Zerodha launches non-profit Rainmatter Foundation to promote climate change solutions
Online brokerage platform Zerodha has announced that it is setting up a non-profit organisation – Rainmatter Foundation — that will work to support grassroots individuals and organisations, and companies working on solutions for climate change. There will be a special focus on areas such as afforestation, ecological restoration, and livelihoods.
In a blog on their website, Founder Nithin Kamat said, “Our business is successful beyond my wildest dreams, but there has always been this void, knowing what we are building is just helping the top 3 to 4 percent of the Indian population. Also, the realisation that our planet is maybe at the brink of collapse due to climate change, and that we should use our success and resources into doing something about it."
“We believe that with the combination of the right set of people, intent, constant experimentation, the willingness to open up all our learnings, co-operations with governments, and capital willing to take risks without expectations of return, we should be able to contribute in some way. To attempt this, we have set up the Rainmatter Foundation,” he added.
The Foundation will be headed by Sameer Sisodia, a serial entrepreneur, who has also founded The Farming Collective and Linger Leisure. Sameer left a career in the tech industry to experiment with sustainable farming, farm collectives, and his personal passion — rejuvenating soil and forests.
“Amongst our core beliefs is that moving to a green economy and creating green jobs is an essential part of the changes needed for a better ecology. We are committing a $100 million fund towards this over the coming few years. This will be disbursed as grants and funding for projects in the above directions that become replicable models,” says Nithin.
The Foundation’s immediate efforts towards restoration include a 70-acre private forest that is being restored using ecologically sound reforestation principles.
There is also a public forum to engage with the community.
Edited by Kanishk Singh