2X Criteria is the global industry standard for assessing and structuring investments that provide women with leadership opportunities, quality employment, finance, enterprise support, and products and services that enhance economic participation and access. They have been widely adopted by investors, financial intermediaries and companies as well as other stakeholders worldwide to assess and monitor gender-lens investments, unifying investors under one framework and language.
2X Criteria
Overview
The 2X Challenge, underpinned by the 2X Criteria, has played an important role in building the field of gender lens investing (GLI). Today, hundreds of companies and investors around the world use the 2X Criteria as a global standard for gender finance.
The 2X Criteria is a public good and can be used by anyone in the market to set their own targets for new business and portfolio, and self-report on their alignment with the 2X Criteria. This means, the 2X Criteria are applicable to any kind of investor or financial institution, whether you are an impact investor, development finance institution, international finance institution, multi-lateral development bank, pension fund, endowment, asset manager, private equity firm, individual investor or other capital providers to screen and mark/tag deals as 2X-aligned for their internal reporting and tracking purposes.
The 2X Criteria can also be used by private sector companies to assess their practices against the criteria.
To understand how to apply the 2X Criteria in various sectors, context and geographies, it is important to use the 2X Criteria Reference Guide. This guidance is tailored towards investment transactions. However, independent companies can also assess their practices against the 2X Criteria using this guide.
The 2X Criteria Reference Guide will be occasionally updated. Users who download the Reference Guide will be notified when an update is available.
In November 2024 2X Global approved some changes to the 2X Criteria for Funds. The changes will be part of the next update to the Reference Guide. For interim access to a public memo on these changes, please Contact Us.
2X Criteria alignment
Alignment with the 2X Criteria can be achieved by meeting the Basic 2X ESG (including safeguarding) and minimum Governance & Accountability requirements, AND (a) have at least ONE of the six 2X Criteria met, and (b) provide a time-bound commitment to meeting an additional Criteria. Thresholds under each Criterion are country and sector specific.
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Basic 2X ESG refers to the basic assessment of an investee’s fundamental environmental and social (E&S) standards that is required for 2X alignment. The investee’s ESG performance should be a factor when assessing 2X alignment to confirm that the investee is not contributing to negative impacts on women.
Environmental & social risk management (E&S) according to international standards as well as Business Integrity checks represent the foundational starting point. Particular attention must be paid to gender risks, including gender-based violence and harassment (GBVH) in advance of qualifying any investment under the 2X Criteria.
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The Governance & Accountability (G&A) Criteria is intended to offer a thorough assessment of intentionality. Intentionality has always been a key principle of the 2X Criteria and is now codified as G&A.
Minimum Governance & Accountability requirements to be 2X eligible include at least:
One (1) indicator in Strategic action,
One (1) indicator in Management systems, and
One (1) gender data requirement.
2X Criteria thresholds
These thresholds provide minimum requirements for global gender lens investment and organisational practices for companies and investors of all sizes.
It is responsive to country and sector-specific benchmarks based on the best available data at the time. All underlying sources & the methodology for benchmarking are linked underneath the tool. The tool works best when used on a desktop browser.
Questions? Clarifications?
If you have any questions or clarifications on the 2X Criteria Reference Guide or 2X Criteria Thresholds, please reach out to us.
2X Challenge 2024-2027
The 2X Challenge is a flagship initiative launched by 2X Global at the G7 Summit 2018 to increase investments that empower women in developing countries to access economically beneficial opportunities, products and services.
Since its inception, the 2X Challenge has collectively raised US$ 33.6 Billion in gender lens investments from 2018 to 2023.
The next round of the 2X Challenge brings together public and private capital providers to commit to invest and mobilise at least US$ 20 Billion over three years under the 2X Criteria. Given the urgency of climate action, investments at the nexus of gender and climate finance are encouraged.
Move billions with us.
2X Criteria IRIS+ metrics
Download our guidance note for investors entitled “How to Measure the Gender Impact of Investments: Using the 2X Challenge Indicators in Alignment with IRIS+”.
This publication will be updated soon based on recent updates to the 2X Criteria.
