Baku (Azerbaijan), Nov 21, 2024: AVPN, the largest network of social investors in Asia, has launched a USD 5 million fund that aims to empower non-profit organisations leveraging climate innovations to create scalable solutions that protect the health of vulnerable communities from the impacts of climate change.
The “Climate x Health: Lighthouse for Asia” Fund, supported by the Bayer Foundation, was launched at the Singapore Pavilion session at COP29 in Baku, Azerbaijan.
The inaugural Fund will provide selected organisations with up to USD 200,000 to address the severe impacts of climate change on health, especially on vulnerable communities in the region. AVPN will pool philanthropic capital and deploy it through grants and non-grant instruments suited to develop, scale, and co-invest in smart climate solutions, in areas such as food security solutions, infectious disease management, water and sanitation services, and climate-health intelligence systems. These focus areas were chosen for their immense impact on vulnerable communities and the potential for tech solutions to mitigate them. For example, AVPN believes that food security solutions ensure access to nutritious food during climate disruptions, while climate-health intelligence, such as monitoring and early-warning systems, helps anticipate and reduce health risks from extreme weather events that disproportionately affect vulnerable communities. All applicants, including non-grantees, will also receive capacity-building support, such as actionable guidance and networking opportunities within AVPN’s ecosystem of over 600 members which includes climate-health investors, innovators, and policymakers.
Climate adaptation funding is still nascent in Asia, with the Lighthouse Fund being one of the first climate-health focused funds in the region. To ensure funds are used effectively and deliver measurable impacts on climate and health, the “Climate x Health: Lighthouse for Asia” Fund will adopt a data-driven management approach to analyse market needs and social issues, before allocating resources to high-impact organisations. AVPN will also work to conduct impact assessments that incorporate both quantitative and qualitative data, measuring outputs, outcomes, and grantee feedback.
“The climate crisis is a health crisis, disproportionately affecting the most vulnerable. As we convene at COP29, the urgency of the climate crisis in Asia has never been more pressing, with climate events projected to cause two billion disability-adjusted life years by 2050 and Asia bearing 30% of this burden. Something has to change. Innovative solutions are a powerful tool for slowing or even preventing the climate crisis, provided there is adequate investment in the right areas. Social investors are indispensable for driving change in under-invested impact areas like climate and health by providing funding and support for innovative, impactful solutions. AVPN is committed to bringing together the right organisations, investors, and policymakers to harvest the potential of climate adaptation solutions for social good,” said Aravindan Srinivasan, Executive Director, Climate Action at AVPN.
"Not only do we aim to foster more than 20 innovations through the first round of the Lighthouse Fund, but also to strengthen the overall ecosystem and community who drive emerging solutions for climate adaptation to health. We hope our philanthropic grants can catalyze additional capital from other public and private sectors," said Peng Zhong, Director, Social Innovation at Bayer Foundation.
The Asia Pacific region is warming faster than the global average, with many countries recording their hottest year in 2023, putting its people at risk of heat stress and impacting their ability to work. Climate change is intensifying the frequency and severity of extreme conditions, from droughts to floods. These weather events not only displace vulnerable populations but also threaten future food and water security and endanger livelihoods and infrastructure across the region. As the world’s most disaster-hit area, Asia faces significant risks.
Additionally, climate change is driving new health challenges, including a rise in vector-borne diseases like dengue and Zika in Asia. These temperature shifts expand the geographic range and lengthen transmission seasons of these diseases, increasing health risks year-round and placing additional strain on healthcare systems, especially in vulnerable communities with limited healthcare resources and delayed access to treatment. Without successful action on climate change, the region’s gross domestic product could decline by over 25% in the next 25 years, further compounding the challenges faced by its population.
