The initiation of Philanthropy Asia Alliance (PAA) by Temasek Trust was announced at Philanthropy Asia Summit 2022 last September.
Since then, what has the PAA team been up to?
1) DEEPENING PARTNERSHIPS TO ADVANCE CLIMATE ACTION
Climate change is among the largest global challenges of the 21st century and Asian countries are much more vulnerable to natural disasters induced by climate change. 60% of the world’s most climate-vulnerable nations are in South and Southeast Asia[1]. Asia’s GDP may also shrink 26.5% by 2048, if no climate action is taken, versus an 18.1% reduction of the global economy in the same scenario[2]. Yet, Asia is the largest emitter, accounting for more than 50% of global emissions[3].
PAA has joined the Giving to Amplify Earth Action (GAEA) initiative by the World Economic Forum (WEF), its strategic partner, which aims to close the US$100+ trillion gap for equitable climate and nature solutions by forging new, diverse public-private-philanthropic partnerships. PAA will be scaling the impact of its existing climate initiatives and deepening its strategic partnership with WEF by supporting GAEA. Over the next year, GAEA will develop a Global Giving Roadmap that galvanises new and diverse sources of funding such as from Asia and brings global leaders as well as corporate foundations into the climate and nature space.
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“PAA will continue to amplify its impact by supporting initiatives such as GAEA to pool our collective resources and expertise, and translate ideas to action. GAEA’s first Asia-focused key deliverable that will be launched by PAA in partnership with WEF, is a climate philanthropy report on multi-stakeholder partnerships as a force to combat complex climate challenges.” – Ms. Lim Seok Hui, CEO, PAA. |
2) SUPPORTING CALLS TO ACTION TO ADDRESS COMPLEX CHALLENGES
PAA supports Calls to Action (CTAs) that leverage philanthropic capital and multi-stakeholder partnerships to test out innovative models to drive positive climate and community change. These include Improving Community Livelihoods through Biofuel Production which aims to bring research expertise to the commercial production of Jatropha, an oil crop. The Mangrove 40 (“M40”) Initiative on Mangrove Restoration highlights the role of blended finance in catalysing mangrove reforestation as an effective means of carbon capture.
These CTAs, and many others, are featured at the annual Philanthropy Asia Summit (PAS), and curated with key partners, with the aim to mobilise support to address societal challenges and achieve common good. They are anchored on the three focus areas of Nature & Climate, Inclusive & Holistic Education, and Global & Public Health. Find out more here.
3) INVITING LIKE-MINDED PARTNERS TO JOIN PAA ON ITS MISSION
PAA recently attended WEF’s annual meeting to connect with current and prospective partners to explore collaboration opportunities, and invite like-minded partners to join its mission to prime Asia as a force for good.
“Collaborative philanthropy is crucial across public, private, and philanthropic sectors to address systemic environmental and social challenges. We look to scale good, and know that no one can do it alone.” – Mr. Desmond Kuek, CEO, Temasek Trust.
ABOUT PAA
Philanthropy Asia Alliance (PAA) is a Temasek Trust initiative dedicated to catalysing collaborative philanthropy in Asia through dynamic multi-sector partnerships. By harnessing collective strengths, PAA multiplies impact, accelerates positive change, and takes urgent action to address the pressing environmental and social challenges of our time.
PAA’s flagship programme is the annual Philanthropy Asia Summit (PAS). PAS features Calls to Action to foster innovation, drive momentum, and scale impact for a better world. Learn more about PAS here.
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