Paul Ramsay Foundation (PRF) and Atlassian Foundation have announced a new partnership to support increased investment in charities that deliver positive social and environmental outcomes in Australia. The initiative will focus on organisations supporting communities facing challenges arising from climate change.
Atlassian Foundation has committed US$1 million (approximately AU$1.5 million) to be matched by PRF through an allocation from its $60m Impact First Fund.
The partnership is open to other interested funders as Atlassian and PRF hope to catalyse more impact investing in Australia to support these communities.
Atlassian Foundation’s Director, Operations, Farzad Yazdanparast is excited about the potential this has to grow the number and diversity of funders seeking to deploy capital to address climate-related challenges.
“This partnership is a first of its kind in Australia, and it gives the Atlassian Foundation a way to support genuinely catalytic investments in climate resilience here at home," he said. "It aligns closely with our collective action strategy – we know the challenges facing communities at the intersection of climate and community are too big for any one funder to take on alone. We’re really proud to be a founding partner, and see enormous potential for this to scale and bring other funders in alongside us. We're hopeful this is the start of something big.”
PRF’s Director, Investment and Impact Capital, Ben Smith said the partnership was a first step in opening the door to other funders who wish to play a practical role in unlocking catalytic capital for opportunities that are too early, complex, small or uncertain for conventional finance.
“Our aim is to support First Nations and community organisations operating at the intersection of climate and community and unlock more capital for their work.”
“In allocating funds from our Impact First Fund, this partnership means we can work alongside other funders within a dedicated investment portfolio that targets the intersection of community and climate impact. We hope that this provides a pathway for funders to explore the mechanisms of impact investing, enabling them to make informed choices about deploying impact investment and building their own impact investing capability,” he said.
The partnership is modelled on the UK’s Esmée Fairbairn Foundation Environmental Finance and Learning Fund.
PRF and Atlassian Foundation welcome contact from other funding parties who are interested in joining this impact investing partnership.
Contact Nico Snellen for more information.
