Pioneering fund launches in Edinburgh
Hosted by Foundation Scotland, the £15 million Regenerative Futures Fund will help tackle root-causes of poverty, racism and climate change in Edinburgh.
Edinburgh, like many cities, faces serious and systemic issues of poverty and racism, and these are deeply connected with environmental challenges. Time after time local charities across the city have proven they are well-placed and able to provide the solutions needed to deliver real impact for their communities, but they are seriously constrained by the existing funding model of short-term cyclical or project funding, lack of trust and lack of understanding.
Launching this week, The Regenerative Futures Fund is a pioneering ten-year community fund for Edinburgh that puts decision-making power into the hands of those who are most often excluded. It supports approaches that improve the lives of local people living in poverty and experiencing racism, and that contribute towards a just, green transition, by enabling equity and power-sharing.
The fund is specifically designed to step into the space of long term, unrestricted funding, placing trust in communities that they themselves can allocate resources where they are most needed, and where they will make the biggest impact.
The fund also brings together long-term commitments from some of the biggest funders in the country, contributing to and collaborating on the pooled fund, including Esmée Fairbairn Foundation, The National Lottery Community Fund, The Robertson Trust, Turn2us Edinburgh Trust, Foundation Scotland and crucially City of Edinburgh Council, but completely removes them from the decision-making process. Instead, they are giving local individuals and organisations the agency and the resources they need to create a brighter future for all residents of Edinburgh.
With nearly £6 million pledged to date, the team is actively inviting others to join the impressive coalition of funders, corporate partners, and philanthropists committed to a just and sustainable Edinburgh to fully realise the ambitious 10-year programme.
Leah Black, Co-Head of the fund said:
Traditional funding programmes do little to address the root causes of poverty and inequality; short timescales, restricted single-issue support and overall, a real lack of trust in the organisations delivering on the ground. A radical shake up is needed and that is why we are coming together to launch The Regenerative Futures Fund. This fund is different. Collaboratively designed by local people in community organisations, campaigners, funders and the local authority, this £15 million, ten-year pooled fund presents a unique opportunity to support and learn with others to enable a long-term community-led approach to systemic change.
Edinburgh City Council Leader Jane Meagher said:
Here in Edinburgh we have an ambitious target to end poverty by 2030, and we remain committed to making our city fairer. We know that this isn’t an easy task but we need to be bold and drive the change that is so greatly needed. The Regenerative Futures Fund will empower local people and the third sector to directly fight poverty and inequality in our communities. We need a city-wide partnership fund to help us end poverty together. This innovative model is unique to Edinburgh. With backing already in place for £6 million, including £100,000 of Council funding, the team is well placed to start working alongside those with firsthand understandings of poverty. This will help make a lasting difference - ensuring their voices are at the heart of decision-making.
One of Scotland’s biggest funders, The Robertson Trust has contributed £1 million to the Regenerative Futures Fund, the largest award they’ve made in this strategic funding period, and their first ever ten-year award.
Jim McCormick, Chief Executive of The Robertson Trust said:
Our partners tell us consistently that lasting change cannot be achieved through short-term funding. That’s why we were drawn to The Regenerative Futures Fund’s long-term vision, its ambitious cross-sector collaboration, and its deep commitment to shifting power towards people and places with lived experience of these deep-seated challenges. Our £1 million award over ten years - the largest and longest commitment of strategy period to date - reflects our commitment to long-term change. We share the Fund’s bold vision and look forward to learning about power-sharing and ambitious collaboration to achieve transformative change in Edinburgh.
Foundation Scotland is both a funder and the host of the Fund overall. Helen Wray, Head of Philanthropy at Foundation Scotland said:
This is an ambitious fund that ultimately aims to empower people to play a central role in improving their lives and those of others – to have their voices listened to and be active in shaping their own futures. We talk about this kind of approach often, but rarely do we see it so powerfully laid out. The Regenerative Futures Fund has the potential to create a compelling model for others to follow. We will fully support them to make that ambition a reality.
Through the fund, grants of up to £100,000 per year will be offered to around 10-15 Edinburgh-based organisations, over 10 years.
The Regenerative Futures Fund is now offering initial eligibility enquiries and application details for both the lived experience panel and interested organisations. Read more here |
Those interested in contributing to the collaborative pooled fund and building a more just, equitable, and sustainable future for Edinburgh should get in touch with Leah Black: leah@foundationscotland.org.uk |
Funders:
- £100,000 approved and an in principle commitment of £100,000 a year for 10 years from City of Edinburgh Council
- £500,000 from Esmée Fairbairn Foundation
- £2 million from The National Lottery Community Fund
- £1 million from The Robertson Trust
- £1 million from Turn2us Edinburgh Trust
- £250,000 from Foundation Scotland, also fund hosts
- £15,000 from the William Grant Foundation towards Monitoring, Evaluation and Learning)
Read more about the Regenerative Futures Fund here