In the face of the global climate change crisis and the goal of keeping global warming below 1.5°C by 2050, it is estimated that the renewable energy sector could add up to 43 million jobs by 2050 (currently 12 million). For Latin America and the Caribbean (LAC) in particular, the green economy boom could lead to the creation of up to 15 million net jobs by 2030.

Currently in the renewable energy sector, only one fifth of workers in the global wind sector are women, similar is the case in the hydrocarbon industry. In this context, blended finance is presented as a tool to help reduce the gender gap in this booming sector.

In this regard, IDB Invest has been, since 2014, a leader in structuring results-based incentives in blended finance for renewable energy projects. Experience indicates that this type of financing incentivises recruitment, retention and leadership opportunities for women. Blended finance investments are particularly effective in overcoming barriers imposed by market inertia and are a unique opportunity to foster new employment models.

Recently, the financial market has been paying increasing attention to gender issues and ESG factors. Thus, combining gender and climate change objectives are the arguments for raising capital and for fostering growth and equity in local infrastructure supply chains.