Several billionaire philanthropists who signed Bill Gates and Warren Buffett’s “Giving Pledge” have agreed to combine some of their resources and to develop new ideas for giving their money to philanthropic causes. Recently, Bill Gates, Richard Chandler, Jeff Skoll, Romesh Wadhwani and others have joined to launch Co-Impact, an organization committed to improving global health, education and economic inequality.
In 2010, billionaires Bill Gates and Warren Buffett created the campaign “The Giving Pledge.” This campaign inspires wealthy people to donate part of their money to philanthropic causes. The pledge is not a contract but a moral agreement to give at least half of their net worth to charity, either during their lifetime or upon their death. The Giving Pledge initially had 40 donors but has increased to 158 in seven years. Over $365 billion dollars has been pledged from the most wealthy including donations by Mark Zuckerberg, David Rockefeller, and Sara Blakely.
Co-Impact was founded due to the evolving approach to philanthropy, which connects philanthropists, non-profit organizations, government, social leaders, and the private sector to make change collectively. The group plans to connect, support and leverage to provide world-wide change. The organization has set a goal to donate at least $500 million to provide economic opportunities, advance education, and improve health for all people.
“Time is not on our side on some of the world’s most pressing issues,” Jeff Skoll, Co-Partner of Co-Impact, said. “Investing more in social entrepreneurs’ proven work allows them to accelerate their pace and reach, and enhances the possibility of achieving transformational social change sooner.”
The core of Co-Impact is to bring public and private groups together to create a “systems change.” Unfortunately, there are not many mechanisms to match leaders aiming to solve social issues with the donors and philanthropists interested in providing the right size and kinds of capital. Co-Impact wants to connect social change leaders with the donors who both share a vision to make change.
“Partnerships between social change leaders, youth, women and communities are essential to achieving the Sustainable Development Goals,” Amina J. Mohammed, Deputy Secretary-General for the United Nations, said. “If we want to improve people’s health and well-being, provide education and economic opportunities for all, we must scale up solutions. Co-Impact can make a meaningful contribution to building more peaceful and prosperous societies and creating a brighter future for all.”
Co-Impact is committed to improving global health, education and economic inequality around the world by connecting wealthy philanthropists to social change leaders. The organization is breaking down barriers to large-scale change and improving the lives the millions.