Dubai, December 4, 2023—IFC today launched She Wins Climate, an initiative aimed at partnering with entrepreneurship support organizations to expand opportunities for women entrepreneurs in the green economy, including by increasing their access to capital and addressing the challenges they face.
The initiative, launched at COP28, works to advance gender equality and address climate change impact. Currently only 7 percent of private equity and venture capital is invested in women-led businesses in emerging markets. Globally, just 9 percent of venture capital goes to women founders in climate tech. Growing evidence suggests women's leadership and decision-making accelerate inclusive and effective climate action.
"The She Wins Climate initiative will support organizations that mentor, train, and finance entrepreneurs, so they can better address the challenges and needs of women-led businesses in the low-emission and climate resilient economy," said Hela Cheikhrouhou Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan. "We need investors to step up and fund women. It pays off for all of us."
The five-year She Wins Climate program seeks to improve the capacity of accelerators and private equity and venture capital funds to better reach women-led startups and enterprises working on climate solutions. Moreover, the initiative will bring together investors and women-led climate startups to increase women's visibility in climate leadership, raise awareness about the challenges they face, and expand their opportunities for accessing early-stage capital.
She Wins Climate seeks to build on the lessons learned from She Wins Arabia, which since its launch in 2021 in the UAE, has provided capacity building and trainings to over 150 women-led startups and over 40 funds and accelerators across the two phases of the initiative.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org
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