The financial sector plays an important role in enabling the transition to a low-carbon and climate-resilient economy. However, one of the major challenges for entrepreneurs and the private sector is the limited financial incentives to work on climate action. Moreover, entrepreneurs often struggle to access local investors, venture capitalists and angel investors that are generally willing to invest in high-risk entrepreneurial climate action activities in the African region.
The Green Finance award recognizes the successful climate change initiatives of Banks, Venture Capitalists, Angel Investors, Asset Management companies.
Areas may include:
- Strategies for transition to net zero carbon foot print in ( example: phasing out of investments in oil fields, coal plants, reduction in % sales of electric cars, etc..).
- Carbon intensity of their investments and lending portfolios against set targets.
- Strategies and policies for achieving net-zero carbon foot print.
- Supporting public sector on creating enabling environments.
- Promoting public-private partnerships on financing mechanisms such as green bonds.
- Availability of Green products( green loans, Green savings).
- Integrating climate risk assessments indicators in assessing projects.