AVPN, recognized as Asia’s leading social investment network, has introduced the ‘Climate x Health: Lighthouse for Asia’ initiative with support from the Bayer Foundation. The US$ 5 million fund was unveiled at the Singapore Pavilion during COP29 in Baku, Azerbaijan. Its goal is to empower non-profit organizations that utilize climate innovations to develop scalable strategies safeguarding the health of vulnerable communities impacted by climate change.
In its first phase, the fund will allocate up to US$ 200,000 to selected organizations aiming to mitigate the adverse effects of climate change on health, with a special emphasis on vulnerable local populations. Moreover, all applicants, regardless of funding outcome, will benefit from capacity-building services, including practical guidance and networking platforms within AVPN’s expansive ecosystem, composed of over 600 members, such as climate-health investors, innovators, and policy strategists.
Climate adaptation funding remains in its infancy in Asia; the Lighthouse Fund represents one of the pioneering initiatives targeting the intersection of climate and health in the region. To ensure optimal use of resources and achieve tangible impacts, the ‘Climate x Health: Lighthouse for Asia’ Fund will employ a data-oriented strategy to evaluate market demands and social challenges prior to disbursing funds to organizations with high-impact potential. Evaluations will include both quantitative and qualitative metrics, examining outputs, results, and feedback from grantees.
“The nexus of climate and health is a pressing challenge, disproportionately affecting the most vulnerable by exacerbating health crises. Gathering for COP29, the urgency of addressing climate impacts in Asia stands clearer than ever, with anticipated climate-related events causing two billion disability-adjusted life years by 2050, with Asia shoulder 30% of this burden. Change is essential. Innovative responses can effectively mitigate the climate crisis if proper investment is directed towards critical areas. Social investors play a pivotal role in championing change within underfunded areas such as climate and health through strategic funding and support, fostering impactful innovations. AVPN is dedicated to uniting the right organizations, investors, and decision-makers to unlock the potential of climate adaptation programs for societal benefit,” expressed Aravindan Srinivasan, AVPN’s executive director overseeing Climate Action.
“Our ambition is not only to nurture over 20 novel interventions through this initial round of the Lighthouse Fund but also to bolster the larger ecosystem and community propelling emerging climate-health solutions. We aspire for our philanthropic contributions to act as a catalyst, inspiring additional investments from both public and private sectors,” stated Peng Zhong, Bayer Foundation’s director of Social Innovation.