Leading Philanthropists And Social Impact Investors Gather In Abu Dhabi To Discuss Climate Crisis

In collaboration with the Strategic Philanthropy Initiative (SPI) at NYU Abu Dhabi, the Pearl Initiative, a non-profit organisation dedicated to promoting corporate accountability and transparency in the Gulf region, and the Circle, a peer-to-peer network for institutional and individual donors, convened experts for a forum titled ‘The Role of Strategic Philanthropy in Climate Change Solutions.’ Held in Abu Dhabi, the forum illuminated the critical intersection of philanthropy and climate action by facilitating robust dialogue on the indispensable role philanthropy plays in the global fight against climate change, offering actionable insights into strategically financing climate change mitigation efforts, in alignment with COP28. The event brought together the region’s most prominent philanthropists, climate action investors, and industry experts from diverse sectors, uniting their expertise to drive meaningful change.

The event featured a high-profile panel discussion with accomplished philanthropists and industry experts actively engaged in climate-related initiatives. The panel featured Laila Abdullatif, Director General of Emirates Nature – WWF, as well as Ayla Bajwa, Senior Vice President of Group Sustainability at DP World, and was moderated by AntoniosVouloudis, Director of Sustainability and Stewardship at NYU Abu Dhabi. The discussion centred on the role of philanthropy in expediting climate action by enhancing the scale and accessibility of climate finance. The panel delved into best practices in strategic philanthropy, investment in climate solutions for frontline and vulnerable communities, the mobilisation of private capital for inclusive climate action, and the current and future trends in climate philanthropy, particularly in relation to technology and innovation.

Following the session, the gathering split into various specialised, expert-facilitated workshops addressing technical and industry-specific topics. Led by AVPN and Dalberg, the first workshop focused on ‘Barriers and Opportunities for Climate Philanthropy’, reflecting on lessons from Asia.  The second workshop, ‘Innovative Finance in Philanthropy: Scaling Nature-Based Solutions’ was led by Global Ventures, and the final workshop, ‘Integrating Inclusion in Climate Philanthropy’ was facilitated by NYU Abu Dhabi expert faculty.

Laila Abdullatif, Director General of Emirates Nature – WWF commented: “As we approach the crucial COP28 summit, it is evident that addressing the global climate crisis is a collective responsibility. Achieving impactful action demands the commitment of individuals, organisations, and the private sector worldwide. Philanthropy, with its potential to drive transformative change, can play a vital role in our shared efforts to combat climate change and create a sustainable future for all.”

Discussions also highlighted the growing awareness of the direct and detrimental impacts of climate change on both the environment and vulnerable communities. According to ClimateWorks (2022), contributions toward climate-related causes reached an estimated $7-12 billion in 2021, and in recent years, there has been a significant surge in philanthropic engagement and investments, specifically targeted at climate change mitigation strategies and initiatives.

Anissa Punjani, Programme Manager of the Governance in Philanthropy Programme at the Pearl Initiative said: “We are delighted to join forces with NYU Abu Dhabi’s Strategic Philanthropy Initiative for the Climate Philanthropy Forum. This collaborative endeavour offers a crucial platform for bringing together top industry experts and philanthropic leaders, to harness the immense potential of strategic philanthropy for climate action. As the UAE prepares to host COP28, the forum will underscore the immense potential of philanthropy in addressing the climate crisis.”

AntoniosVouloudis said: “This Climate Philanthropy Forum recognises the need to convene stakeholders from both the private and public sectors, across industries, to create space for generative, proactive, and informed conversations about climate philanthropy. The panel discussion and workshop sessions allow for an exchange of ideas and the formation of valued partnerships. The continued collaborative partnership between NYU Abu Dhabi, the SPI, and the Pearl Initiative reflects our shared commitment to the advancement of strategic philanthropy and its multiple intersections, including climate action. As a proud academic partner to the COP28 presidency contributing to the UAE’s hosting of COP28, NYUAD is committed to providing resources to establish a culture of climate awareness and stewardship that will help drive sustainable growth in Abu Dhabi, the UAE, and the MENA region.

Bringing together influential stakeholders to explore ways to harness philanthropy’s potential for expediting climate action, the forum provided a platform for knowledge sharing, exchanging best practices, fostering relationships, developing forthcoming initiatives, and increased investments in climate solutions. These endeavours align closely with the overarching objective of COP28, which is to leverage finance, technology, and innovation to safeguard vulnerable communities and ensure inclusivity.