In Viet Nam, loans help bolster gender equality and fight climate change
So, Duong approached CHIASE, a non-governmental organization and partner of the United Nations’ EmPower programme, which helps women become more resilient in the face of climate change.
CHIASE supported the cooperative as it accessed a collateral-free, low-interest loan that members used to construct a solar-powered building for drying leaves and other agricultural products. Since then, production has surged, says Duong, a 33-year-old mother of two who lives in the Bắc Kạn region.
Launched in 2018, EmPower is led by the UN Environment Programme (UNEP) and UN Women. The effort is designed to tackle a problem many women face across the Asia-Pacific region: a lack of access to credit.
The initiative works with banks to develop loan products that allow women and other marginalized groups to purchase renewable energy equipment and other clean technologies. That gear, which includes solar-powered water pumps and irrigation systems, also helps rein in emissions of planet-warming greenhouse gases.
The first phase of EmPower benefited some 473 women-led micro, small and medium-sized enterprises (MSMEs), and the second phase, launched in 2023, is expected to support 1,600 women-led MSMEs.
“This programme shows the transformative power that accessible and affordable financing can have on the lives of women,” says Dechen Tsering, the Acting Interim Director of UNEP’s Climate Change Division. “It also demonstrates that renewable energy is a viable alternative to fossil fuels, which is crucial at a moment like this.”
Her comments follow a new report from UNEP that reveals the Earth is heading for a 2.6°C to 3.1°C rise in temperatures before century’s end, an increase that could prove catastrophic.
Distribution channels: Environment
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