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President Joe Biden announced the launch of his multimillion-dollar “Climate Gender Equity Fund” to address purported inequalities women face in climate finance at the United Nations COP 27 climate conference in Egypt on Friday.
The Climate Gender Equity Fund will “leverage private sector contributions to help provide women climate leaders with technical skills, networks, and capital to develop and scale climate solutions,” according to a White House statement.
The program will have initial seed funding of $6 million, with the U.S. Agency for International Development (USAID) matching e-commerce giant Amazon’s $3 million investment.
Amazon said the program will have a “global focus” and “help women access the networks and technical skills they need to accelerate the development of their climate change technologies.”