AVPN, the largest network of social investors in Asia, has launched the “Climate x Health: Lighthouse for Asia” Fund with support from the Bayer Foundation. Announced during the Singapore Pavilion session at COP29 in Baku, Azerbaijan, the USD 5-million fund aims to assist non-profit organisations utilising climate innovations to develop scalable solutions to protect vulnerable communities from the health impacts of climate change.
The fund will provide selected organisations with grants of up to USD 200,000 to address the effects of climate change on health in Asia. AVPN will pool philanthropic capital and channel it through grants and other financial instruments to support smart climate solutions. These solutions will target food security, infectious disease management, water and sanitation services, and climate-health intelligence systems. AVPN highlighted that food security measures help ensure access to nutritious food during disruptions caused by climate change, while climate-health intelligence, such as monitoring and early-warning systems, can reduce risks from extreme weather events.
Applicants, including those not selected for grants, will receive capacity-building support such as actionable guidance and networking opportunities through AVPN’s ecosystem. This ecosystem includes over 600 members, comprising climate-health investors, innovators, and policymakers.
Climate adaptation funding in Asia remains limited, with the Lighthouse Fund being one of the first initiatives focusing on climate-health issues. AVPN will use a data-driven management approach to assess market needs and social challenges before allocating funds to high-impact organisations. The fund will also conduct impact assessments using quantitative and qualitative data to evaluate its effectiveness.
Aravindan Srinivasan, Executive Director, Climate Action at AVPN, said, “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 per cent 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.”
Peng Zhong, Director, Social Innovation at Bayer Foundation, stated, “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 catalyse additional capital from other public and private sectors.”
Asia Pacific is warming faster than the global average, with several countries experiencing their hottest year in 2023. The region faces heightened risks from extreme weather events such as droughts and floods, which displace populations and threaten food and water security, livelihoods, and infrastructure.
The rise in vector-borne diseases like dengue and Zika further exacerbates health challenges in the region. Shifts in temperature expand the range and transmission seasons of these diseases, straining healthcare systems, particularly in areas with limited resources. Without effective action, Asia could experience a 25 per cent decline in gross domestic product over the next 25 years, compounding existing challenges.