Bridging gender and climate: Truvalu's roundtable promotes Gender Lens Investing in Bangladesh
On November 11, 2024, Truvalu, in collaboration with The Business Standard and with support from the Embassy of Switzerland in Bangladesh, hosted an insightful roundtable focused on the intersection of climate change and gender inclusion through innovative financing strategies. The event brought together a diverse group of investors, women entrepreneurs, and representatives from development organisations to discuss how gender-sensitive financing and Gender Lens Investing (GLI) can help gender-focused SMEs in Bangladesh tackle climate change and foster sustainable growth.
Machteld Ooijens, director of Global Programs and Partnerships at Truvalu, opened the session by discussing how collaboration across the ecosystem can accelerate progress. She emphasised that through GLI, Truvalu aims to advance gender equality while making more informed investment decisions that create both environmental and social impacts. "Gender equality is not just a human right; it's a smart business case," she stated, underscoring how investing in women-led businesses can unlock significant potential for community resilience and sustainable resource management.
Ameena Chowdhury, programme manager at the Embassy of Switzerland in Bangladesh, emphasised the importance of inclusive financing models that empower women to address climate vulnerabilities. She highlighted Switzerland's commitment to promoting sustainable solutions that drive both gender equity and climate resilience.
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The discussions also focused on the challenges faced by women entrepreneurs, particularly in rural areas, who are disproportionately affected by climate-related events such as droughts, floods, and rising sea levels. Many of these women depend on agriculture and natural resources for their livelihoods, which are increasingly jeopardised by climate change. Despite these challenges, women are often excluded from financing opportunities due to structural barriers such as lack of collateral and limited access to networks.
Truvalu's Managing Director, Sharawwat Islam, expressed gratitude to the participants, calling the roundtable a significant step toward exploring solutions that address both climate change and gender equity. She highlighted the need to strengthen partnerships between investors, banks, consultants, and women-focused green businesses to create more inclusive financial products.
The event ended with a commitment to support female entrepreneurs in creating climate-resilient solutions, aiming to bridge gender gaps and foster sustainable growth in Bangladesh.
Key attendees included Sharawwat Islam and Machteld Ooijens from Truvalu, Ameena Chowdhury from the Embassy of Switzerland in Bangladesh, Prawma Tapashi Khan from ACCA Bangladesh, Tanzeri Hoque from Eastern Bank Ltd, Taufiqur Rahman from IPDC, Sarah Iqbal from Sajida Foundation, and several other influential figures from the development and finance sectors.
Breaking barriers, building resilience through Gender Lens Investing
Machteld Ooijens, director of programs and partnerships, Truvalu
As we begin our four-year journey with the Gender Lens Investing (GLI) programme in Bangladesh, I'm thrilled to share how we're building on last year's insights and experiences. With support from the Embassy of Switzerland, we have launched a stronger, more impactful programme.
Driven by the invaluable support and encouragement of our stakeholders, including B-Briddhi, we organized this roundtable discussion today in partnership with The Business Standard. Together, we want to explore the vital role of women's empowerment in addressing today's critical climate challenges.
In our Gender Lens Investing initiative, we're striving to address several pressing issues. Cultural norms often expect women to prioritize family over business, limiting their time and resources. Access to networks, mentors, and information is still limited for many women. And while women bear the brunt of climate impacts, they're often left out of climate resilience planning. This programme aims to change that.
We're also aware of the challenges financial institutions face. Beyond the need for collateral, many women-led businesses are not yet formalized or completely investment-ready. Unconscious biases sometimes affect decisions, and the focus of green financing tends to favor large, male-led corporations. To make real progress, systemic change is essential.
The question we would like to ask is: can we ensure climate-focused gender financing and gender-sensitive climate financing? I'm confident that with the combined support of all ecosystem players, we can.
Addressing gaps in climate financing
SHARAWWAT ISLAM, CFA, Managing Director, Truvalu Bangladesh
As we begin our four-year journey with the Gender Lens Investing (GLI) programme in Bangladesh, I'm thrilled to share how we're building on last year's insights and experiences. With support from the Embassy of Switzerland, we have launched a stronger, more impactful programme.
Driven by the invaluable support and encouragement of our stakeholders, including B-Briddhi, we organized this roundtable discussion today in partnership with The Business Standard. Together, we want to explore the vital role of women's empowerment in addressing today's critical climate challenges.
