Of the major initiatives to tackle the climate and sustainability challenges in the Asia-Pacific region, the Asian Venture Philanthropy Network has awarded $5 million in grants through its APAC Sustainability Seed Fund (SSF) 2.0. Backed by Google.org and the Asian Development Bank, funding will flow to 18 nonprofit organizations as they develop and implement innovative, technology-driven solutions.
Scaling Climate Innovation
SSF 2.0 is set to amplify these successes through serious investment in key areas of renewable energy, decarbonization, climate adaptation, waste management, and protection of biodiversity. The grants will be awarded to organizations in the Asia-Pacific region, including Australia, India, Indonesia, and Japan, using advanced technologies in AI, IoT, and cloud computing in addressing pressing environmental concerns.
This is in line with AVPN’s strategic scale-up of its commitment to fostering climate innovation. The fund will be used to scale solutions that can respond effectively to the region’s pressing climate challenges through diverse, tech-driven approaches.
Strategic Partnerships and Support
To further scale these grants, AVPN simultaneously launched the APAC Sustainability Solutions Lab with an additional $2 million grant from Google.org. This Lab will serve as a critical resource hub for grantees selected from both SSF 1.0 and 2.0 with valuable technical capacity building, impactful case studies, and enabling stakeholder dialogue to ensure better project outcomes.
“At AVPN, we are cognizant that climate innovations require much beyond mere financial capital to be furthered. We will strive to unlock their potential in their ability to help the region adapt and mitigate against climate impacts by mobilizing human, intellectual resources, alongside funding,” said Naina Subberwal Batra, CEO, AVPN.
Climate Vulnerabilities Addressed
The Asia-Pacific region is facing extreme climate risks, hosting seven of the world’s ten countries that are most vulnerable to climate. This translates to an economic loss exceeding US$36 billion in 2022 within the region. The investment offered through SSF 2.0 is yet another investment that will help progress and evolve those solutions for a resilient future.
Andrew Ure, Managing Director at Google, brought out both the negative and positive side of the challenge and opportunity which climate change has brought about: “The Asia-Pacific is one of the most vulnerable areas to climate change, but it also presents us with an immense opportunity. By bringing together organizations, social investors, and researchers, we can tap into new technologies such as AI that develop innovative solutions for many of these critical issues.”
Leveraging Digital Solutions
Stephanie King-Chung Hung, Chief Information Officer at ADB, further reassured that digital technologies are truly vital in increasing climate resilience: “Advanced digital solutions are important in enhancing resilience and adaptive capacities. Our support for this fund demonstrates the key importance of targeted financing in advancing these innovations.”
Conclusion
The $5 million grant awarded by AVPN through the APAC Sustainability Seed Fund 2.0 forms an essential step toward addressing climate and sustainability challenges in the Asia-Pacific region. It will guarantee scaling impactful innovation through technology-driven solutions and forging strategic partnerships to create meaningful progress toward a sustainable and resilient future.
In the fight against climate change, the efforts put in by AVPN, Google.org, and ADB attract special attention to collaborative funding and technological progress toward a greener, adaptive global community.