Charity Global Citizen, which seeks to end poverty worldwide, has tabled plans for six sustainability funds of up to bn 1bn.
The non-profit aims to answer the age-old funding question surrounding tackling climate change and biodiversity concerns, as lower-income countries struggle to meet the United Nations 2030 Sustainable Development Goals.
The charity, which partners with Citi, Google, Cisco and Accenture, said the funds will push out capital returns of around five to six per cent, Reuters first reported.
The funds, created with NPX Advisers, pulls in investors alongside philanthropists, with the aim of raising at least $ 25m (£ 19.2m) for each fund over the next six to nine months.
“We really think it has the potential to be a groundbreaking outcomes-fund vehicle that could transform philanthropy,” said Mick Sheldrick, Global Citizen’s chief policy officer.
“Our hope would be that it could, over time, lead to an upsurge in the amount of philanthropic capital that is available for SDG-related programs.”
One of the NGOs selected is One Acre Fund, which helps small-scale farmers in Africa to combat climate change though planting and protecting trees.
It hopes to support the survival and plantation of 44m trees over four years, which will absorb some 7.4m tonnes of carbon.