Determination + proof

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Subject: Determination + proof

2X Global: Unlocking gender-smart capital at scale

Dear Friend,

Welcome to 2026. At this point, last December may feel very, very far away but we hope you remember and resonate with the message we left you with at the end of 2025 which was ‘feel the fear and do it anyway’.

It was a message grounded in the rallying call from gender lens investing pioneer Tokunboh Ishmael at the 2X Global Summit in 2025, where she urged us “to recommit to the truth. We cannot afford to give up. We have to walk out of this room with a renewed sense of connection, hope and determination. Create new allies and get existing allies on board. Go forth, you can do it. Feel the fear and do it anyway.”

This is the energy we are taking with us into and throughout the whole of 2026 because if the past few years have taught us anything, it’s that progress rarely comes from perfect conditions.

It comes from determination, from clarity of purpose, and the willingness to move forward even when the path isn’t fully mapped. This year, we’re more determined than ever because advancing equity in finance isn’t optional, and it certainly isn’t something to be paused in uncertain times.

However, determination and energy have to be buttressed with proof, evidence and data which is why for us at 2X Global, 2026 is about sharpening the business case and accelerating action on GLI.

This year will see us launching our 2X Quarterly Industry Pulse, a research initiative designed to capture real-time insights from across the ecosystem and help build a stronger, evidence-based case for gender lens investing. Your participation will help us turn conviction into data, and data into action.

We’re focused on advancing women as capital allocators at every level — from angel investors and emerging fund managers to those stewarding significant pools of wealth. As the Great Wealth Transfer gathers pace, the question is no longer whether women will shape the future of capital, but how intentionally and equitably that power is mobilised.

We’re also doubling down on the urgent intersection of climate and gender. Climate finance that fails to account for gender dynamics isn’t just incomplete - it’s inefficient. And as risk landscapes shift, we’ll continue to make the case that gender diversity is not a “nice to have,” but a proven buffer against financial and systemic risk.

The year ahead will demand courage, collaboration, and clarity. We’re ready and we’re glad you’re with us.

Keep reading for a selection of the latest GLI news and insights.

In Community,

2X Global Team

News from the field

Mainstreaming gender lens investing. In a new piece on Medium, our CEO Jessica Espinoza asks: what if 2026 is the year women take the main stage? She reimagines global finance - from pension funds treating gender inequality as fiduciary risk, to capital coming with gender governance standards baked in, challenging whether economies can afford not to prioritise women. IFC has published a new case study on its Invest2Equal programme, showcasing how 16 private equity and venture capital fund managers in emerging markets advanced gender equality within their firms and investment practices—addressing gaps where women hold only 11% of senior investment positions and female entrepreneurs receive just 13% of equity capital. AVCA has released the first in a new research series on gender dynamics in Africa's private capital, revealing that while women comprise 38% of investment teams and 33% of investment committees - outperforming global benchmarks, only 7% of portfolio companies are female-founded, and gender diversity declines sharply as firms scale. IFC has invested up to USD 250 million in Scotiabank Mexico to expand access to housing finance for women, addressing Mexico's 9 million unit housing deficit and closing the gender gap in mortgage access, where only 4.5% of women hold mortgages compared to 7.2% of men.

Gender and Climate Investing. Climate-X has released its 2026 climate risk trends report, highlighting that climate adaptation is shifting from a financial concern to a strategic priority for resilience and competitiveness, with asset owners and managers increasingly expected to identify resilient assets that deliver higher returns as exposure continues to rise despite COP30's extended adaptation finance goal of USD 120 billion annually by 2035.

The Asian Development Bank and BIDV have signed a USD 250 million syndicated financing package to support climate-resilient agriculture and expand access to finance for women-owned SMEs in Viet Nam, supported by funding from the Canadian Climate and Nature Fund (CANPA), JICA, and commercial lenders. The EBRD has issued a €10 million loan to Tunisia's UBCI under its Green Economy Financing Facility to support green lending to MSMEs, with EU-backed technical cooperation focused on addressing gender gaps in access to climate finance. Climate Policy Initiative has published a new action brief on investing at the nexus of gender and nature, providing DFIs and MDBs with entry points to embed a dual nature-gender lens into investment processes, recognising women as indispensable agents of change in advancing biodiversity outcomes whilst ensuring equitable access to benefits from nature and ecosystem services.

Leadership, Culture and Policy, JEDI. Women across 27 European countries receive on average 22% lower pension income than men—ranging from 6% in Estonia to 37% in the UK—driven primarily by career interruptions for care work, part-time employment patterns, and lower lifetime earnings that compound into significant financial insecurity in old age. The UK government has launched the Office for the Impact Economy in the Cabinet Office to coordinate partnerships with businesses, social investors and philanthropists, aiming to unlock billions in impact capital, building on the country's £106 billion impact economy and following recommendations from the Social Impact Investment Advisory Group.

Data and Tools.The Luxembourg Sustainable Finance Initiative has released summary reports from its 2025 masterclasses, covering transition finance for a just and sustainable future, EU sustainable finance regulation, climate adaptation and resilience, and impact investing fundamentals, providing practical guidance for financial professionals on implementing sustainable finance strategies.

Care Economy. What if we defined care as infrastructure? In a recent Medium article, our CEO Jessica Espinoza posits that care - from childcare to elder and health care, should be recognised and financed as foundational economic infrastructure because its current undervaluation constrains labour markets and suppresses growth, despite its enormous contribution to global GDP and employment. A new UK study finds that the ‘sandwich generation’ - adults caring for both children and elderly relatives, are losing an average of £6,268 per year due to reduced work hours and employment exits, with women disproportionately represented among unpaid carers and facing significant impacts on long-term financial stability. In the United States, fears are rising that potential deportations of Haitian immigrants, many of whom work in nursing homes and elder care could deepen staffing shortages and disrupt care for older adults if their legal protections are not extended.

Resilience (GBVH, Financial Inclusion, Health, Security).

Take the time to listen to these two relevant recent podcast episodes from our member Women’s World Banking. This November episode at the start of 16 Days of Activism explored the financial costs of gender based violence and conversely, how finance can also be a tool to support survivors and build a bridge to safety and autonomy. The latest episode delves into how inclusive business models which pair financial access with skills and market linkages can create real economic opportunities for women at the margins. The African Development Bank calls for digital safety to be embedded into national ICT strategies in order to combat growing digital violence, calling it essential for women and girls to participate fully and safely in Africa’s expanding digital economy.

Community Calendar

2-4 February

Women’s Private Equity Summit APAC takes place in Capella, Singapore. Learn more here.

9-12 February

The Caribbean Philanthropic Forum takes place in Kingston, Jamaica, bringing together regional leaders, global allies and investors to shape a philanthropic ecosystem for the Caribbean region. Learn more.

24-26 February

The leading impact investment conference for Latin America, the Foro Latinoamericano de Inversión de Impacto (FLII) takes place in Merida, Mexico, under the theme ‘Unlocking the Impossible’. Learn more.

Thank you to our partners and supporters

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Subject: Determination + proof