The India Climate Collaborative, founded by notable Indian philanthropists to direct funding and visibility towards climate action, has mobilised ₹45 crores ($5.9 million USD) for climate and increased its domestic philanthropy base six-fold during the last two years, its first annual report revealed.
The report also underlines key trends in India’s climate philanthropy ecosystem, like a growing segment of new-age Indian entrepreneurs-turned-philanthropists offering impact-linked capital for climate solutions.
Recognising the need for collaboration to enable effective change, one of the ICC founder Rohini Nilekani said, ‘This past year has shown us the speed and scale of the many planetary challenges we face. But what has always given me hope is our ability to find ways to respond to our most urgent challenges creatively. In its second year, the India Climate Collaborative is helping us all, as samaaj, bazaar, and sarkaar, leverage the power of good collaboration. Where we can lead with trust and let go of control to truly co-create a path together.’
An important part of the ICC’s work has been a collaborative effort with various stakeholders, which has enabled the organisation to mobilise funding from 30+ domestic and international philanthropic partners, by presenting donors with 25 fundable opportunities across climate subsectors like water, energy, air quality and more. In addition to directly funding 14 projects and research studies, ICC has facilitated nearly ₹15 crore ($1.9 million USD) in grants to network partners.
Speaking about the growth of climate philanthropy in India, ICC Acting CEO Shloka Nath said: ‘These past two years have been a learning towards both the increasingly urgent need for action and the capacity for real, effective solutions. We have seen the incredible work of our partners evolve, from inception to implementation – and understood how critical they will be, as the world continues to change around us. Climate solutions help us reduce emissions, build resilience, support healthy communities, and protect our natural heritage; it’s wonderful to see that Indian philanthropy is beginning to step up towards making these solutions a reality, but we still have a long way to go.’
Read the full report on indiaclimatecollaborative.org.