Wednesday, 29 May 2024
    Rise in philanthropic donations towards climate and environment
    16
    May
    Environment, Philanthropy, climate, protection

    Rise in philanthropic donations towards climate and environment

    The Australian Environmental Grantmakers Network (AEGN) has released a report revealing a rise in philanthropic donations towards climate and environmental causes. According to the report, philanthropy in this sector has grown at a rate ten times higher than overall philanthropy. This is indeed a positive trend, indicating a growing awareness and concern for the pressing issues related to climate change and environmental degradation.  

    Despite this, the report highlights a concerning fact: while the ocean covers about 70% of the planet, it receives less than 1% of global philanthropic funding for its protection.  

    AEGN CEO, Amanda Martin OAM, emphasised the firsthand experience of the devastating impact of climate change in Australia, “We have plenty of first-hand experience in this country of the devastating impact that climate change is having on our communities.”

    While the increase in structured structured philanthropy for climate and environment is encouraging, there are global indications that this growth is slowing down.

    The report shows a promising development, given the scale of the climate challenges, however there are signs globally that funding growth is plateauing. Martin tells us, “While structured philanthropy directed to climate and environment now represents 5% of broader giving, there is a need for this to continue to grow to match the scale of the challenges faced by our natural world. This is the critical decade for action, and we need all hands on deck.” 

    However, despite the growing donations, it is evident that there is still much work to be done. Martin’s call to action demands a collective effort from all players, and at Procurement Australia, our commitment is to prioritise the well-being of people and the planet.  

    The report serves as a reminder that while progress is being made, the scale of the challenges requires sustained and increased support from philanthropy to safeguard our environment for future generations. 

    Source: https://www.philanthropy.org.au/news-and-stories/climate-and-environmental-philanthropy-surges-aegn-report-finds/