What is the Giving to Amplify Earth Action (GAEA) Initiative?

January 18, 2023

The World Economic Forum, in partnership with over 45 organizations, has launched the Giving to Amplify Earth Action (GAEA) initiative. The goal of GAEA is to fund and grow new and existing public, private, and philanthropic partnerships (PPPPs) to unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss, and restore biodiversity by 2050.

GAEA’s Partners and Objectives

GAEA’s growing body of philanthropic partners includes organizations such as the African Climate Foundation, Bezos Earth Fund, and the Rockefeller Foundation. Over the next 12 months, GAEA will work with these partners and McKinsey Sustainability as a knowledge partner, to build momentum around three clear objectives:

Convene leaders from the public, private, and philanthropic sectors to identify and target climate and nature solutions where they are best positioned to play a catalytic role.
Pilot and refine funding models that can support PPPP interventions.
Scale up funding for targeted climate and nature solutions, leveraging philanthropy as a catalyst for attracting and deploying other forms of financing.

The Role of Philanthropy

Philanthropic giving can address this funding gap, with unique qualities not found in other financing. Philanthropy is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns. Philanthropic financing for climate mitigation has risen in recent years, but still represents less than 2% of total philanthropic giving, estimated at $810 billion in 2021.

GAEA aims to change this by tapping into the potential of philanthropic funding to catalyze and attract other forms of financing to help unlock the $3 trillion needed annually to reach net zero, reverse nature loss and restore biodiversity by 2050.

World Economic Forum (WEF)

The World Economic Forum (WEF) is a Swiss non-profit organization that brings together leaders to discuss global issues.
Founded in 1971 by Klaus Schwab
Mission is to “improve the state of the world” by shaping global, regional, and industry agendas.
WEF’s activities include publishing research reports, hosting events, and providing a platform for collaboration.
WEF’s 2023 annual meeting in Davos Switzerland.

« Previous PostNext Post »