New Climate Alliance Aims To Boost Clean Energy Adoption In India

India-West Staff Reporter

LOS ANGELES, CA – A new initiative called the Climate and Finance Innovations (ClimaFii) Alliance is set to help microenterprises in India and sub-Saharan Africa access clean energy technologies, boosting both economic growth and climate action. The program is a collaboration between the Shell Foundation, Accion, BFA Global, and Upaya Social Ventures, bringing together expertise from nonprofits and organizations focused on inclusive finance, clean energy innovation, and sustainable business development.

Micro, small, and medium-sized enterprises (MSMEs) play a vital role in these regions, providing the majority of employment—80% of jobs in Africa and 62% in India. However, these businesses face a huge barrier in accessing financing for tools and technologies that could both cut emissions and increase productivity. The financing gap for these MSMEs exceeds $5 trillion.

The ClimaFii Alliance aims to fill this gap by developing technologies that reduce emissions and creating financial products designed for microentrepreneurs. These solutions include solar-powered equipment for farmers, electric vehicles for delivery drivers, and clean cooking technologies for small businesses. Accion, a nonprofit that focuses on inclusive finance and has impacted underserved communities globally, will partner with financial institutions to provide affordable financing options, ensuring microenterprises can adopt these vital tools.

The program is designed to support both climate goals and economic growth, helping MSMEs in emerging markets transition to cleaner, more sustainable practices.

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