DUBAI, UAE – Ideas Abu Dhabi (IAD), a prominent UAE thought-leadership platform, held its fifth edition during the United Nations Climate Change Conference (COP28). The forum brought together a group of influential philanthropists, including Ray Dalio, Bill Gates, Abdul Aziz Al Ghurair, and Precious Moloi-Motsepe, to explore the role of philanthropy in addressing climate change.
In a panel discussion titled ‘Unleashing the Catalytic Effect of Climate and Nature Philanthropy,’ the speakers delved into the potential of private finance to amplify public and corporate investments in climate action. With Bill Gates as the moderator, the panel addressed the critical need to scale up strategic philanthropic capital flows to confront the affordability challenge of climate change, which requires trillions of dollars globally.
Bill Gates, co-chair of the Bill Melinda Gates Foundation, emphasized the unique role of philanthropy in driving innovation, developing policy, and funding open-source science to combat the climate crisis. He highlighted the catalytic power of philanthropy, stating, “Philanthropy can take risks and take on projects that the government or the private sector can’t afford to take on.”
Ray Dalio, founder and CIO mentor at Bridgewater Associates, underscored the critical role of ocean conservation in climate action. He passionately advocated for greater protection of marine ecosystems, emphasizing the ocean’s vastness and unexplored potential. Dalio urged philanthropists to collaborate with countries to better understand the environmental impacts of blue economy activities, such as underwater mining, on fragile marine ecosystems.
Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation, highlighted the importance of incorporating the African perspective into global climate research initiatives. Drawing from her experience as a doctor, she emphasized the need to understand the local context to effectively address climate change impacts.
Abdul Aziz Al Ghurair, Chairman of the Al Ghurair Foundation for Education and Chairman of the Board of Directors of Mashreq Bank, shared his transition from providing individual scholarships to catalyzing systemic change in the education system. He explained how collaboration with universities and the Ministry of Education has enabled him to scale the impact of his philanthropic efforts and prepare the next generation to tackle climate action.
Rima Al Mokarrab, Co-Chair of Ideas Abu Dhabi and Chair of Tamkeen, underscored the urgency of addressing climate change. She stated, “Ideas Abu Dhabi is committed to bringing together diverse global perspectives to drive progress on our most pressing shared challenges. This forum has united leaders from across the world to share insights, exchange ideas, and collaborate for the greater good.”