A new global philanthropic initiative dubbed Giving to Amplify Earth Action (GAEA), was launched at the World Economic Forum’s (WEF) Davos Summit 2023 to help mobilise the estimated $3tr a year needed to deliver net zero emissions, reverse nature loss, and restore biodiversity by 2050.
Key points
- GAEA aims to deliver a new wave of public, private and philanthropic partnerships (PPPPs) that could help unlock trillions of dollars of financing for new low carbon and biodiversity protection projects globally.
- Over the next 12 months, GAEA will now work with its founding members across three main objectives, which include working with leaders from the public, private, and philanthropic sectors to identify and target climate and nature solutions where they are best positioned to play a catalytic role; pilot and refine funding models that can support PPPP interventions; and scale up and replicate successful approaches in new sectors and regions.
