Dear Friends,

As 2024 comes to a close, I reflect on a year as bold and vibrant as the Orange Movement™ — defined by grit, growth, and an unrelenting commitment to building a more inclusive and sustainable world.

This year, our Orange global village blossomed into a community of 250,000 Signatories, united by a shared vision of empowerment and equity. We entered new markets—Nigeria, Seychelles, and Mauritius—planting seeds of transformation through investment and ecosystem-building. We laid the groundwork for sovereign and corporate Orange Bonds in Bangladesh and Indonesia, turning bold ideas into actionable steps toward systemic change. From six continents, our Orange Bond Verifiers are championing the cause of gender equality and climate action. At the Orange Forum in Singapore, we celebrated these milestones as a global community, proving that together, we can turn audacious dreams into reality.

Through IIX Intelligence™, we transformed 15 years of impact data into powerful, actionable insights, unveiling stories of resilience and innovation from micro, small, and medium businesses across Asia, the Pacific, and Africa. This data paints a clear picture: real climate action begins when women and marginalized communities are at the forefront, leading with purpose and conviction.

These stories are more than statistics—they are lives transformed. They are women like Trang from Vietnam, who runs a women-led business driving national solar initiatives with support from a Women’s Livelihood Bond™ loan. Trang’s journey is a testament to what happens when capital meets courage and when finance serves as a force for good. As we close the year, we’re gearing up for the largest Women’s Livelihood Bond™ issuance yet, ensuring more women like Trang have the tools to shape their futures and communities.

This work is only possible because of the 120 PREMs (Passionate, Resilient, Equitable, Maverick IIXers) across 11 countries who pour their hearts and minds into creating change every single day. To my team, thank you for believing in this mission, embodying defiant optimism, and pushing boundaries—even in the face of challenges. These growing pains make us stronger, more innovative, and more determined to build systems that serve everyone.

As we step into 2025, let’s not slow down. Let’s dream bigger, act bolder, and uplift more lives. Together, we’re creating a world where every person—regardless of gender, geography, or circumstance—has a voice and a seat at the financial table.

But change needs champions—it needs you. I invite you to join this unstoppable movement by signing the Orange Pledge. Together, we can ensure that every action, every dollar, and every decision moves us closer to a sustainable and inclusive future.

Thank you for walking this journey with us. I wish you and your loved ones a joyful holiday season and a transformative 2025.

Here’s to painting the world Orange—one act of defiant optimism at a time.

With gratitude, determination and Defiant Optimism


Prof. Durreen Shahnaz
CEO and Founder, Impact Investment Exchange (IIX)
PREM – Maverick