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Trócaire has launched a new Climate Fund giving Irish businesses the opportunity to improve their Environmental, Social and Governance (ESG) rating by supporting projects protecting millions of people living on the front lines of the climate crisis.
The fund is aimed at helping the communities Trócaire works with around the world to build resilience, adapt to the effects of climate change, and respond to disasters.
Launched at the Finance Leadership Summit in Dublin by Trócaire board member David Donoghue – who was the UN joint negotiator for the SDG’s (Sustainable Development goals) adopted globally in 2015 – the fund is an attractive option for companies who want their CSR strategies to have a global perspective.
Trócaire CEO Caoimhe de Barra said the development agency has an ambitious plan to roll out climate adaption projects that will impact on the lives of thousands over the next three years in Ethiopia, Rwanda, Malawi and Sierra Leone. The new Climate Fund will support this work.
Already in Malawi – where eight major droughts have affected more than 24 million people – Trócaire’s partnership with Climate Challenge Programme Malawi has seen over 750 farmers benefit from agroecology training, supporting families in increasing production through sustainable farming practices. And in Ethiopia Trócaire is implementing livestock insurance designed to protect pastoralists against drought related livestock losses using satellite imagery and meteorological data.
Ms de Barra said: “Extreme weather patterns, natural disasters and food and water shortages are threatening the lives of people living in poverty. The poorer people are, the harder it is to recover from failed harvests, destroyed homes, and health crises.”
“The climate crisis will affect us all, but not equally. It has been estimated that by 2030 climate change could push more than 120 million more people into poverty. The scaling up of agroecological approaches – through water management, healthier soils, optimising yield increases and biodiversity – are effective in providing food and income security, whilst adapting to a changing climate.”
David Donoghue said, “I am aware of the challenges faced by all trying to meet the ambitious but urgent goals set out by the SDGs . Trócaire’s climate fund is a great opportunity for Irish businesses to align their ESG strategy with real global change.”