Women and youth entrepreneurship project initiated by Africa Climate Change Fund
Since 2017, the ACCF governing committees are said to have approved 26 projects estimated at US $15.87mn
An initiative to support processes for climate adaptation finance for female entrepreneurs and youth has been launched by the Africa Climate Change Fund (ACCF) Secretariat. The ‘YouthADAPT: Empowering Women and Youth for Entrepreneurship and Job Creation in Climate Adaptation and Resilience’ scheme aims to develop innovative, transformative climate-resilient bankable projects aligned with African countries’ Nationally Determined Contributions.
The initiative was launched virtually, following the approval of US $1mn grant funding by the ACCF’s development partners for the project. The event is said to have rallied together stakeholders including the project team, quality control, adaptation, gender, and communication experts, and climate change and green growth experts to share experiences.
According to the ACCF, YouthADAPT is a flagship program under the Africa Adaptation Acceleration Program (AAAP), which is unlocking the untapped potential of youth in Africa to drive resilience and green enterprise.
In late-October 2022, the UN Environment Programme (UNEP)’s new Emissions Gap Report 2022 revealed that the international community is still falling far short of the Paris goals.
ACCF Coordinator Rita Effah, and Portfolio Officer, Lucy Debrion, explained the Fund’s operational guidelines on Bank-implemented projects.
“African youth are leading the way, not in talk, but in concrete climate action; as agents of change, innovators, and entrepreneurs,” said AAAP Coordinator and Principal Climate Change Officer Edith Ofwona Adera.
Adera also said that the scheme would support women-led local enterprises promoting adaptation solutions to create additional jobs. She also then thanked the ACCF for collaborating on the projects and commended the fund for its role in facilitating the production of proposals. “That makes our work easier,” she said.
In mid-November 2022, EARTHDAY.ORG unveiled the Climate Education Coalition at COP27.
Following the launch, the AAAP secretariat will regularly engage with the ACCF Secretariat on significant project milestones to ensure that the objective is fully accomplished.
The ACCF is a multi-donor trust fund that aims to contribute to the African Development Bank’s (AfDB) goal to triple its climate financing efforts and build a climate-resilient Africa. It was established by AfDB in April 2014 with an initial contribution of approximately $4.91mn from the government of Germany to support African countries build their resilience to the negative impacts of climate change and transition to sustainable low-carbon growth.
The ACCF was then converted to a multi-donor trust fund in 2017 with contributions from the governments of Flanders, Belgium and Italy. The Global Affairs Canada and the Government of Quebec joined the Fund in 2020 and the Global Center on Adaptation in 2022. The current trust size is said to be $25.71mn.
Later in November 2022, MOCCAE, EAD and ENWWF inked a deal to scale up Nature-based Solutions in a bid to address climate change.