It’s not possible for any one organisation or government to create positive, intergenerational change on their own. For PRF, working alongside peers, partners, and together with government on initiatives such at the Investment Dialogue for Australia’s Children, is necessary to ensure a future where people and places have what they need to thrive.
The Investment Dialogue for Australia’s Children is a 10-year collaboration between government and philanthropy to improve the wellbeing of children, young people, and their families, by working with communities to make long-term, intergenerational change.
The first Investment Dialogue roundtable in December 2023 signalled a new way of working, and saw the Australian Government meet with 20 Australian philanthropies, including PRF, to sign the Working Together Agreement. It supports a more aligned and targeted approach by coordinating investments from philanthropy and government, while working with communities and existing organisations on a range of projects and systems reforms that place children and young people at the centre.
The Investment Dialogue is a unique opportunity to make a real difference with innovation across sectors, and in partnership with communities. At the time of the roundtable Treasurer the Hon. Dr Jim Chalmers MP said, “Aligning government efforts with the substantial investments of the philanthropic community is crucial if we’re going to make progress on addressing disadvantage.”
Since the initial meeting, First Nations and Community Leadership Councils have been established as guiding and advisory bodies. The Leadership Councils help to amplify the voices and perspectives of First Nations peoples and community members, creating a platform for meaningful contributions that ensure the Investment Dialogue considers the nuanced needs of communities.
In November this year, the Dialogue met for the second time, and together committed to a range of outcomes, including collaborating with up to 50 communities by 2030, to better support community-led change that achieves tangible outcomes for children, young people and their families. The Dialogue will coordinate philanthropic and government engagement with the communities, involve local leaders in decision-making and allocate funding according to community aspirations, helping to reduce the burden of seeking support and investment.
This collaboration will include partnering with three place-based community partners to co-design innovation zones. These zones will provide an opportunity for established place-based approaches to design the enabling reforms needed to break through major barriers for achieving intergenerational change.
Philanthropy also announced more than $47 million in co-investments in organisations working within the Dialogue’s priority outcome areas, such as the Cornelia Program, that provides pregnant women who are experiencing homelessness or insecure housing with a pathway to safe housing, social and community supports, and individualised health care.
“We are only at the start of what’s possible with the Investment Dialogue,” said Head of Children Hannah Barber. “PRF has so far committed more than $38 million to Investment Dialogue initiatives that will support children, families and communities have what they need to thrive. The return on that investment can only be greater if we listen to the needs of communities, from the voices in communities, and work in partnership with others to respond.”
This was originally published as a case study in PRF's 2024 Annual Review.
