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Climate change isn't just a global problem, it's a local one that's affecting everything from air quality to rainfall in Australia.
So the country's Murray-Darling Basin Water Fund is turning to private investors to help it tackle the water crisis, the Guardian reports.
The fund, which aims to raise $1 billion over the next five years, has teamed up with The Nature Conservancy and the World Wildlife Fund to create a fund that will invest in projects that have a positive impact on the environment or wildlife, as well as in the economy.
"The Murray-Darling Basin Water Fund is about more than water," the fund's chief executive says.
"It's about making a difference in the lives of the people who live in the basin and the people who work in the basin."
The money will come from private investors, including family offices in Singapore and Hong Kong, which are more likely to have their own philanthropic or grant-giving arms, the Sydney Morning Herald reports.
But there's a problem: There are only a few impact fund managers in Asia, and many of them are foreign.
"There is a realization that public capital and philanthropic capital are not enough to reach the ambitious goals that TNC and the world has set on climate and
Selected Grant News Headlines
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New Age of Philanthropy: #GivingTuesday
A part of a series produced by The Huffington Post in celebration of #GivingTuesday, which will take place this year on December 3, Kathy Calvin and Henry Timms vouch that we are living in a new era of philanthropy.
