EBRD, AfDB and AFD launch tool to support private companies and public sector in improving gender response | African Development Bank

The European Bank for Reconstruction and Development (EBRD), the African Development Bank Group and the French development agency AFD, in collaboration with the Egyptian government, have launched the Gender Equality in Climate Action Accelerator.

The Accelerator will support private sector companies in improving the gender responsiveness of their business climate management. It will also help governments promote gender-sensitive policies for the climate sector, accelerating their green transition to meet the goals of the Paris Agreement, the UNFCCC’s Gender Action Plan and key sustainable development goals.

The launch ceremony took place on Gender Day, Monday, November 14, on the sidelines of the 27th Annual Global Climate Summit (COP27) in Sharm El-Sheikh, Egypt. It brought together world leaders, heads of development finance institutions and private sector business representatives.

Egypt has called on the global community to take action on gender equality in climate action, stating that now is the time to show progress on the ground.

In opening remarks, Egypt’s International Cooperation Minister, Rania Al-Mashat, highlighted “clarity and credibility of engagement” as the main features of this initiative. The minister said: “COP27 strengthens international efforts to move from commitments to implementation and to achieve the objectives of the Paris Agreement. The launch of this accelerator, in collaboration between the government and development partners, strengthens gender equality efforts, enhances climate action and adaptation efforts to ensure more effective participation of women. It also creates opportunities that advance women’s development and important lessons to accelerate gender equality in the workplace and tackle climate change.”

EBRD President Odile Renaud-Basso said: “Women are a transformative force for economies. We must leverage their ingenuity, their potential and their business acumen to find and deliver solutions to the enormous challenges we face in tackling climate change. Our role is to collaborate on creating better access to green skills and jobs, more support for innovative entrepreneurship in the green economy, and scaling investments in sustainable business practices. “

Cassilde Breniere, Deputy Chief Operations Officer of AFD, said: “This initiative is in line with AFD’s feminist policy. AFD is proud to show that over 60% of our climate finance contributes to achieving gender equality. AFD projects have shown that adaptation strategies are more effective when women are involved. Women are a force of structural transformation and we need women to achieve our climate ambition.”

Gareth Philips, Manager Climate and Environment Finance, added: “We at the African Development Bank Group believe this is a step in the right direction. We need to get better at tracking, and we are committed to working with African governments and development partners to develop and refine tools to improve gender equality in climate change.”