In our Gender Lens Investing initiative, we're striving to address several pressing issues. Cultural norms often expect women to prioritise family over business, limiting their time and resources. Access to networks, mentors, and information is still limited for many women. And while women bear the brunt of climate impacts, they're often left out of climate resilience planning. This programme aims to change that.
We're also aware of the challenges financial institutions face. Beyond the need for collateral, many women-led businesses are not yet formalised or completely investment-ready. Unconscious biases sometimes affect decisions, and the focus of green financing tends to favour large, male-led corporations. To make real progress, systemic change is essential.
The question we would like to ask is: can we ensure climate-focused gender financing and gender-sensitive climate financing? I'm confident that with the combined support of all ecosystem players, we can.
IPDC's focus on SMEs, carbon reduction, and women's leadership
MAHAMUDUL FARID, Manager, Refinance Team, MME, IPDC Finance
At IPDC Finance, we focus on sustainable financial products that support SMEs and the environment. Partnering with Bangladesh Bank's Sustainable Finance Department, we aim to enhance lending by reducing carbon emissions and promoting women's leadership.
Certain industries, like small rural garment factories, significantly contribute to carbon emissions due to fuel-burning generators and inefficient energy practices. To address this, we plan to design financial products that help businesses adopt eco-friendly practices while enabling sustainable growth.
We also see strong potential in women-led enterprises, especially in the small business sector. Despite increasing female workforce participation, women's leadership in larger corporate sectors remains limited. Supporting women entrepreneurs with tailored financial products could bridge this gap.
To achieve this, we're exploring partnerships with central banks and international development institutions to introduce soft loan schemes and loan guarantees for women-led businesses. These initiatives can help scale such enterprises, making them more competitive and resilient.
Our commitment is to mobilise funds for impactful, bankable projects that foster growth, reduce emissions, and encourage women's leadership in Bangladesh's business landscape.
Nurturing safe food: A woman entrepreneur's inspiring journey
JESMIN AKHTAR NEELA, Founder of Shondibazar
At Shondibazar, we focus on safe and sustainable food. We work closely with rural farmers, emphasizing biodegradable packaging and low-pesticide farming. This journey was made possible with support from Eastern Bank Limited (EBL).
When I first applied for a Tk9 lakh SME loan, EBL was the only bank to step forward. They took the time to understand my vision, offering solutions that grew with us. As we repaid the initial loan, EBL introduced us to the Bangladesh Bank Startup Fund, providing a 50-lakh loan at just 4% interest.
As my business grew, I joined EBL's "Joyee" training program, where I had the chance to share my journey. This connection led to a 1-crore loan at the same low rate in 2022, further fueling our growth. Today, we've scaled significantly, with 67 employees and a thriving, impact-driven business.
However, when my young son was diagnosed with hyperactivity, I became acutely aware of the importance of food quality. This led me to investigate food safety, where I discovered how common spices like cumin were often adulterated. Driven by the need for safe food, I founded Shondibazar, not just for my family but for all families.
As a woman entrepreneur, my journey involves unique challenges. The balance between family and work is complex, and I believe policies and banking products should reflect these realities.
Climate-conscious businesses need more than loans—they need incentives and human-centred support to create sustainable change. With the right financial solutions and meaningful partnerships, we can build resilient businesses that benefit both people and the planet.
Empowering Bangladesh's entrepreneurs through true inclusivity
Saad Habib, ESG consultant for South Asia, IFC
As an ESG consultant with the International Finance Corporation (IFC), I see sustainable practices as essential for setting Bangladesh's businesses on a path to long-term success. In today's world, Environmental, Social, and Governance (ESG) standards are more than values—they are critical to resilience and growth, especially for small and medium enterprises (SMEs).
Women entrepreneurs, in particular, face unique challenges. Much of our current support focuses on women's skill-building and financial literacy. However, these resources benefit all entrepreneurs, especially in sectors where women make up much of the workforce.
Inclusivity also depends on corporate policies, especially those that encourage leadership diversity. In Bangladesh, publicly listed companies are now required to have independent female directors on their boards.
While this is a positive step, many family-owned businesses appoint female relatives without giving them real influence, which limits the benefits of diverse perspectives. Real change comes from creating a workplace culture where every voice, especially women's, is valued and respected.
