Collaboration as the Key to BOLD Climate Philanthropy
ClimateWorks’ annual review of climate funding trends is a must-read for all philanthropists, of all scales and backgrounds, interested in the state of the field.
What does their fifth annual report of funding trends in climate mitigation philanthropy tell us?
In 2023, philanthropic funders gave $15.8 billion USD to climate mitigation efforts, an increase of 20% from 2022.
For the first time since 2020, growth in climate giving outpaced growth in overall philanthropic giving.
Despite this, climate funding remains less than 2% of philanthropic giving worldwide.
Stating “the need for bold climate action is greater than ever” they list 3 recommendations for all funders:
To drive impact at scale, we must collaborate. At BOLD Earth Collective, we love the examples and case studies of the Global Methane Hub, Drive Electric Campaign, and the International Land and Tenure Facility as examples of what results are possible when funders work together.
Invest in core and flexible funding. Without this, organizations closest to communities can’t sustain themselves over the long-term and funding decisions risk creating earmarking silos between mitigation and adaptation when increasingly funding needs to address both, especially in low-to-middle-income countries. The report cites the wise words of Nancy Lindborg, President and CEO of the Lucile and David Packard Foundation, “When philanthropy invests in the infrastructure of the field – convening grantees, providing general support and enabling collaborative efforts and productive networks – we help to create the space for the bold ideas we need so urgently to emerge and flourish.”
Climate is interconnected with all aspects of human and planetary well-being. Making climate a central pillar across all themes, embracing a holistic systems change perspective, and integrating mitigation with adaptation and resilience can create a more coherent approach and increase the effectiveness of solutions.
As climate philanthropy leader and co-found of the Ballmer Group, Connie Ballmer, states (quoted in the report), “It’s not a matter of ‘if’ or ‘why’ to enter climate – its ‘when’ and ‘how.’”
Reach out to us at BOLD Earth Collective, and we can help you get started! all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe, you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.