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The document presents a manifesto for a 'just transition' of the energy system, arguing that the current capitalist model drives ecological collapse and social inequality. It advocates for energy to be treated as a common good rather than a commodity, calling for a shift toward 100% renewable energy through small-scale, decentralized, and community-managed technologies. The manifesto emphasizes 'energy sufficiency,' demanding a drastic reduction in overconsumption in the Global North to allow for equitable access to energy in the Global South. It links climate justice to broader social struggles, including feminist, anti-racist, and anti-capitalist movements, and calls for the redirection of public funds—such as military spending and taxes on the wealthy—toward a people-centered energy revolution.

The guide provides alphabetical definitions of key WTO terms, including the agreements resulting from the Uruguay Round, the functions of WTO governing bodies, and specific legal clauses related to trade, environment, and intellectual property.

The Africa Green Bond Toolkit, developed by FSD Africa and the Climate Bonds Initiative, serves as a practical manual for entities in Africa to issue green bonds. It outlines the structural differences between green and vanilla bonds, detailing how proceeds must be exclusively allocated to projects with environmental benefits. The document guides issuers through the pre-issuance phase—including the creation of a Green Bond Framework and independent verification—and the post-issuance phase, focusing on reporting and auditing. It highlights global benchmarks such as the Green Bond Principles (GBP) and the Climate Bonds Standard (CBS), while providing African case studies from South Africa, Kenya, and Nigeria to demonstrate investor demand and the role of credit guarantees in market development.

The document details how BCP, through its subsidiary Attawfiq Micro-Finance, used a USD 25 million gender bond to provide micro-credits and non-financial services to women in Morocco. It highlights the barriers women face—such as lack of collateral, cultural norms, and limited financial literacy—and demonstrates how targeted micro-credit has enabled women in both rural and urban areas to expand businesses and escape poverty. While the initiative shows success in financial inclusion, the text notes that investor focus on yield over social impact and rigorous reporting requirements remain challenges for the growth of social bonds.

The document provides a statistical overview of remittances from the UK to Africa, detailing the cost as a percentage of the amount sent, the size of the diaspora population in the UK, and the total annual amount of money sent for 16 African nations. Nigeria is the largest recipient by volume, with £2,363 million sent annually, while Tanzania has the highest cost of sending at 14%.

Sand to Green, supported by the Catalyst Fund through the Catalysing Climate Resilience (CCR) Programme, uses agroforestry and solar desalination to transform deserts into productive farmland. With $100,000 in initial capital and tailored support, the firm secured $1 million in seed funding, expanded its land holdings to 30 hectares in Morocco, and grew its annual turnover from €30,000 in 2019 to over €100,000 in 2020.

The 'Kit d’Outils d’Obligations Verte Afrique' is a practical guide developed by FSD Africa and the Climate Bonds Initiative (CBI) to support the issuance of green bonds in Africa. It outlines the structural similarities between green and conventional bonds, while detailing the specific requirements for environmental benefit allocation, transparency, and reporting. The document explains global benchmarks such as the Green Bond Principles (GBP) and the Climate Bonds Standard (CBS), and provides a step-by-step issuance process including pre-emission preparation and post-emission verification. It also highlights successful case studies from South Africa, Kenya, and Nigeria to demonstrate investor demand and the role of credit guarantees in local market mobilization.

The FSD Africa and FSDAi venture finance portfolio consists of numerous funds and platforms targeting climate action, gender-lens investing, and financial inclusion across the African continent. Key climate-focused initiatives include Africa Climate Ventures, which aims to reduce 100 million tonnes of carbon emissions by 2030, and the Catalyst Fund, which targets 40 pre-seed climate resilience start-ups. Gender-focused funds such as Aruwa Capital and RiTA Fund I specifically address capital imbalances for female-led businesses. The portfolio also includes sector-specific vehicles for fintech (First Circle Capital), insurance (Inclusive Insurance Investment Fund), and renewable energy (Nithio, Spark Energy), utilizing a mix of equity, grants, and debt to catalyze private investment and drive sustainable economic growth.

The report identifies a significant gap between the high demand for green financing driven by Morocco's Nationally Determined Contribution (NDC) and the limited supply of tailored financial instruments for SMEs. While energy efficiency and renewable energy projects are well-covered, sectors like fisheries and sustainable housing are underserved. The study recommends improving the regulatory framework for ESCOs, introducing fiscal incentives, and designing new equity or guarantee mechanisms to catalyze green investment.

The study identifies a significant gap between the high demand for green financing driven by Morocco's Nationally Determined Contributions (NDC) and the limited supply of dedicated instruments for SMEs. While sectors like industry and agriculture are well-served by credit lines, others such as transport, water, and construction remain underserved. The report recommends enhancing the regulatory framework, implementing a green taxonomy, and developing new instruments such as a dedicated green guarantee mechanism or an equity fund to support the transition to a green economy.

