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W+ : Ensuring Benefits to Women
What is the W+?
A framework to quantify and monetize the social capital created by women, to recognize and reward their contributions to sustainable environments and communities
Leverages the well-established global carbon market that quantifies environmental capital
A social standard that quantifies and verifies benefits to women in 6 domains:
Time Income/Assets Health Education and Knowledge Food Security Leadership
Produces quantified women-benefit units that contribute towards MDG/development or CSR targets recognized in sustainability accounting.
A unique certification label that endorses projects that create increased social and economic benefits to women through:
- renewable energy technologies- time and labor saving devices- forest and agriculture activities- employment opportunities
Why ?
Strengthening women’s empowerment will provide environmental, social and economic benefits for climate change mitigation and resilience and food security.
“…if women in rural areas had the same access to land, technology, financial services, education and markets as men, agricultural production could be increased and the number of hungry people reduced by 100-150 million.” (FAO, 2011)
The Women Effect
Investors perceive that their investments are less at risk when women are receiving benefits and making decisions
MFIs that have more women clients have lower write-offs and lower credit-loss provisions, confirming the common belief that women are a better credit risk.
More Why
Governments and development agencies are increasingly including women’s empowerment / gender equality into project goals, based on women’s rights and on evidence of improved project outcomes.
Private sources of project financing, mobilized through global carbon markets and Corporate Social Responsibility channels, are also interested in projects that support women’s empowerment. (Coca Cola’s 5by20 campaign)
Gaps
However:1.Resources allocated to women’s groups are still miniscule (69% of over 1000 with less than $50K/yr)2.The W+ standard is currently the only framework to recognize and fairly reward contributions of women to environmental sustainability and community development. 3.The W+ standard is currently the only results-based approach that provide rigorous methodologies to quantify and verify impacts of women’s empowerment. 4.The W+ standard is currently the only standard that assures revenues are returned to women.
Benefits: For Corporations and Development agencies: -W+ provides indicators and results-based framework for verified results
For women of developing economies:-W+ will drive new investments to support activities that empower women and support their groups
Pilot Projects
A Biogas project in Nepal will generate “TIME” units for women who will no longer have to collect fuelwood
Expressions of interest from corporate buyers (Hilton, UPS) to buy similar credits linked to their operations in Asia
The Funds: Vision, Purpose and Goals
W+ Establishment Fund : seed money to: – Develop additional methods and field test these– Create infrastructure (set up administration) – Kick start the market (marketing and outreach)
An Investment Fund will be set up in near future.
