Measuring Climate Impact: AVPN's Tristan Ace Discusses Climate Financing, SDG Priorities
The United Nations (UN) Secretary General António Guterres has recently declared, "The era of global warming has ended, and the era of global boiling has arrived." Five intergovernmental panel on climate change (IPCC) reports since 1990 have consistently confirmed climate change. Despite these warnings, action lags, with emissions continuing to rise. Anthropogenic factors, driven by human activities are at the core of this crisis.
India faces challenges in meeting the UN's sustainable development goals (SDGs). It slipped nine spots in the global ranking to 121 in 2022, with states struggling in SDGs 4, 8, 9, 10, and 15, as reported by Down To Earth.
In an exclusive interview with BW Businessworld, Tristan Ace, Chief Product Officer, AVPN spoke on AVPN's role in climate financing, prioritising SDGs, impact measurement, diverse initiatives, and challenges in sustainable collaborations.
Tell us about your approach to solving climate financing.
Climate financing is a critical issue. AVPN, as a social investment network, focuses on mobilising capital for social impact, including addressing climate priorities. Climate change is a major concern within the Sustainable Development Goals (SDGs), and we are committed to leveraging our network of over 600 funders and 9,100 members to make a positive impact.
AVPN's members have diverse interests, but currently, we're concentrating on climate action, health resilience, gender equality, youth entrepreneurship, and livelihoods. We're also exploring the intersections between these issues and climate change, understanding that rising temperatures can affect various aspects of society.
Can you explain the importance of blended finance in climate mitigation?
Blended finance is crucial for bridging the gap between innovation and capital. It involves different actors, such as foundations, corporations, VCs, and development finance institutions, coming together to invest in innovative climate solutions. By coordinating these actors, we can unlock capital for early-stage innovations and drive transformative impact. Only 2 per cent of global capital is not seeking returns. AVPN aims to encourage more funding community members to deploy capital strategically, focusing on skills and innovation needed in a net-zero economy.
How does AVPN promote diversity, equity and inclusion (DEI) in its sustainability efforts?
We've raised USD 13 million in the last three years, focusing on various issues. A significant portion was allocated to STEM education and a fund with Google to explore technology's role in sustainability. DEI is central to our sustainability strategy. We've established networks and initiatives, like the Asia Gender Equality Agenda Network, to ensure equal representation of women. We've also addressed mental health, especially among vulnerable populations, as part of our inclusivity efforts. DEI is critical to making sustainability relevant in diverse contexts.
How do you measure the impacts of climate change?
Measuring climate change impacts can be complex due to their specificity for communities. Some indicators include the economic impacts of extreme weather events and the loss of productivity due to rising temperatures. We assess the data to inform investments in resilient infrastructure and more. Multiple indicators help us understand the broader picture.
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