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Deforestation in south-east Asia could slash the region's GDP by 35%, according to a new report from Reuters.
And that's not all.
The report also finds that $100 billion pledged to fight climate change in 2015 has been used to open ice-cream parlors in Asia, build a coal plant in Bangladesh, and make a love story out of a rainforest in Argentina.
It's all thanks to what Reuters calls a "new generation of philanthropists" who are frustrated by a lack of progress on climate change.
"If we don't address climate change at a local level and make it beneficial for communities, we aren't going to solve the crisis," Tom Hall, Global Head of Social Impact and Philanthropy at UBS, tells Reuters.
That's why UBS launched the UBS Climate Collective in 2021 to bring together like-minded philanthropists to find sustainable solutions.
"Climate change can't be solved by individual organizations alone," Hannah Wood, Program Director for Climate & Environment at the UBS Optimus Foundation, tells Reuters.
" Collective Philanthropy provides the mechanisms to do this."
One example of collective philanthropy is the development of an app called KarbonMap, which allows anyone to collect data on the regeneration of mangrove forests and upload it to the
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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'Crucial for climate impact': Ag startups from APAC sought for new accelerator programme.Ten founders will be selected, with the programme culminating in a demo day on Thursday, November 6 in...more
ABC Impact's 2024 Impact Review highlights the firm's continued growth and strategic focus across sectors vital to Asia's sustainable development.The firm remains committed to deploying capital into...more
Impact in listed equities can deliver competitive returns, report says.Report by Schroders and the Said Business School.Findings challenge the assumption that purpose-driven investing requires...more
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