JCM qualifies for the 2X Challenge
JCM Power is dedicated to the development, construction, and operation of high impact renewable energy projects in emerging markets. In addition, JCM aims to empower women through these projects with active community engagement, job creation, and training, including prevention and response to Gender Based Violence and Harassment (GBVH) for employees, community members, and other stakeholders of all genders.
In December 2021 it was announced that JCM has qualified for the 2X Challenge, an initiative to mobilize capital for women, established by the G7 Development Finance Institutions (DFIs). The 2X Challenge aims to mobilize $15 billion of private sector investment through DFI funding to provide women in developing countries with improved access to leadership opportunities, quality employment, finance, enterprise support and products and services that enhance economic participation and access. The 2X Challenge identifies eligible companies directly or through financial intermediaries that are committed to one or more of these areas.
Through qualifying for the 2X Challenge, JCM has made the following gender related commitments:
We will strive to have at least 30% of our project companies meet the 2X-qualification criteria for women as entrepreneurs, leaders or employees within 5 years of initiation of development;
100% of our Project companies will have a gender equality management plan in place within 12 months of financial close;
the adoption of a company-wide gender equality strategy (which has already been completed);
the development of a 2X toolkit for project companies for which the roll out is already underway; and
for project acquisitions or other projects where JCM is not a majority owner, we will endeavor to influence gender equality improvements where/when possible.
“JCM Power is proud to join the 2X Challenge. We have seen first hand the benefits of supporting women and we are committed to taking bold action to strengthen their economic prosperity and improve their livelihoods. We are looking forward to continuing our efforts to foster women’s economic empowerment to affect real and lasting change.” – Christian Wray, JCM Chief Executive Officer and Co-Founder
JCM looks forward to implementing our commitments and strengthening the role we can play as a climate-sector company to promote gender action and proactive community engagement.
