INTRODUCING OUR 2024 IMPACT REPORT.

I am delighted to introduce the Global Innovation Fund's 2024 Impact Report, which we are launching this year to coincide with London Climate Action Week. The report details the progress we have made to advance GIF’s mission of accelerating innovation to improve the lives of the world’s poorest people, and reflects our increased focus on innovating for climate resilience in 2024.   

By 2030, climate change could push up to 130 million people into extreme poverty worldwide, driven by rising disease, food insecurity, and more frequent droughts, floods and heatwaves. This is why, in 2024, GIF focused its investment strategy on innovations addressing these challenges.

Through grants, loans and equity investments, GIF’s portfolio of innovations has the potential for outsized social impact whether through new technologies, policies, business models, or behavioural insights. In 2024, GIF invested in innovative forms of climate-smart agriculture, weather data analytics platforms and microfinance solutions enabling women to make their homes more resilient.

Innovations in our portfolio are expected to benefit 157m people in 2034, and our analysis shows that each dollar invested by GIF is already returning $9 in net social benefits. 

As GIF begins an exciting new strategic chapter, we are reviewing how and where we invest, while remaining committed to evidence-gathering and learning. In 2024, we formally launched GIF Growth, our new blended finance investment vehicle. We also renewed our commitment to placing an explicit value on women’s agency. In signing up for the 2X Challenge, GIF joined a multilateral coalition of public and private sector investors which committed to investing $20 billion in women’s economic empowerment over the next three years.

GIF’s partners include other mission-aligned government development agencies, foundations, businesses and private donors. I would like to thank them for their support and insights. I hope you enjoy reading the full details of GIF's impact, progress and achievements both in 2024 - and as we reflect on 10 years of operation.