Philanthropy can be deployed to bridge the gap between giving away money to do good and investing capital to make good returns. That is where the big money and big impacts will come from.

Through GAEA, we are seeing a new type of global collaboration where organizations from different walks of life choose to focus on the shared goal of combating climate change and come together to send a strong message to key markets. This is philanthropy extending a hand to the private sector and saying: “We are in this together; we are willing to help you transition your business models faster and at scale.

To address the global challenges particularly related to climate and nature, governments and businesses have to work together. Even under optimal conditions, this collaboration will not be sufficient if we do not add a new financial muscle to bring philanthropy into this coalition. The public-private-philanthropic vehicle created with GAEA is the best hope to safeguard the well-being of future generations.

Corporates have many ways to continue to put resources into climate and nature solutions. From our treasury, our startup strategy, our procurement, our bonds and our corporate philanthropies, we are happy to join the GAEA corporate philanthropy challenge to inspire and encourage more corporate philanthropies to pivot into climate and nature solutions and keep the 1.5 degrees Celsius target alive and raising $1 billion of catalytic resources to drive new solutions.

Philanthropies are looking for maximum impact, and this requires new ways of thinking. Each dollar granted needs to leverage additional funding, especially from the private sector. And, it all must be part of creating a movement for genuine change. This is what is so exciting about GAEA.

Solving our global climate challenge must involve solving for Asia. This demands urgent collective action and bold innovation powered by catalytic capital. Global platforms like GAEA mobilize multi-sector partnerships to unlock Asia’s big bets in climate and nature. We invite like-minded partners with the same ambition and bias for action to forge a sustainable future with us.

The COP28 Presidency fully recognises that addressing climate mitigation and adaptation is an enormous undertaking. With over 400 foundation heads from 82 countries participating, the COP28 Business & Philanthropy Climate Forum demonstrated that philanthropic capital will have an increasingly important role to play in catalysing business and government capital to meet these needs. As we look to COP29 and COP30, the collaboration with WEF and GAEA to turn pledges into action and implementation is invaluable.