Catalyzing Mental Health Investment Globally
Summary
In 2024, African Venture Philanthropy Alliance, Kokoro, McKinsey Health Institute, Wellcome Trust, and the Clinton Global Initiative committed to fulfill the objectives of the Coalition for Mental Health Investment (CMHI) by 2026. CMHI’s aim is to create an environment where it is financially viable and attractive for funders across the full range of public and private capital to invest in mental health at scale. CMHI connects leaders from across sectors with each other and with curated opportunities that accelerate CMHI’s vision, inspires investment globally by highlighting the business case and impact potential, de-risks mental health investment by championing innovative financing options and integrates mental health into existing funding. To achieve this, CMHI will convene its community to plan collaborative action, develop and disseminate publications, develop a pilot project that deploys a full range of capital behind a mental health initiative, and facilitate the inclusion of mental health in cross-sectoral events and collaboratives.
Approach
African Venture Philanthropy Alliance, Kokoro, McKinsey Health Institute, Wellcome Trust, and the Clinton Global Initiative commit to fulfilling the objectives of the Coalition for Mental Health Investment (CMHI) by 2026. CMHI is a new organization of global leaders created with the vision that within a generation, investment for mental health will match the global need, and with the aim of ensuring that it is financially viable and attractive for funders across the full range of public and private capital to invest in mental health at scale.
CMHI will increase investment through four main objectives. Firstly, they’ll connect leaders across sectors with each other and with curated opportunities that help to accelerate investment in mental health. Within the first year, CMHI will hold four convenings and, in partnership with a group of Global Advisors, develop a community of Champions that contribute to a Commitment to Action which motivates additional funders and stakeholders to invest in mental health.
Secondly, CMHI will inspire investment globally by highlighting the business case and impact potential of investing in mental health. The Coalition will develop two prominent publications highlighting the business case for mental health investment and two case studies demonstrating risk mitigation strategies in mental health investments and disseminate the publications through its subscriber base of 500+ individuals and organizations.
Third, CMHI will de-risk mental health investment by championing innovative financing options. CMHI will pilot a project that deploys a full range of capital behind a mental health initiative and demonstrates its feasibility to motivate more investors to commit capital to mental health initiatives.
Lastly, CMHI will integrate mental health into existing funding in health and other sectors by championing mental health expert involvement in cross-cutting events and facilitating the inclusion of mental health in major cross-sectoral conferences or events and in grant-making processes by major funding collaboratives.
Action Plan
Year 1
Q4 2024: Finalize CMHI communications plan, confirm global advisors, finalize CMHI strategy and Theory of Change with input from advisors, hold one CMHI roundtable or event, develop and disseminate one publication highlighting the business case for mental health investment. Progress on this foundational work will drive CMHI’s ability to deliver on the subsequent milestones and may need to be adjusted later.
Q1 2025: Hold one CMHI roundtable or event, develop and disseminate one case study demonstrating a successful risk mitigation strategy in mental health investment.
Q2 2025: Hold one CMHI roundtable or event, develop and disseminate a second publication highlighting the business case for mental health investment.
Q3 2025: Launch a CMHI Commitments to Action for scale of innovative financing for mental health. Hold one CMHI roundtable or event, develop and disseminate a second case study demonstrating a successful risk mitigation strategy in mental health investment.
Year 2
Q4 2025: Develop a pilot project that deploys a full range of capital behind a mental health initiative. Hold one CMHI roundtable or event. Facilitate the inclusion of mental health in one cross-sectoral conference or event.
Q1 2026: Begin implementation of the pilot project. Hold one CMHI roundtable or event.
Q2 2026: Continue implementation of the pilot project. Hold one CMHI roundtable or event. Facilitate the inclusion of mental health in one cross-sectoral conference or event.
Q3 2026: Evaluate the pilot. Hold one CMHI roundtable or event. Develop strategy for continued engagement and scale.
Background
Investment in mental health, particularly through innovative financing mechanisms, yields high returns by reducing healthcare costs, increasing economic productivity, and improving societal well-being and cohesion. For example, every dollar invested in treating depression and anxiety can yield a return of four dollars in better health and increased productivity. This includes improvements in workforce participation and productivity, which add significant value to the economy (WHO 2016) .
Despite the high ROI, investment in mental health remains low, creating a significant and growing financing gap between the level of need and the level of investment. The global mental health financing gap has been estimated at $200 Billion annually (United for Global Mental Health Report 2024) , and non-communicable diseases and mental health currently receive only around 1-2% of global financing investment for health, despite accounting for three quarters of all deaths globally (WHO 2022) . This underinvestment persists due to barriers such as stigma, limited awareness of the benefits of mental health investment, fragmented funding mechanisms, a lack of knowledge of how best to sustainably scale and regulate effective mental health interventions, and how best to leverage innovative funding approaches.
Low and middle-income countries (LMICs) carry a disproportionate burden of the global challenge, while receiving a lower amount of mental health investment compared to high-income countries (HICs) . 80% of people with mental illness globally live in LMICs, with the mental health financing gap considerably bigger than in HICs ($3,081 Million vs $219 Million) (UGMH 2024) .
To match this global need and achieve high return on investment, effective and scalable mental health strategies can be funded through innovative financing mechanisms such as public-private partnerships and blended finance models, which have successfully catalyzed investment in other sectors like renewable energy. Such interventions and investments must be designed to be inclusive, accessible, and founded on equity.
Progress Update
Partnership Opportunities
The Coalition for Mental Health Investment welcomes partnership from organizations with best practices, expertise, and the means and drive to implement tangible action in increasing investment in mental health. CMHI is especially eager to work with funders to support them in aligning their investment strategy with CMHI guidance., The Coalition for Mental Health Investment (CMHI) is comprised of a network of experts, investors, influencers, implementers, and advocates who are eager to collaborate to further increase innovative financing for mental health. CMHI offers know-how and learnings as it will highlight and amplify best practices in the field, media and communications support to partners, and expertise and guidance in ensuring action towards their shared goal of ensuring that within a generation, investment in mental health will match the scale of global need.