The Gender-Responsive Climate Finance Window is now accepting Concept Notes for its Spring Round (Cycle 3).
The Gender-Responsive Climate Finance Window, made possible with support from the Government of Canada, will award early-stage grant funding for the design and launch of innovative blended finance vehicles focused on the intersection of climate change and gender equality in emerging markets globally.
There has been a growing awareness of the climate-gender nexus over the past decade, but the field remains nascent. This Window aims to build the field by supporting a pipeline of climate-gender blended finance vehicles to reach bankability. Blended finance vehicles supported by the Window will be anchored by three key objectives:
- The mobilization of private sector capital at scale to finance gender-responsive climate change mitigation and/or adaptation in emerging markets;
- The integration of gender equality into the design, implementation, and operations of vehicles, rather than as a “bolt-on feature” or “nice-to-have”;
- Strong alignment with Sustainable Development Goal (SDG) 5 (Gender Equality), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals) at the minimum.
- Refer to the Factsheet for more background information.
Types of Funding Available
- Applicants can apply for feasibility study or proof-of-concept funding.
- Feasibility study
- Grants range between USD 40,000 to USD 190,000.
- Funding to explore the feasibility of the vehicle. For example, a combination of the following activities would be eligible:
- Assessing the investability/bankability of the transaction
- Conducting market scoping
- Conducting a gender analysis and stakeholder consultations
- Designing the vehicle structure
- Promising feasibility studies funded through this window may be considered for follow-on proof-of-concept funding.
- Feasibility study applications must be able to 1) present an initial vehicle structure and investment thesis, and 2) demonstrate early engagement with potential investors and relevant stakeholders.
- Grants range between USD 190,000 to USD 500,000.
- If a feasibility study (or equivalent) has been completed, then funding would be provided to complete all design and structuring activities to launch the vehicle. For example, a combination of the following activities would be eligible:
- Finalizing the capital structure and financial model
- Fundraising and marketing activities with prospective investors
- Final selection of implementing partners
- Finalizing the legal structure and producing key documents needed to launch the vehicle
- Development of a gender action plan (or equivalent) based on the gender analysis from prior feasibility work
- Proof-of-concept applications will be expected to present 1) interest and ideally commitment from investors and relevant stakeholders to participate in the vehicle, and 2) a financial model.
- Feasibility study
- To be eligible for consideration, proposals must meet the following criteria:
- The proposal must be for the design and launch of a blended finance vehicle.
- See their grant portfolio for examples of vehicles supported by Convergence under past Design Funding windows.
- Vehicles MUST target either climate change mitigation and/or adaptation, AND integrate a strong gender equality focus.
- Geography Any emerging market(s), eligible to receive official development assistance (ODA) according to the OECD-DAC List of ODA Recipients.
- Sector Any sector(s) and sub-sector(s) aligned with climate change mitigation, adaptation and gender equality. For example, potential sectors and sub-sectors could include the following:
- Climate Change Mitigation:
- Low-carbon transportation
- Renewable energy generation (on-grid and off-grid)
- Energy efficiency
- Agriculture, forestry and land use
- Natural resource management
- Energy transmission, storage, and distribution
- Climate Change Adaptation:
- Sustainable/climate smart agriculture or aquaculture
- Climate-related insurance and disaster resilience
- Nature-based infrastructure
- Ecosystem-based adaptation
- Waste and wastewater management
- Proposals are only accepted from organizations or consortiums of organizations.
- Climate Change Mitigation:
- For example, eligible organizations could include asset owners, asset managers, advisory firms, foundations, not-for-profit organizations, and corporations.
- The lead organization must be able to provide 1) proof of incorporation, and 2) financial statements for the previous fiscal year.
- Applicants are awarded funding in disbursements based on milestones, and are expected to meet reporting requirements, such as reporting on key challenges, learnings, and results on a regular basis. Learnings from the design stage will be synthesized into a public case study or learning brief and published to support market-wide learning.
For more information, visit Gender-Responsive Climate Finance Window.
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