It is expected that USD 2.8 trillion will be needed between 2020 and 2030 for Africa to implement its Nationally Determined Contributions (NDCs). Yet, in 2019 and 2020, Africa received only 12 to 15 per cent of the required investments for climate action. The share of private climate finance in total climate finance is relatively lower than in any other emerging market globally. The main risks that deter investors from committing to African private equity include the perception of a weak exit window, currency risk, a less attractive risk/return profile than other markets, and political risk.

GCF’s equity investment in NVIIII, a USD 200 million venture capital fund, will mobilise funding for African climate ventures. The venture fund aims to support early and growth-stage companies that promote a clean, inclusive, and sustainable development path for Africa. Investments will be channelled into companies focused on three main themes: services that enable adaptation and resilience; clean technology for decarbonising economic growth; and innovative climate technology for natural resources.

Focusing on Kenya, Nigeria, Rwanda, South Africa, and Egypt, this initiative aims to scale affordable climate solutions from other markets. Each of these countries has a large climate-vulnerable population, making it essential to provide capital for companies in these areas to scale up investments in mitigation and adaptation. Through successful investments, NVIII seeks to establish a strong climate-tech innovation ecosystem by engaging key stakeholders and mobilising private sector capital.

It was developed under GCF’s Project-specific Assessment Approach (PSAA).

Novastar Ventures Africa People and Planet Fund III

<p>Project information is sourced from Green Climate Fund. Please check terms of use for citation and licensing of third party data.</p>

Gender assessment for FP287: Novastar Ventures Africa People and Planet Fund III

Project

Egypt

Kenya

Nigeria

Rwanda

South Africa

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Justice is the ethical and political framework that addresses fairness, including issues of responsibility, rights, and structural inequity.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

People who are less able to respond to the effects of climate change due to having limited financial or physical assets

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

The processes through which enterprises can identify, prevent, mitigate and account for how they address their actual and potential adverse impacts. Due diligence is the idea that reasonable precautions should be taken to avoid causing harm to people, the environment, or society. It also involves identifying and mitigating risks before they occur.

Financial actors and resources that are primarily directed towards climate change mitigation, adaptation and compensation.

Dedicated pool of financial resources for climate-related projects.

A financial institution that manages a country's currency and can promote climate-related initiatives through green monetary policy and other means.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Actions or measures to adapt terrestrial systems to climate change.

Extreme weather refers to events where a weather variable exceeds (or falls below) a threshold. Meaning it is significantly different from the average or usual weather pattern.

A drought is an extended period of unusually dry weather marked by a significant and sustained lack of precipitation, falling below a specific threshold over a large area for more than a month

Social protection systems consist of policies that help people manage social risks in order to prevent poverty and maintain decent incomes and living standards

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

People with different national or cultural traditions from the dominant population

Work that is productive and delivers a fair income, security in the workplace and social protection for all, better prospects for personal development and social integration, freedom for people to express their concerns, organize and participate in the decisions that affect their lives and equality of opportunity.

People whose health, both mental and physical, makes them more vulnerable to the effects of climate change

Jobs that contribute to preserving or restoring the environment. We include jobs which require a high amount of green skills or which spend much of their time on green activities, as well as jobs transforming polluting industries.

People who have left their homes, whether through force, voluntarily, or a mixture of both

woman and genders outside of the gender binary

The activities of industries that transforms raw materials into finished goods through industrial processes.

This sector involves the wholesale and retail selling of goods.

This sector involves activities to move goods and people, alongside the storage of products.

This sector provides communication services, software development, and IT solutions.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

Activities that involve the cultivation of crops and raising of livestock for food, fibre, and other products essential for human life and industry.

the fair distribution of risks and opportunities of climate change and the transition to a regenerative economy, cognisant in particular of disproportionate impacts on vulnerable communities and the working class

Procedural justice means ensuring that decision making is safe, transparent and inclusive, emphasizing the agency and influence of vulnerable groups and those most impacted.

Any substance with chemical properties that can cause physical harm to people or damage the environment, including ammonia, carbon monoxide, phosphine, chlorine, arsenic, cadmium, mercury, pesticides, dioxins, microplastics, benzene, asbestos, aflatoxins, fluoride, methanol, and toxins from marine sources.

Gender assessment for FP287: Novastar Ventures Africa People and Planet Fund III

Policy instrument

Risk

Impacted group

Just transition

Climate justice

Renewable energy

Fossil fuel

Economic sector

Adaptation/resilience

Finance