Senator Ireti Kingibe Launches $200,000 (Usd) Green Economy & Climate Action Impact Investment Fund (Greenmeireti Fund) To Commemorate The 2023 International Youth Day.
National and local economies globally, continue to experience multiple socioeconomic shocks arising from and resulting in an exacerbation of rising costs of living, unemployment, inequality, climate-related emergencies, among other challenges that exist in our world today. We have witnessed youths consistently rise up to the occasion with monumental contributions towards global economic recovery.
Attaining socioeconomic sustainability in these times is predicated on a just green transition. With a proven track record of substantial development contributions, investing in youth-led solutions presents a viable opportunity for measurable progress.
This year’s global Youth Day observance is themed Green Skills for Youth: Towards a Sustainable World. With a focus on highlighting the role of young people in coming together to amplify engagement and leadership in all areas of decision making and action, especially in creating an environmentally sustainable and climate friendly world. It also marks the 25th anniversary of the UN resolution proclaiming August 12th as the International Youth Day.
The GreenMeIRETI Fund has been established in celebration and recognition of the vital and invaluable role of youths in the actualization of sustainable development.
The GreenMeIRETI (GMI) Fund is the first Green Economy & Climate Action Impact Investment Fund in the world, mobilized and sponsored by a sitting member of a National Parliament. The GreenMeIRETI Fund is a strategic response by Senator Ireti Kingibe’s 2RUHOPE Development Initiative to both the urgency for climate action in the African region, and also the Inter-Parliamentary Union’s (IPU) ‘Parliaments for the Planet’ Campaign – which calls on every Parliamentary Representative across the globe to become an active champion for climate action and a just green transition.
With a pledged $200,000 (USD), the GreenMeIRETI Fund is a strategic Green Impact Investment Fund positioned to play a vital role in accelerating the transition towards a greener and more sustainable economy. The fund serves as a catalyst for green innovation and technology.
By providing financial support to youth and women-led sustainability and green growth-oriented startups and projects, it encourages the development of cutting-edge solutions to environmental problems. These innovations are expected to contribute towards the boost of more efficient renewable energy sources, sustainable agricultural practices, and advancements in waste management, among others.
Investors are increasingly recognizing the importance of environmental, social, and governance (ESG) factors in their decision-making. By supporting green initiatives and enabling responsible investment practices., the GreenMeIRETI Fund sets an example for other investment vehicles, encouraging a shift towards more environmentally conscious and sustainable investments across the financial landscape.
The GreenMEIRETI Fund promotes job creation and economic growth. As green projects and businesses receive funding, they expand and create employment opportunities in the green economy. This, in turn, contributes to the overall economic growth and societal well-being.
With a focus on financing projects aligned with global and regional targets of the Paris Agreement and the African Union Climate Change and Resilient Development Strategy, the GreenMeIRETI Fund is situated to facilitate the achievement of Nigeria’s Nationally Determined Contributions (NDCs), and empower grassroots-based, impact-oriented MSMEs through the disbursing of Impact Investment Grants.
As a powerful tool to drive sustainable development, spur green innovation and combat climate change, the GreenMeIRETI Fund is structured to run a two-pronged impact investment track for youth-led and women-led eco-innovation solutions, providing an Impact Investment Grant of $5,000 to each selected awardee in both tracks (youth-driven and women-driven).
By mobilizing capital towards environmentally beneficial projects, this fund serves as a force for positive change, leading the way towards a greener and more resilient nation.
To apply or find more information, please visit www.greenmeireti.org