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"To reach the speed and scale required to heal the earth's systems, we need to unlock not only private capital and government funds, but also the philanthropy sector as a truly catalytic force to achieve the necessary acceleration."
That's why the WEF has launched the Giving to Amplify Earth Action (GAEA), a global initiative to fund and grow new and existing public, private, and philanthropic partnerships to help unlock the $3 trillion needed each year to reach net zero, reverse nature loss, and restore biodiversity by 2050.
"Current funding is slow and inadequate, and a new approach is needed to get capital flowing," Schwab says.
"Philanthropic giving can address this, with unique qualities not found in other financing: it is nimble, more tolerant of risks, and is driven by values and long-term outcomes rather than quarterly returns."
Giving to Amplify Earth Action is supported by more than 45 partners, including the African Climate Foundation, Andre Hoffmann Family Office, the Arab Foundations Forum, Bezos Earth Fund, BMW Foundation, Children's Investment Fund Foundation, the Clean
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The People's Bank of China says it will start allowing people in China to use the country's new digital currency, the Digital Yuan, to buy goods and services starting next month, the BBC...more
When it comes to corporate social responsibility, India's government and public sector companies are at the top of the list.
But when it comes to companies of all sizes, they're at the bottom,...more
The world's biggest state investors are getting into the business of making positive social and environmental impact investments.
Singapore's Temasek Holdings, one of the world's largest state...more
"Our long-term vision is to see every dollar invested globally as a net positive for people and planet."
So says Niklas Adalberth, the founder of Norrsken Foundation, which operates Norrsken VC,...more
When it comes to giving back to the communities in which they operate, India's companies are in a race against time to up their game.
A new survey from Deloitte finds that just 28% of companies...more
Indian companies are spending more and more on philanthropic efforts.
A survey of 185 companies by accounting and consulting firm Deloitte found that 25% of them spend more than $100 million a...more
Indian companies are spending more and more time thinking about how to make a positive impact on the world around them, the Economic Times reports.
According to a survey of 185 companies by...more
During the Covid-19 virus, many businesses took a hard look at how they do business and realized they needed to do more to attract and retain top talent, Forbes reports.
According to a report...more
"We've noticed that there are a wide variety of investment opportunities that can truly be transformative for women's and children's health and have confirmed, time and time again, that without...more
Italian crowdfunding site Ener2Crowd has just launched a new service called FidoGreen, which it says is the first "sustainable finance platform for sustainable investments," Quartz...more
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.