The Gender-Responsive Climate Finance Window is NOW accepting Concept Notes for its Spring Round (Cycle 3) until March 31, 2023. Convergence will review all concept note submissions and will invite select applicants to submit a full proposal for funding consideration. Full proposals (by invitation only) will be due on May 5, 2023.
Scope of the 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:
- The mobilization of private sector capital at scale to finance gender-responsive climate change mitigation and/or adaptation in emerging markets;
AND
- 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
- Strong alignment with Sustainable Development Goal (SDG) 5 (Gender Equality), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals) at the minimum.
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.
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.
To Know about the application process and apply, visit https://www.convergence.finance/design-funding/open-window/gender-responsive-climate-finance-window
