On the occasion of the Global Social Business Summit in Kuala Lumpur (Malaysia), myclimate and Yunus Social Business have launched the Social Business Climate Innovation Fund. The goal of this fund is the worldwide promotion of social businesses, which make demonstrable contributions to climate protection. The Social Business Climate Innovation Fund promotes social businesses with start-up support and venture capital. Social businesses which actively seek sponsorship must demonstrate a contribution to climate protection. The initial projects will be realised in 2014.
"myclimate and Yunus Social Business perfectly complement one another. Yunus Social Business brings expertise in the promotion and development of social businesses, and myclimate brings expertise in carbon finance and project development", said René Estermann, CEO of myclimate.
"With its Social Business Incubator Fund, Yunus Social Business has developed an innovative tool for the promotion of social businesses. With his Social Business Climate Innovation Fund, Muhammad Yunus and his team are responding to one of the greatest challenges facing us today: Climate change" said Sophie Eisenmann, co-founder and CFO of Yunus Social Business.
In 2011, myclimate was able to land Noble Peace Prize winner Yunus as a member of its patronage committee. This led to the launch of the Social Business Climate Innovation Fund