Funding a Future that Works for People and the Planet.
Our global economic system is ready to be reinvented.
The Covid-19 crisis and deepening economic recession have further exposed the urgency of addressing inequality and the climate emergency. For far too many, the global economic system means a life of toil and abuse, relying on a fundamental imbalance of power. Our planet, too, has borne the consequences of a system marked by unrelenting growth and profit maximization. Women, informal and low wage workers, migrants and marginalized racial and ethnic groups will bear the largest burden of the economic fallout: they must be at the center of both the immediate response and longer term structural change.
To correct the structural, legal, and cultural misalignments between short-term profit on the one hand and people and the planet on the other – we need bold, innovative action. In recognition of this, Ford Foundation, Fundación Avina, Humanity United, Laudes Foundation, Omidyar Network, Open Society Foundations, SAGE Fund, True Costs Initiative, Wellspring Philanthropic Fund, and Wallace Global Fund have joined forces to launch the Response and Vision Fund.
The fund supports community-led and civil society organizations, workers’ rights groups and social movements that work with those most impacted by the economic fallout of Covid-19, while advancing systemic change to shift the economy in a more just and sustainable direction. The Fund supports promising strategies which achieve impact now, and which provide the opportunity to translate lessons to scale.
The Response and Vision Fund lays out the following three priorities in the short-term:
- Build power: Bolster and elevate power-building organizations led by and in service to those most impacted by the economic fallout of Covid-19, including migrant workers, women, indigenous communities, peasant farmers and the urban poor;
- Strengthen accountability: Hold financial and corporate actors – particularly those providing or receiving bailouts, stimulus and recovery funds – to account for impacts of their actions in the context of this crisis;
- Shape bailout and recovery packages: Shape transnational bailout, recovery and stimulus initiatives, to prioritize economic, climate and gender justice.
The Fund’s first rounds of funding in 2020 are now building into a second longer-term track that will advance innovative international strategies for a more just global economy.
With the Response and Vision Fund, we are collaborating as funders to help shift the status quo, break out of siloes to build collaborative action, and to support and learn from those at the forefront of change.
The Fund is an initiative of the Funders Organized for Rights in the Global Economy (FORGE) collaborative, a dynamic space for learning, aligning, and pooled funding strategies for a just economy. FORGE brings together funders working across multiple domains including corporate accountability, climate justice, women’s rights and workers’ rights.
For the launch of the Response and Vision Fund, FORGE donors are joined by Omidyar Network and welcome additional funders. At this moment in time, funding is by invitation-only.