Up to one billion dollars for sustainable development
(Sustainabilityenvironment.com) – Six funds to support investments that, alongside economic performance, also generate social and environmental value for sustainable development. They launched yesterday Global Citizen, the international education and defense organization that works to end extreme poverty. These are the new Global Citizen Impact Funds, “outcomes” funds designed to accelerate progress towards achieving the United Nations Sustainable Development Goals (SDGs).
The logic of outcomes is simple: you collect funds from one or more donors, providing the money only once it has been reached, and independently verified the predetermined social outcome.
There are six Global Citizen Impact Funds in all, focusing on education, equality, food security, health, sustainability and water. Each fund will mobilize from a minimum of 25 million to a maximum of 1 billion dollars in results-based donations for each area of impact on sustainable development. And the first beneficiaries have already been identified. These are strictly controlled organizations, which have turnkey, high-impact and measurable solutions where access to capital is the number one barrier to scalability.
“Urgent action is needed, our future cannot wait. People’s lives are at stake. The longevity of the planet is at stake”, commented Michael Sheldrick, co-founder and Chief Policy Officer, Global Citizen. “We need innovative approaches and courageous participation from the private and philanthropic sector to accelerate results towards the end of extreme global poverty, now more than ever. So we partnered with NPX, the leader in innovative finance, to design, manage and implement a revolutionary tool that can transform philanthropy and ensure that funding connects to evidence-and-data-based outcomes”.