Challenge fund to support solutions that measure the value of nature
Howard Lake | 15 June 2022 | News
A global challenge fund will award up to AU$75,000 in funding for “innovative and scalable solutions to the climate crisis with a focus on measuring the value of nature”.
Global impact firm Palladium has launched the 2022 Palladium Challenge Fund: Measuring the Value of Nature.
For the past 20 years, Palladium has committed 1.5 per cent of its profit before tax to funding humanitarian relief efforts, supporting community projects, and running an annual Challenge, through which Palladium solicits and funds ideas to tackle major global issues.
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The Palladium Challenge Fund brings in ideas from its network in over 90 countries to source innovative responses to global challenges.
The Palladium Challenge Fund: ‘Measuring the Value of Nature’
Palladium is looking for proposals that answer the question “How do you ensure that nature-based solutions are benefitting people and the planet?”
Entries are encouraged from organisations and entrepreneurs whose solutions can address the management, monitoring and valuation of nature-based solutions.
The fund was set up in response to the fact that, due to systemic failings within our economic approach, destroying nature seems to be more economically valuable than protecting it. Of course, the opposite is true: the benefits of conserving nature-rich sites, forests and ecosystems far outweigh the potential profit of using these lands for resource extraction.
Which ideas is Palladium looking for?
Palladium’s Climate and Environmental Finance, and Nature-Based Solutions teams will be looking for ideas that:
- Pilot new technologies and / or innovative approaches to valuing nature
- Provide tools for measuring the effectiveness of nature-based solutions
- Create frameworks for businesses to measure their environmental footprint and match them to potential solutions
Sinéad Magill, Palladium Managing Partner, said:
“The future demands new thinking, new approaches, and new solutions. Around the world, our teams are implementing nature-based solutions and experimenting with different means of measurement, and the solutions that could emerge from the Challenge Fund have the opportunity to significantly impact the sector as a whole.”
The funds will be administered to grant winners by Kyeema Foundation, with whom Palladium has partnered since 2003. Winning projects will benefit both from Kyeema’s established track record as a trusted NGO and Palladium’s global footprint and resources.
Applications are open until 31 July 2022.
To find out more and to make an application visit the Let’s Make it Possible website or contact pa*******@ky**************.org.
You can read about the winners of last year’s challenge fund.
More challenge fund initiatives
- Environmental Earthshot Prize launches to find solutions to the planet’s greatest issues (6 January 2020)
- Finalists announced in Water Abundance X Prize competition (22 March 2018)
- Global competitions seeks ideas to transform fundraising (21 October 2020)
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.