MSMEs can contribute significantly to South Africa's climate change objectives as they occupy a large part of the national economy.
This programme was created as a direct result of the needs of MSME start-ups in South Africa's Green Fund incubation program. Despite engaging in climate activities the country so greatly needs, MSMEs have been unable to access financing from traditional financial institutions. SCF Capital Solutions allow start-ups in renewable energy and energy efficient sectors to transition from incubation to securing contracts with large buyers, accelerating both their own activities and South Africa's transition to a low carbon economy.
The programme also contributes to South Africa's development objectives. Of the 300 MSMEs receiving GCF assistance annually, 45 percent will be owned by women, 35 percent will be owned by young entrepreneurs and 70 percent will be owned by previously disadvantaged individuals. It is expected to support 30,000 jobs in the climate space, 6,000 of them new.
The programme will tap into the expertise of South African-based developmental finance company SCF Capital Solutions to use supply chain financing to provide capital to green economy-focused MSMEs. It will do this by focusing on the credit worthiness of major buyers, thereby reducing the financial burden on MSMEs. A focus on recurring supply chains in the economy will improve business efficiencies and help catalyze private sector investment.
ACCESS TO INFORMATION
Requests for project information may be submitted using the IDP Request for Information by email to: firstname.lastname@example.org.
You can also submit an information request using this online form: https://www.greenclimate.fund/about/disclosure/form. Additionally, if information requested is denied, an appeal can be filed to the Information Appeals Panel: email@example.com. You can learn more about the Information Appeals Panel at: https://www.greenclimate.fund/about/disclosure/appeals.
ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND
The Independent Redress Mechanism (IRM) addresses complaints by people who believe they are negatively affected or may be affected by projects or programmes funded by the Green Climate Fund (GCF). The complainant can raise issues related to any of GCF’s policies and procedures, including those relating to social and environmental issues, indigenous peoples, gender, and information disclosure, among others. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating problem solving or conducting a compliance process. You can learn more about the Independent Redress Mechanism and how to file a complaint at https://irm.greenclimate.fund/.
You can access a video about the IRM (English) at: https://youtu.be/1LanbriVhfs.
A brochure about the IRM can be accessed in English, French, Spanish, Portuguese, Arabic, Mandarin, Mongolian, Vietnamese, Russian, Ukrainian, Korean, German, and Kiswahili at: https://irm.greenclimate.fund/.