Today's Edition
ABU DHABI (ALETIHAD)
The annual AVPN Global Conference, held from 23 to 25 April 2024 in Abu Dhabi under the patronage of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the International Humanitarian and Philanthropic Council, concluded today, following three days of dynamic discussions, meaningful connections and landmark announcements.
Commenting on the success and new heights reached over the three-day Conference, Naina Subberwal Batra, CEO of AVPN, said, "The scale and atmosphere at AVPN Global Conference 2024 testify to the amount of work required in Asia. The magnitude of these challenges may be daunting, but it is precisely through shared learning and strategic partnerships where new alliances, innovative solutions, and transformative forces can be formed. AVPN will continue nurturing our social investor network, both here in Abu Dhabi and throughout the rest of Asia, to foster more learning, collaboration, and investment to help realise a more sustainable, safe, and equitable future.”
Held in Abu Dhabi, a vibrant philanthropic ecosystem, the signature event gathered more than 1,500 attendees from across 44 markets in areas including finance, research, and development, as well as government delegates from the UAE and Indonesia. The Conference reinforced its role as Asia’s leading convener for the world’s social impact investors with a series of significant announcements and launches. On the first day alone, UAE organisations committed to a landmark US$125 million in funding for global health, poverty alleviation, and species conservation, in addition to the launch of a milestone pact between the UAE and Indonesia to reduce plastic pollution in rivers.
The 11th edition of the annual global event saw activities rallied under the theme “One Asia, One Future”. Abu Dhabi’s strategic location at the crossroads of Europe, Asia, and Africa, is a reminder of the interconnected world in which we live, and the urgent need to work in partnership to find solutions to pressing global issues.
AVPN as an ecosystem builder to forge new pathways for action
AVPN Global Conference 2024 upholds its role as the platform for launching game-changing initiatives, such as:
Day 1 highlights and initiatives:
· The UAE announced a US$50 million commitment to the second phase of the Lives and Livelihoods Fund 2.0 (LLF 2.0), a multi-donor development initiative that supports Islamic Development Bank (IsDB) member countries in building sustainable pathways out of poverty. The financing will be administered by the Abu Dhabi Fund for Development (ADFD) and is in addition to the US$50 million the UAE has contributed to the LLF since its launch in 2016.
· Reaching the Last Mile, a portfolio of global health programmes driven by the philanthropy of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, announced a US$15 million commitment to the Abu Dhabi-based Global Institute for Disease Elimination (GLIDE), its second since the institute’s launch in 2019. The grant confirms Reaching the Last Mile’s belief in GLIDE’s mission to realize a world free from preventable infectious diseases and affirms Abu Dhabi as a partner in global health progress, innovation, and collaboration.
· The Ministry of Climate Change and Environment of the UAE and the Ministry of Environment and Forestry of Indonesia today announced a landmark initiative through the signing of a memorandum of understanding. Clean Rivers, a global non-profit dedicated to tackling riverine plastic pollution, will be the implementation partner to tackle the urgent environmental challenge of plastic waste leaking into the oceans around Indonesia. The UAE and Indonesia will cooperate on a number of vital areas, including capacity building and increasing stakeholder awareness, and the design and delivery of economically sustainable circular waste systems.
· Her Excellency Razan Al Mubarak, Managing Director of the Mohamed bin Zayed Species Conservation Fund and UN Climate Change High-Level Champion for COP28, announced a contribution of US$40 million by His Highness Sheikh Mohamed bin Zayed Al Nayhan, President of the UAE, to the Mohamed bin Zayed Species Conservation Fund to help preserve biodiversity. The fund, established by His Highness in 2009, has supported conservation efforts in 170 countries. The latest contribution will increase the fund’s endowment to more than US$70 million by 2028.
· AVPN’s “How Values and Beliefs Shape Giving” report, which explored the potential of values-aligned giving is particularly ripe in Asia, where the ecosystem holds vast resources, networks and deep-rooted values that can advance social and environmental progress in the region. As Asia’s largest network of social investors, and a globally inclusive and neutral platform, this report aims to highlight the role of values-aligned giving in addressing Asia’s most pressing social issues, and unpack the best practices amongst faith-aligned philanthropists and investors in the region with a goal to drive collective action for impact in Asia.
Day 2 highlights and initiatives:
· The Zayed Charitable and Humanitarian Foundation signed a memorandum of understanding with the Government (Akimat) of Astana City in the Republic of Kazakhstan to establish a rehabilitation centre for children of determination with disabilities. The centre will be located in the Yesil area of Astana city and will provide rehabilitation services for children of determination with disabilities. The partnership represents Zayed Charitable and Humanitarian Foundation's commitment to comprehensive development efforts in Kazakhstan.
· The Khalifa Bin Zayed Al Nahyan Foundation announced plans to finance micro, small and medium enterprises (MSMEs), with the aim of developing projects that nurture entrepreneurship, building capacity and capability among young entrepreneurs in some of the least developed countries in the world. Recognising the significant opportunity for MSME’s to positively contribute to economic growth, this US$27 million initiative will provide funding through a variety of mechanisms to allow recipients to build and grow their businesses.
· AVPN’s ImpactCollab, Asia’s first outcomes-based social investing system supported by the Monetary Authority of Singapore, launched its first phase by unveiling the Social Outcomes Platform, Asia’s first impact data registry which will revolutionise how companies deploy capital based on verifiable data-driven, outcomes-based impact valuations for potentially up to 1,200 impact organisations across Asia and provide social investors with reliable, investor-grade impact data to make funding decisions.
· A Memorandum of Understanding (MoU) between AVPN and the Authority of Social Contributions – Ma’an to strengthen existing strategic partnerships and collaborations between the public and private sectors and civil society, to develop innovative solutions to social challenges, particularly in the Emirate of Abu Dhabi.
Day 3 highlights and initiatives:
· A Memorandum of Understanding (MoU) between AVPN and UNHCR, the UN Refugee Agency, to explore how innovative finance – financial arrangements that are not traditional donor-based humanitarian assistance - can be leveraged to promote resilience and improve livelihood prospects for the forcibility displaced communities across Asia.
As AVPN Global Conference 2024 drew to a close, the tremendous support and milestones achieved demonstrate the global social investing ecosystem’s recognition for urgent action and commitment to effectuate positive change on an unprecedented scale. With record-breaking amount of funds announced, the Conference has set a new benchmark for philanthropic giving and social investing, signalling the ecosystem’s resolve to drive tangible, sustainable impact for One Asia, One Future.
