Global Citizen calls on various sectors to make financial commitments and end extreme poverty
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Global Citizen, the international advocacy organization dedicated to ending extreme poverty, today announced the launch of the Global Citizen Impact Funds Powered by NPX, a series of transformational outcomes funds designed to accelerate progress toward achieving the UN Sustainable Development Goals (SDGs) by linking funding with verified results. Global Citizen is calling on the private sector, philanthropists and impact investors to make bold financial commitments toward ending extreme poverty.
An outcomes fund is a collaborative donor fund that releases donations after impact is achieved and independently verified, directly linking funding with results. The outcomes funds catalyze additional funding from impact investors, who provide the upfront capital necessary for our NGO and multilateral partners to implement programs and services.
The Global Citizen Impact Funds are composed of six Impact Funds focusing on education, equity, food security, health, sustainability, and water. Each fund will mobilize a minimum of $25M and up to $1B in results-based donations to each impact area.
The Impact Funds have identified inaugural NGO and multilateral partners: BRAC, charity: water, The Global Fund, International Rescue Committee, and One Acre Fund. These organizations were rigorously vetted and have turnkey, high-impact, measurable solutions where access to capital is the number one barrier to scale. The results-based funding model allows the organizations to scale solutions that work, changing their trajectory and the impact they can achieve.
“There is an urgent need for action. Our future cannot wait. People’s lives are at stake. The planet’s longevity is at stake. We need innovative approaches and bold participation from the private and philanthropic sector to accelerate results toward ending extreme global poverty, NOW, more than ever. So we partnered with NPX, a leader in innovative finance to design, manage, and implement a ground-breaking vehicle that can transform philanthropy and ensure we link funding with evidence-based, data-driven results.” Michael Sheldrick, Co-Founder and Chief Policy Officer, Global Citizen
“It doesn’t matter how much money flows, activities are completed or people are reached – if people aren’t getting the results they need. This is why innovative finance solutions that link funding with results are urgently needed. Together, we created the Global Citizen Impact Funds to give donors the opportunity to donate in a new way that simultaneously accelerates results for millions of people around the world and transforms global giving.” Lindsay Beck, Co-Founder and Co-CEO, NPX
“As someone who funds solutions to end global poverty, it can be challenging to know whether my funding is having an impact. The Global Citizen Impact Funds provide an answer,” said Chris Stadler, Managing Partner at CVC Capital and Co-Chair of the Global Citizen Board of Directors. “The Global Citizen Impact Funds increase accountability, change behavior, improve performance, and increase impact. They provide funders with assurance that their funding is linked to results.”
The COVID pandemic pushed nearly 100M additional people into extreme poverty, worsening outcomes along education, equity, food security, health, sustainability, and water, and making the need for climate action more acute. Although these issues appear insurmountable, solutions exist that can drive measurable impact for millions of people around the world today.
The Global Citizen Impact Funds are a deliberate action in support of the advocacy organization’s End Extreme Poverty NOW campaign objective to break systemic barriers that keep people in extreme poverty by:
- Advancing achievement towards the SDGs in the following impact areas: education, equity, food security, health, sustainability, and water.
- Furthering Global Citizen’s commitment to driving measurable impact.
- Serving as a new tool to engage partners to take action, including existing donor partners, new donor partners, and investors.
- Partnering with NPX to enable donations and investments from individuals, foundations, donor advised funds, corporations, and others, which leverages funding from both philanthropy and the $715B impact investing market to help bridge the $3.5T investment gap towards achieving the SDGs.
- Inviting the world’s wealthiest to support outcomes from vetted organizations that are capable of absorbing large amounts of capital ($25M to $1B+) and are ready to deliver their tested, measurable, evidence-based solutions.
Global Citizen has partnered with NPX, a leader in the innovative finance space, to design, manage and implement this ground-breaking offering. In addition to design, NPX’s role includes vetting the NGO and multilateral organizations selected for the funds, deal structuring and execution, fund operations, impact reporting, and communication. Global Citizen’s role includes mobilizing donors to take action, identifying NGO and multilateral organization partners, marketing and storytelling, and communicating impact.
Every year Global Citizen mobilizes commitments to partner NGOs and multilateral organizations. Global Citizen’s 2021 Recovery Plan for the World, featured two groundbreaking events; Global Citizen VAX LIVE: The Concert to Reunite the World, mobilizing $302M in funding and over 26M COVID-19 vaccine doses to provide equitable vaccine access to the world’s most marginalized communities and health care workers in critical need of global support; Global Citizen Live mobilized more than US$1.1B, 157M trees, and over 60M COVID-19 vaccines during the course of the campaign.
Lourdes Antenor is an experienced writer who specialises in the not-for-profit sector and its affiliations. She is the content producer for Third Sector News, an online knowledge-based platform for and about the Australian NFP sector.
