The India Climate Collaborative is engaging with individual philanthropists who are willing to commit large amounts dedicated to fighting climate change.
Philanthropic initiatives aimed at tackling the climate crisis are starting to take shape in India, according to a report in The Economic Times. The EdelGive Hurun India Philanthropy List 2022 revealed a 46% increase in donations to the environment and sustainability sector in the country, however this amounted to less than INR200 crore ($28m). Rainmatter Foundation, which was set up by Nithin Kamath, founder and CEO of Zerodha, has a corpus of INR1,000 crore ($140m), making it possibly the largest domestic philanthropic initiative focused on climate change.
Philanthropic giving for climate change in India is on the rise, with a 46% increase in donations to environment and sustainability in FY21 compared to the previous year. However, this still amounts to less than Rs 200 crore, a small fraction of the overall giving pie in the country. In an effort to increase funding and support for climate action, Sameer Shisodia at Rainmatter Foundation have been travelling across India, visiting 20 states and an average of three districts in each. This is part of their goal to fund and support action around Rs. 1,000 crore, potentially making it the biggest domestic philanthropic initiative focused on climate change yet.
The EdelGive Foundation is also preparing to announce a new fund, GROW (Grassroots, Resilience, Ownership and Wellness) for Climate, which aims to empower civil society organizations working in the climate space. The India Climate Collaborative is engaging with individual philanthropists who are willing to commit large amounts dedicated to fighting climate change. Nonprofit organization Dasra is working with 130 families as part of their Giving Pi initiative to raise awareness on climate change and bring together civil society organizations working on diverse issues.
The urgency around the climate crisis has sparked conversations among donors and the number of initiatives and funding towards climate action is increasing. Neera Nundy, co-founder of Dasra, notes that “more than ever, we have seen a sea change in philanthropy towards climate change in the last year and a half”. With India holding the G20 presidency, there is greater willingness and openness among philanthropists and families to address the issue of climate change. The next step will be to determine the impact of this on actual funding and climate action.
Key highlights:
- Sameer Shisodia and his team at Rainmatter Foundation have been visiting 20 states across India in an effort to fund and support action around Rs. 1,000 crore.
- The EdelGive Foundation is preparing to announce the new fund GROW (Grassroots, Resilience, Ownership and Wellness) for Climate to empower civil society organizations working in the space.
- The India Climate Collaborative is engaging with individual philanthropists to commit large amounts dedicated to fighting climate change.
- Dasra is working with 130 families as part of their Giving Pi initiative to create greater awareness on climate change and bring together civil society organizations working on diverse issues.
- There has been a significant increase in philanthropy towards climate change in the last year and a half, with more willingness and openness among philanthropists and families to address the issue.
Climate change is a defining issue of our time, but it does not receive adequate philanthropic funding. The impacts of global warming, including droughts, heatwaves, and rising sea levels, are affecting the entire world and should be at the top of our priority lists.
Conclusion
Climate change philanthropy in India is on the rise, according to the EdelGive Hurun India Philanthropy List 2022, which reported a 46% increase in donations to environment and sustainability compared with the previous fiscal year. However, such donations still only amount to less than INR 200 crore ($27m). In an effort to increase funding for climate action, the EdelGive Foundation is launching a new fund, called GROW (Grassroots, Resilience, Ownership and Wellness) for Climate, to support civil society organizations working in this area. The India Climate Collaborative is also engaging with individual philanthropists to commit large amounts of funding dedicated to fighting climate change.
(India CSR)