The report examines the role of fund domiciles in Sub-Saharan African private equity, highlighting the dominance of Mauritius due to its tax efficiency and legal stability. While there is growing interest in onshore alternatives—particularly in South Africa, Kenya, Nigeria, and Morocco—the report finds that the high standards of legal, regulatory, and tax frameworks in offshore centres create a significant barrier to entry. It argues that donors should focus on strengthening the broader business environment and supporting private equity investment in SMEs rather than solely attempting to replicate administrative offshore hubs.

The white paper argues that African capital market regulators often face a dual mandate of both developing and regulating markets, which requires a proportional approach based on the market's maturity. It introduces a five-stage analytical framework—Foundational, Nascent, Emerging Early, Emerging Maturing, and Advanced—to help regulators determine whether to focus on building blocks, commodity markets, or sophisticated financial products. The report highlights that while some regulators like Morocco's AMMC are well-aligned, others face operational deficits or inefficiencies. It suggests a fluid funding mix of government and industry fees to ensure financial sustainability and independence.

The document serves as a technical resource for designing and issuing gender bonds in Africa, aligning with International Capital Market Association (ICMA) standards. It details the issuance process for both use-of-proceeds (UoP) and performance-based bonds, emphasizing the need for gender-disaggregated data, internal working groups, and external reviews. The guide highlights the growth of the gender bond market in Africa, citing recent issuances in Morocco, Rwanda, South Africa, and Tanzania, and provides case studies and frameworks to help issuers direct capital toward women-owned MSMEs, housing, and leadership diversity.

The document serves as a practical resource for the issuance of gender bonds in Africa, detailing the process from preparatory work to post-issuance reporting. It defines gender bonds as mechanisms to channel funding toward projects reducing gender inequalities, categorizing them into use-of-proceeds (UoP) and performance-based structures. The guide emphasizes the importance of gender-disaggregated data, the role of external reviews (such as Second Party Opinions), and the support of Multilateral Development Banks (MDBs) as anchor investors. It highlights emerging markets in Morocco, Rwanda, South Africa, and Tanzania, and provides specific criteria for eligible projects, particularly the financing of women-owned micro, small, and medium enterprises (WMSMEs).

The GCF approved USD 3.7 billion for 76 projects across 79 developing countries, targeting a reduction of 1.3 billion metric tonnes of CO2 equivalent. Key operational developments include the launch of the Simplified Approval Process (SAP) Pilot Scheme, the adoption of an Indigenous Peoples Policy, and the establishment of an Environmental and Social Policy. The fund is also preparing for its first formal replenishment process and expanding its private sector engagement through dedicated pilot programmes for MSMEs and resource mobilization at scale.

The Accreditation Panel recommends that the International Fund for Agricultural Development (IFAD) be upgraded to 'large' project size and 'high risk' (Category A/I-1) environmental and social risk categories. The assessment found that IFAD's fiduciary standards, project management capacities, and environmental and social safeguards fully meet GCF requirements for these expanded parameters.

Between August 2021 and July 2022, the Green Climate Fund (GCF) approved USD 1.69 billion for 19 new projects, bringing its total approved funding to USD 10.4 billion across 196 projects. The Fund updated key policies, including the Private Sector Strategy and the Simplified Approval Process, and launched the GCF-2 replenishment process. Significant efforts were made to support vulnerable regions, with 65% of adaptation funding in grant equivalent terms allocated to LDCs, SIDS, and African States. The GCF also expanded its network of accredited entities and continued its Independent Evaluation Unit's assessments of portfolio effectiveness.

The report form classifies the Global Subnational Climate Fund (SnCF Global), managed by Pegasus Capital Advisors (PCA), as a Category I-2 programme. It confirms that an Environmental and Social Management System (ESMS) has been established and disclosed in multiple languages to accommodate target countries across Africa, Asia-Pacific, Latin America and the Caribbean, and the Mediterranean.

The report identifies significant gender disparities in Morocco's rural agricultural sector, where women face high rates of illiteracy, lack of land ownership, and limited access to finance. In the Saïss Plain, these barriers—combined with a prevalence of unpaid informal labor—make it unlikely that women will automatically benefit from project-driven irrigation improvements. To address this, the document recommends a dedicated component to support women-led agribusinesses through capacity building, formalization of informal activities, and improved access to credit and markets.

The report finds that most green economy plans lack meaningful participation from marginalised groups, fail to specifically target the poorest to reduce inequality, and do not sufficiently address the limits to growth or the urgency of the low-carbon transition.