Pro-Davos: New Initiative to Help Unlock $3 Trillion Needed a Year for Climate and Nature
Philanthropic heavyweights and other partners unveiled a new push to vastly scale up combined public, private and philanthropic climate finance.
"Giving to Amplify Earth Action" aims to "help unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050." The many backers of the initiative launched at the World Economic Forum in Davos include the Bezos Earth Fund, African Climate Foundation, IKEA Foundation, the Rockefeller Foundation and more.
The goals are ambitious and it has backing from a suite of deep pockets. But the standard caveats apply — targets and reality are only occasional synonyms.