Friends Provident Foundation: Building a 4D Economy Grants Programme

Overview

Funding Priorities

Their programme has three main focus areas, these are: Movement Building, supporting a fair transition to a 4d economy, and transforming financial systems.

• Movement Building: supporting and building a strong and diverse movement for new economic thinking

The UK has a creative, imaginative and growing movement of organisations who are working to develop new economic ideas and models and to push for the changes we need to create a better economic system.

They want to work with organisations who are challenging the neo-liberal story of how an economy can and should work. Those who are working to envision and create a new economic system, that works to support our goals of a fair and sustainable economy.

But they are also aware that this movement as currently defined doesn’t sufficiently recognise the wealth of work, knowledge and experience on different ways of organising economically from communities who are marginalised in our economy (and society). So they are particularly keen to support new economic thinking and action led by marginalised groups to work towards a new economy movement where a diverse range of voices and perspectives are recognised and centred.

What this might look like

• Core funding (grants) for organisations whose mission is to push for or create significant changes in the way in which the UK economy functions
• Project funding (grants) for organisations who support the infrastructure of the new economy movement – e.g. providing training, support or enabling collaboration
• Social investments in organisations and projects that are part of the movement for a new economy, e.g. via pioneering new business models and economic participation
• Collaborative work with other foundations to increase and promote thinking about and funding for new economic models and to challenge the ways in which Foundations’ philanthropy works
• Working with their grantholders and investees to create a commitment to inclusion, peer support and movement building that challenge and disrupt the way in which the UK economy works
• Using their power to convene and communicate what we are passionate about, our projects, and amplify and share learning from our grantholders and investees work.

• Supporting a fair transition to a 4d economy

This would involve projects and programmes that support a fair transition to a future economy. By this they mean that the necessary changes to the economy do not happen at the expense of, and if possible actively benefit, marginalised geographies, groups or communities.

The shift to a 4D economy will require a range of transitions -including as a result of the drive to decarbonise, demographic change or technological shifts. This strand of their work will support work that seeks to adapt to these shifts mindfully, in a way that supports the fair creation of a 4D economy.

What this might look like

• They will prioritise projects from organisations or coalitions of groups that have not previously engaged in economic debate or policy development
• Using influence as a shareholder to engage with investee companies in our mainstream portfolio for a fair transition
• Communications – Inform, campaign and advocate for the transition to the 4d economy, through learning from our grantholders and investees.

• Transforming Financial Systems

Activity to change the way their financial systems operate and the changes that are required to achieve a 4D economy. Work in this area would be centred on:

• Addressing issues relating to the functioning of capital markets
• Changing corporate behaviour
• Advocating for supportive policy and regulation.

What this might look like:

• Using influence as an asset owner to engage asset managers and capital markets in support of systemic and behaviour change
• Using influence as a shareholder to engage companies operating in the financial system for corporate behaviour change
• Commissioned research grants to support our investment work in this area
• Using their voice and amplifying the voice of others to change the way our financial system operates.

Are they the right funder for you?

Their focus is very specific, so please read through the information on these pages carefully before making an application.

They are a small funder and can’t fund most of the applications that they receive. Last year only 14% of stage one applications were invited to stage two. At stage two just under 45% were funded.

To increase your chances of success before you start to complete your application they suggest you:

1. Read their strategy pages and their Building a 4D economy grants programme document 2022-2025 to get a clear sense of what they want to achieve through their grants programme.

2. Have a look at their pages on what they fund, what they don’t fund and their FAQs

3. Try their quiz – to see if your organisation and idea sounds like something that they might be able to fund.

4. Speak to them – if you have any questions you can email them or book a meeting with a member of the team.

What they fund

Their vision is of a fair economy is characterised by 4D’s:

• Diversified
• Decarbonised
• Democratised
• Decentralised

The 4D’s represent what they believe to be the key characteristics of a fair and sustainable economy and their strategy is focused on financing activities and creating an environment that grows institutions and practices with these attributes.

See webpage for further information.

They are looking for applications that:

• Develop ideas and action that will help us transition to a 4D economy
• Think about how to make this change in a fair way – that considers the needs of those most likely to be affected by changes to the economy
• Get to the root causes of problems in the economy
• Understands the system that you’re trying to change and your place in it.

When looking at applications they are thinking about:

• How well they fit with their programme
• How clear and convincing a story they tell about their vision for a new economy and how their work would help to build it
• How big a difference their work could make and how likely it is that change will happen as a result of it
• Whether others could replicate or learn from this work
• How well they have explained how their work fits into the system they’re trying to change
• How they work in collaboration with others
• How far they consider and involve communities most impacted by this change.

You can find out more about these streams in their programme document Building a 4D economy grants programme document 2022-2025

Types of grants offered

They offer three main types of grants. Please note that your organisation can only hold one grant at a time.

1. Project funding -for work specifically focused on a particular project or activity, they offer project funding. This can include overhead costs (such as desk space, rent, utilities), related to the proposed work. Any organisation can apply for project support.

2. Core funding – please note this is only available to organisations they have funded previously or which have a pre-existing relationship with the Foundation. Core funding is provided in support of an organisation’s vision and strategy and how it helps them meet their goals. This is usually unrestricted funding that can be used in pursuit of the organisation’s general mission.

3. Small grants programme – specific support for under-resourced or newer entrants to economic systems change work to develop their ideas for a 4D economy with grants of up to £10,000.

Who Can Apply

Applications will be accepted from charities, social enterprises, and private companies.

What they are looking for

They are looking for applications that:

• Develop ideas and action that will help us transition to a 4D economy.
• Think about how to make this change in a fair way – that considers the needs of those most likely to be affected by changes to the economy
• Get to the root causes of problems in the economy
• Understands the system that you’re trying to change and your place in it

When looking at applications they are thinking about:

• How well they fit with their programme
• How clear and convincing a story they tell about their vision for a new economy and how their work would help to build it
• How big a difference their work could make and how likely it is that change will happen as a result of it
• Whether others could replicate or learn from this work
• How well they have explained how their work fits into the system they’re trying to change
• How they work in collaboration with others
• How far they consider and involve communities most impacted by this change.

Small Grants Programme

Their small grants programme involves a quicker assessment and decision making process. It aims to support under-resourced or newer entrants to economic systems change work to develop their ideas for a 4D economy with grants of up to £10,000.

They are interested in:

• General support for new or emerging organisations or collaboratives with a focus on creating aspects of a 4D economy
• Specific project funding to test new ideas or develop new approaches which could contribute to the development of features of a 4D economy
• Centering and bringing forward voices currently marginalised within the economy and economic change.

This is a rolling programme - – you can apply at any time and they will make a decision within 6 -8 weeks of your application.