Gender-Responsive Climate Finance Window (Cycle 5) – (up to USD 500,000)

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Gender-Responsive Climate Finance Window

Deadline: 30th August, 2024. 

The Gender-Responsive Climate Finance Window is now accepting Concept Notes for its Fall Round (Cycle 5) until August 30, 2024.

Gender-Responsive Climate Finance Window
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:

  1. The mobilization of private sector capital at scale to finance gender-responsive climate change mitigation and/or adaptation in emerging markets;

AND

  1. The integration of gender equality into the design, implementation, and operations of vehicles, rather than as a “bolt-on feature” or “nice-to-have”;

AND

  1. Strong alignment with Sustainable Development Goal (SDG) 5 (Gender Equality), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals) at the minimum.

Funding 

  • 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.
    • Proof-of-concept
      • 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.

Eligibility

To be eligible for consideration, proposals must meet the following criteria:

Theme

  • The proposal must be for the design and launch of a blended finance vehicle.
    • See our 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

For more information and application.

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