April 20, 2024
  • 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.

 

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