Another key aspect is ESG reporting. More companies are now adopting the International Financial Reporting Standards (IFRS) for sustainability. However, many SMEs lack the guidance to implement ESG principles. That's why it's essential to support these companies with frameworks to measure their environmental impact—from emissions to waste management. ESG practices not only help businesses run more efficiently but also reduce risks and increase profitability.
Sustainable practices should be woven into the business model, contributing directly to revenue and resilience. Moving forward, the focus must be on transparency and consistency in reporting, which enables companies to showcase their commitment to sustainable growth and responsible governance. This approach will help Bangladesh's businesses thrive in a way that benefits employees, communities, and the environment alike.
Investing in women, strengthening SMEs for an inclusive growth
AMEENA CHOWDHURY, Programme Manager, Embassy of Switzerland in Bangladesh
Switzerland has been supporting sustainable growth, with a strong focus on SME development in Bangladesh for close to a decade, recognising the contribution of SMEs to Bangladesh's economic progress.
Gender and climate change and environment are two of our three transversal themes in the Swiss Cooperation Programme for Bangladesh 2022-25. In our approach, we emphasise a transformative gender approach, focusing on the political, social, and economic empowerment of women and considering the role of men and engagement of the broader communities.
In Bangladesh, where climate challenges disproportionately impact women, we address gender and climate together for meaningful change. We partnered with Truvalu and Biniyog Briddhi to promote the idea of GLI to address the challenges that gender-responsive SMEs encounter in accessing loans and investments.
To close the gap, we need to "mainstream" GLI and move GLI from a niche investment opportunity to a strategy on par with regular investments. Building awareness amongst financial institutions, venture capitalists, regulators, and SMEs remains key.
We hope that Switzerland's support will encourage more capital and debt financing towards gender-responsive businesses through increased knowledge and awareness, thereby driving economic growth and environmental impact.
We do not want to 'gender wash' or 'green wash'! Together with all of you, let's create a strong business case for investing in women—because it's not only about equality and access but also sound economics that drives lasting impact.
Beyond carbon: Focusing on climate adaptation for vulnerable communities
Ashraful Haque, Senior Staff Feature Writer, TBS
In Bangladesh, climate change discussions should focus on impacts rather than carbon emissions, as our contributions to global emissions are minimal. This shift can influence financing strategies.
Rather than solely funding urban climate startups with a low success rate, investing in women in climate-affected coastal areas can yield greater returns. These resilient individuals can transform limited resources into valuable outcomes.
Micro, small and medium-sized enterprises (MSMEs) in these regions offer direct empowerment opportunities for women. Despite concerns about loans benefiting male relatives, women in salinity-affected areas often lead households due to male migration. For example, sunflower cultivation thrives here, but the absence of oil extraction facilities limits its potential. Equipping families with such mills or supporting moringa cultivation, which grows well in saline soil, can boost resilience.
Freshwater is another vital resource, opening opportunities for small water filtration businesses using pond sand filters or reverse osmosis plants. Investments in these areas, coupled with improved market access through the Internet, can strengthen communities sustainably.
Traditional banks may struggle to reach these families, but partnerships with NGOs can bridge the gap through innovative funding techniques, ensuring impactful, community-driven solutions.
From documentation to distribution: How City Bank supports female entrepreneurs
Junayed Bin Rashed, City Bank
With 61 banks and 34 NBFIs in Bangladesh, many institutions, including ours, are creating programs for women entrepreneurs. Yet, challenges remain, particularly in guiding clients on required documentation for loans and bank accounts.
Many bank officers lack knowledge about trade licences, VAT certificates, or import/export certifications, especially in regional branches. To address this, we've formed a support network with university experts, experienced bankers, and product specialists. Using WhatsApp and Facebook groups, clients can quickly get answers to their queries, easing the process.
Our partnerships with educational institutions also help, but traditional lectures often miss the mark. Instead, we offer simpler training on bookkeeping, starting with basic tallies to suit clients' needs.
Recognizing that many women entrepreneurs work from home, we use yard meetings to provide advice on challenges like finding distributors or suppliers. These sessions foster networking and help us build a database of contacts for clients.
Beyond financial services, we're addressing diverse needs, from documentation support to health insurance, by training staff better. While there's more to explore, we're optimistic about City Bank's growing role in empowering SMEs and women entrepreneurs across Bangladesh.
