The evolving role of philanthropy amid geopolitical shifts must transition beyond traditional charity models. By embracing innovative approaches and cross-sector partnerships, the philanthropic sector should amplify its impact and address critical gaps in governance and resource mobilisation. Collaborative platforms, such as the G20, provide opportunities to align philanthropic efforts with global financial systems, ensuring that sustainability and inclusivity remain at the forefront of international development.
Philanthropic networks must work to enhance transparency and accountability, leveraging participatory decision-making processes which include diverse stakeholders, especially from the Global Majority. This ensures that financial interventions address the unique challenges and priorities of the most vulnerable communities. Additionally, philanthropy must champion sector-wide initiatives to monitor and map climate finance flows, utilising technology to make financial data accessible and actionable.
To empower local communities effectively, philanthropic organisations are encouraged to adopt regenerative practices offering multi-year, unrestricted funding to support sustainable and culturally relevant solutions. Participatory grantmaking, Indigenous-led funds, and capacity building initiatives should be mainstreamed, to shift decision-making power to communities. Removing barriers to funding, such as complex application processes and stringent eligibility criteria, further levels the playing field for smaller, community-led organisations.
All this must be underpinned by sustained partnerships between philanthropic networks and global financial institutions to address systemic challenges in governance and resource mobilisation. By promoting transparency, harmonising impact measurement standards, and supporting initiatives that bridge the digital divide, philanthropy can strengthen financial systems and advance climate and sustainability goals. While philanthropy can’t avoid facing the uncertainty of our current age, as a catalyst for innovation and scaling impact, the sector has the opportunity to drive systemic change and shape our world for future generations.
In collaboration with the civil society organisation Germanwatch, Foundations Platform F20 leads an international Sustainable Finance Working Group (SFWG). The working group seeks to enable F20 partners to advance sustainable finance discussions and positively influence the G20’s sustainable finance agenda. In September 2024, a SFWG roundtable took place at New York Climate Week. The theme of the event was Unlocking Climate Finance: Reducing Barriers for More Equitable Climate Finance Access. At this event, the 2025 implementation plan for the SFWG was formulated. In October 2024, the HSC side event, How Philanthropy & Philanthropy Networks Can Act and Commit, was held in Hamburg, Germany. This event was a collaborative half-day event which encouraged participants to engage in dynamic, solutions-oriented dialogue about sustainable finance solutions through a philanthropic lens. The revelations at this event inspired the creation of this F20 white paper.
