Bridging the funding gap that is hindering SDGs

The pandemic has hit our economy hard, with money being diverted left and right to help in the fight against the coronavirus. Unfortunately, this has meant that many crucial sectors have found themselves short-changed and increasingly underfunded as the pandemic continues. One sector that has been affected is climate change.

Prior to the pandemic, the UN stated that a massive amount of money – $2.5 trillion every year until 2030, to be exact – was needed to achieve their Sustainable Development Goals (SDGs). Now, this number is likely to be even higher. The Centre for Strategic Philanthropy identified that philanthropy could play a vital role in bridging the funding gap that is hindering our progress in reaching achieving the SDGs. However, at FJ we don’t think it’s philanthropists alone who can help; we believe that anyone donating to charity can have a real impact on the climate change landscape.

The pandemic has demonstrated that no matter how wealthy a country is, it’s simply not possible to block itself off from a global crisis, whether it impacts our health, our economy, or our climate. We need to have a plan in place for how best to funnel our available capital, and bringing in public donations to help bridge the gap where governments fall short is a logical step. Convincing countries to allocate more money to fighting climate change is a tall order when budgets are already stretched thin due to the pandemic, and this is why we need to consider looking out-with governmental bodies to bolster the financial support. According to the Charities Aid Foundation, in recent years over 60% of the UK population has given to charity, with a staggering £10.1 billion donated in a year – imagine the positive impact even a chunk of this money could have on climate change.

There needs to be a collaborative working model between all funding sources, for optimal results and impact. Governments need to work together with charities and willing philanthropists to boost the economy in the places that need it most. When it comes to combatting world crises, there’s no place for ego; working together is the most efficient model that will result in the best outcomes. Ultimately, the end goal is the same, whether you’re a government body deciding on budgets, a charity fighting for change, or a philanthropist donating money, so why cause unnecessary delays and tension points for the process by neglecting to work together?

As the light at the end of the pandemic tunnel begins to get brighter for us in the UK, our minds should begin to shift back to the pressing issues our planet is facing, and at the top of that list is climate change. It’s not enough to leave things to our government, which is already overworked and stretched thin – we need to do our part too. Charitable giving is an incredibly powerful tool in our arsenal, and one that we should strongly consider deploying, to help to create a safer, more sustainable home for each and every one of us, now and in the future.