The Paul Ramsay Foundation (PRF) and Atlassian Foundation have announced a new partnership to increase investment in Australian organisations supporting communities affected by climate change.
Atlassian Foundation has committed US$1 million (approximately A$1.5 million), which will be matched by PRF through its $60 million Impact First Fund, creating an initial investment of around A$3 million.
The partnership will focus on First Nations and community organisations working at the intersection of climate and community, helping unlock capital for locally led solutions and climate resilience.
The foundations are also inviting other funders to join the partnership and help grow the pool of investment available to organisations responding to climate-related challenges.
PRF and Atlassian Foundation hope the initiative will demonstrate how impact investment can support organisations and opportunities that may be too early, complex, small or uncertain for conventional finance, while giving participating funders an opportunity to build their impact investing capability.
The partnership represents a first step towards bringing more funders together to support communities and organisations building a more climate-resilient Australia.