Second Investment Dialogue for Australia’s Children held in Adelaide

Leaders from philanthropy, government and community met on Kaurna Country in Adelaide, South Australia on 15 November 2024 for the second roundtable of the Investment Dialogue for Australia’s Children (IDAC). 

The dialogue brings the Government and 24 philanthropic partners together to agree to work collaboratively to empower vulnerable communities, the families that live in them and their children by addressing entrenched, intergenerational disadvantage.

Participants heard the importance of seeing children and families as whole, rather than parts of different service systems, that to achieve change Governments need to listen better, think differently about what and how they fund, and how they can be accountable to children, families and communities. 

Participants reflected on the Investment Dialogue’s progress over the last year, including implementing the Working Together Agreement, establishing the Community and First Nations Leadership Councils and Place and Data Working Groups. 

Informed by this collaboration, participants agreed to a range of new initiatives and reaffirmed their strong commitment to engage in genuine dialogue and work together in partnership to achieve long-term, tangible change that ensures children, young people and families thrive.

The roundtable agreed to the scope and direction of the next phase of the 10-year Commonwealth-philanthropy IDAC partnership, with actions including: 

• Collaborating with local communities to align investments and better back-in community change in up to 50 communities by 2030;
• Expanding the partnership by inviting State and Territory government partners and new philanthropic members to work with IDAC;
• Agreeing to establish a dedicated early years Working Group to improve early childhood development in communities experiencing disadvantage, with a focus on wraparound services and First Nations led models: and
• Establishing the IDAC Social Impact Investment and Advisory Working Group under the Government’s $100 million Outcomes Fund.

IDAC was an outcome of the Government’s 2022 Jobs and Skills Summit, delivered under the $200 million Targeting Entrenched Disadvantage package to achieve better outcomes and wellbeing for Australian children and young people in collaboration with philanthropy.

Federal Minister for Social Services Amanda Rishworth said it is through true, meaningful collaboration of government, philanthropic organisations and Australian communities that positive, lasting change will be achieved.

“It is through the honest dialogue and informed discussions taking place through these roundtables that will allow us to introduce evidence-based policy and best practices to the benefit of all Australians,” Minister Rishworth said. 

“We need to continually ensure we put communities at the centre of all we do not just as a recipient of the decisions we make.” 

Treasurer Jim Chalmers agreed, saying the best way to achieve real, lasting results is by listening to communities and partnering with those who know them best. 

 “Government and philanthropy can make a profound difference in children’s lives – but only if they work together with the communities who know best what they need to thrive,” the Treasurer said. 

 “Too many kids in communities around Australia are trapped in the cycle of intergenerational disadvantage. Through the Investment Dialogue we’re aligning our efforts and investing in the future of our children, and of our nation.” 

More information on the Targeting Entrenched Disadvantage package is available on the Department of Social Services website.