Powering up philanthropy for climate goals

In this episode, Genevieve Cua speaks to Anthony Gao, Head of Philanthropy Services Asia with Pictet Wealth Management, to discuss the power of blended finance in philanthropic goals.

Philanthropy, traditionally focused on addressing immediate human welfare needs, has historically allocated a mere 2% of its spending towards tackling climate change. However, there is a growing realization that climate change has direct and profound impacts on human well-being, including hunger, disease, and poverty. Consequently, there is a shifting perspective that recognizes the crucial role of philanthropic efforts in combating the climate crisis. With its long-term perspective, risk-taking ability, and mission-driven nature, philanthropic capital has the potential to be a potent tool in addressing climate change and its associated social and environmental challenges.

In recent years, blended finance has emerged as a widely adopted approach in the energy sector, specifically to promote renewable energy solutions. Various stakeholders, such as government agencies, multilateral development banks, and family offices, have established dedicated funding windows to support innovative blended finance projects, particularly in the climate sector.

Blended finance involves combining different types of capital to create a powerful mechanism for achieving climate objectives. By leveraging philanthropic capital alongside other sources of funding, philanthropists can play a vital role in driving sustainable solutions and accelerating progress towards climate goals. This approach allows for greater financial resources, expertise, and collaboration, ultimately leading to more impactful and scalable initiatives.

Listen to the podcast to learn more about:

• Understanding blended finance
• Singapore's approach to blended finance
• Philanthropy in the context of climate objectives
• Understanding blended finance mode
• Trends and approaches in blended finance
• Challenges and solutions for blended finance in Asia

About WealthBT Podcast

Learn to protect and grow your wealth in this podcast series for affluent individuals, hosted by The Business Times wealth editor Genevieve Cua and Pictet experts in selected episodes.

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