The Regenerative Futures Fund is a new ten year community fund which is aimed at putting “decision making in the hands of those who are most often excluded”.
The pioneering initiative is intended to help tackle poverty, racism and the climate emergency in the capital while improving lives. The multi-million pound fund is designed to empower local communities to drive lasting change. This large pool of funding will offer long term and unrestricted monies to give organisations the freedom to plan long term. This money will put a stop to the “sticking plaster” solutions to societal issues.
The team behind the Fund say that the way financial assistance is currently set up does not allow organisations to address the deep root causes of poverty and inequality. The team has already secured a commitment of £5.8 million and is actively inviting others to join the coalition of funders “committed to a just and sustainable Edinburgh” in the new initiative which they say is a “radical shake up”.
The fund will pay grants of up to £100,000 per year to around 10-15 Edinburgh-based organisations over ten years.
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.”
The development (2022 – 2024) phase was funded by (in alphabetical order) Corra Foundation, The City of Edinburgh Council, Capital City Partnership, Esmée Fairbairn Foundation, Foundation Scotland, The National Lottery Community Fund, The Robertson Trust, Turn2us Edinburgh Trust, William Grant Foundation and Creative Informatics at The University of Edinburgh.
There will be two funding phases – one for grants of up to £10,000 for around 25 organisations, and long term funding for 10-15 organisations for grants of around £50,000 to £100,000 a year for 10 years paid out annually.
- 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.”
The National Lottery Community Fund Scotland Chair, Kate Still, said: “This fund, designed for and by local people, is unique response to a well-evidenced need for change within Edinburgh’s communities. National Lottery players can be very proud that they are helping to support this vital work which will make a real difference to so many.”
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