The GYCAF is the first of it’s kind climate fund dedicated to financing youth-led climate action in developing countries, being the hardest hit by the impacts of climate change.
The fund was birthed by a coalition of NGOs over a three months consultation period that involved holding virtual dialogues with finance experts to understand the need for a vehicle that supports and champions youth-led climate action.
Fund Overall Objective:
To spearhead and launch the first Global Youth Climate Action Fund to facilitate young people in driving green grassroots jobs and economies in their respective countries.
Ten Year Strategy
GYCAF will be working to close the USD 100,000,000 pledge between 2020 and 2030. Since the fund will be open-ended, the goal is to encourage private sector donors to contribute towards fulfilling our pledging quotas and still be able to disburse funds as needed to grantees and investees on a rotational basis. Fundraising efforts for the fund will include lobbying at UN Climate events, liaising with private donors, foundations and grants, and approaching investment funds to co-finance term sheets.
At the end of the 10 year cycle, performance of existing vehicles and portfolios will be reviewed and a determination will be made whether to close the fund or restructure the investment activities with more ambitious targets.
BLI Global, ECOS, Greening Kenya Initiative Trust, Africa Youth Panel and Citizens’ Climate Lobby initiated a three months virtual series, featuring practitioners and experts from around the world who shared their experience navigating financing at the grassroots level and advocating for increased support for policies focused on growing a green economy. The series was live-streamed on YouTube and Facebook as well as recorded for those that were not be able to attend.