RELEASE: P4G Awards $5.2 Million to 12 New Partnerships to Advance Innovative Climate Solutions

WRI's Partnering for Green Growth and the Global Goals (P4G) initiative will provide grant funding and technical support to help the startups in these partnerships become investment-ready

WASHINGTON (October 3, 2024) - Today, Partnering for Green Growth and the Global Goals 2030 (P4G) announced $5.2 million in grant funding and technical assistance for 12 new startup partnerships in Africa, Latin America and Southeast Asia. This funding will help early-stage businesses become investment-ready, enabling them to scale climate solutions like EV charging infrastructure, biofuel production, water efficient irrigation systems and climate-smart agriculture.

By 2027, these partnerships aim to collectively leverage $14.5 million in investments, create over 1,400 new jobs, benefit about 316,000 people and reduce or avoid around 211,000 metric tons of carbon emissions.

"These partnerships showcase the incredible potential of early-stage startups," said Robyn McGuckin, Executive Director, P4G. "With the right support and financing, these innovators can lead the way in driving climate-friendly business models, championing local solutions and inspiring others. At P4G, we believe that supporting these initiatives is not just good for the planet; it's also a smart economic strategy for a sustainable future."

The green economy presents a $23 trillion opportunity in climate-smart investments across emerging markets. However, climate startups in low- to middle-income countries often struggle to secure funding, as they are typically too large for microcredit and local bank loans but too small and risky for international investors, all while facing regulatory challenges and high commercial uncertainty.

To help bridge this gap, P4G connects early-stage startups to nonprofit, administrative and ESG organizations to collaborate on advancing crucial climate mitigation and adaptation solutions. The 12 new P4G partnerships will focus their efforts on Colombia, Ethiopia, Indonesia, Kenya, South Africa and Vietnam.

One of these partnerships, Grekkon Limited and Access2innovation, will use their funds to improve water resilience for smallholder farmers in Kenya. Their products, which include high-quality boreholes and irrigation systems, will help Kenyan growers adapt to and mitigate the effects of climate change.

"Our goal is to boost agricultural productivity and resilience in these communities, reduce crop loss and improve water quality, security and economic stability," said Wamae Mwangi, Director, Grekkon Limited. "With P4G's support, we can provide climate-smart solutions that are vital for farmers facing water scarcity and soil challenges."

Additional partnerships receiving funding include:

• Irri Hub Ke and Impacc gGmBH - end-to-end solar-powered irrigation solutions for smallholder farmers in Kenya.
• Surplus Indonesia and Greeneration Foundation - a food rescue app that allows the food industry to sell overstocked and imperfect produce at discounted rates in Indonesia.
• STROOM and Greater Stellenbosch Trust - cargo e-bikes for last-mile deliveries in South Africa.

Startup partnerships also benefit from P4G's National Platforms - multistakeholder government and industry coalitions of government and industry - that provide networking opportunities, facilitate policy dialogues and host workshops to help create more favorable market conditions for climate-focused businesses.

P4G received 89 applications for this round of funding. An Independent Grants Committee, comprising climate and impact investing experts, evaluated the shortlisted partnerships to select the final recipients.

Since its launch in 2018, P4G has evaluated over 1,000 applications and funded 103 partnerships that have leveraged nearly $100 million in investment, generating more than 1,000 jobs and preventing more than 10 million metric tons of carbon emissions. P4G partnerships focus on providing products and services in climate-smart agriculture, food loss and waste reduction, water resilience, zero-emission mobility, and renewable energy.

View the full list of the 12 partnerships and their solutions.

About P4G

P4G contributes to green and inclusive growth in low- and middle-income countries by helping early-stage businesses become investment ready and matching them with a supporting public-private National Platforms to enable country climate transitions in food, water and energy systems. P4G provides grants and technical assistance to startup partnerships; contributes to enabling systems improvements in partner countries through National Platforms; and shares learning on green entrepreneur ecosystems and solutions. Hosted by World Resources Institute and funded by Denmark, the Netherlands and the Republic of Korea, P4G implements in Colombia, Ethiopia, Kenya, South Africa, Indonesia and Vietnam. To learn more, visit www.p4gpartnerships.org.

About World Resources Institute

WRI is a trusted partner for change. Using research-based approaches, we work globally and in focus countries to meet people's essential needs; to protect and restore nature; and to stabilize the climate and build resilient communities. We aim to fundamentally transform the way the world produces and uses food and energy and designs its cities to create a better future for all. Founded in 1982, WRI has nearly 2,000 staff around the world, with country offices in Brazil, China, Colombia, India, Indonesia, Mexico and the United States and regional offices in Africa and Europe. Learn more at WRI.org and on X @WorldResources.

• Sangeetha Sarma

  Head of Communications, P4G