WEF Launches Initiative To Unlock $3 Trillion A Year For Climate And Nature.

January 19, 2023

World Economic Forum HAS launched Giving to Amplify Earth Action (GAEA)to help unlock $3 trillion of financing needed each year to reach net-zero, reverse nature loss and restore biodiversity by 2050.
Global initiative is to fund and grow new and existing public, private and philanthropic partnerships (PPPPs) and is supported by more than 45 partners (including India’s HCL Technologies).
Philanthropic financing for climate mitigation has risen in recent years, but still represents less than 2% of total philanthropic giving.
Advantage of philanthropic financing: It is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns.