Moto Hope Capital’s Climate Action Financing seeks to support mitigation and adaptation actions that will address climate change. The financing is needed to adapt to the adverse effects and reduce the impacts of the ever-changing climate.
Moto Hope Capital a social enterprise targeting the unbanked that need affordable financing in order to transform their lives has 88% of its beneficiaries residing in rural, peri-urban & informal settlements in urban areas.
To promote environmental conservation and healthy clean energy use, MHC time and again revamps its financing of clean energy products for its target groups who largely depend on fossil fuels since they are not connected to energy grids and cannot afford alternative clean energy at current market prices.
To date, Moto Hope Capital has financed over 2,220 Climate Action Products. These Climate Action Loans enable low-income earners in rural, peri-urban, and informal settlements to acquire Green energy products for cooking, heating, lighting, & agriculture.
Beneficiaries acquire energy-saving cooking stoves, solar lamps, solar-powered borehole pumps, solar irrigation kits, etc. at subsidized costs and start to enjoy using them immediately, while they make payments in installments, at friendly repayment terms that are not a strain on their limited resources.
Additionally, they are also able to acquire other otherwise unaffordable solar-powered items like fridges and other clean energy products such as electric bikes among others. The financing also goes towards biogas plant installation for agricultural homesteads that have substantial animal and crop waste. Moreover, MHC has added tree nursery financing which goes towards forest cover restoration, especially in communities that depend on wood and charcoal fuel.
Moto Hope Capital Climate Action Financing’s impact is; directly supporting environmental conservation and improving health outcomes while saving households money and time. The green energy cooking stoves and biomass energy in this financing save fuel by 75% and reduce smoke emissions by 95%, reducing the number of premature deaths from indoor air pollution. To date, 5,600 tonnes of CO2 emissions have been avoided per year and 5161.29 tonnes of wood saved.
Additionally, the time saved, up to 5 hours daily, and money saved yearly at an average of US$ 350 per household, are redirected to income-generating activities and jobs. Lives are improved due to improved health outcomes and saved and/or raised earnings. Children’s welfare is improved by reduced respiratory illnesses and their education is fostered by additional study time due to less time spent collecting wood or cooking and proper lighting for studying.
Moto Hope Capital is cleaning our air and improving our planet, one climate action at a time!