(TheLastPatriotNews.com) – In a move that has many conservatives shaking their heads in disbelief, the administration of President Joe Biden has announced the establishment of a multimillion-dollar “Climate Gender Equity Fund (CGEF),” which would tackle alleged “inequalities” that women face in “climate finance.”
The announcement of the CGEF came at the end of last week during the recent UN climate conference held in Egypt and known as “COP 27” (“27th Conference of the Parties” that have signed the UN Framework Convention on Climate Change).
The new US federal government’s fund on women’s climate funding “equity” is starting with $6 million in seed funding, Breitbart News reported.
Half of that is US taxpayer money, while the other half is an investment by e-commerce giant Amazon. The CGEF program will be run by the US Agency for International Development (USAID).
“[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,” the White House said in a statement.
According to Amazon, the women’s climate funding equity program would have a “global focus” to “help women access the networks and technical skills they need to accelerate the development of their climate change technologies.”
“As an important step in solving climate change, we must address the gender inequalities that persist in climate finance and ensure female entrepreneurs have an equal seat at the table and access to the funding, networks, and technical support they need to scale climate solutions,” insisted Kara Hurst, Amazon’s worldwide sustainability vice president.
“We’re proud to collaborate with USAID and the Biden administration to help scale women-led climate solutions globally,” she added.
“Female-founded companies typically receive a fraction of total venture capital, and that percentage fell during the pandemic,” Amazon said further in its corporate statement.
Besides that, the company said it would allocate another $50 million for investment in “women-founded” and “women-led” tech companies dealing with climate change. That funding will come from its corporate Climate Pledge Fund.
Besides the program from women’s “equity” in climate funding, the Biden administration has launched several other climate programs, such as the “Indigenous Peoples Finance Access Facility,” which is funded with $2 million of taxpayer money.
“[The Facility] will enable the continued climate stewardship by Indigenous peoples and local communities, improving their access to climate finance,” according to the administration.
President Joe Biden has established the Climate Gender Equity Fund after signing the $430 billion bill called “Inflation Reduction Act,” which consists mainly of climate spending “under the guise of fighting inflation,” the report noted.