Foundations and Big Donors Gave at Least $5 Billion Worldwide to Curb Climate Change

Philanthropic giving to curb climate change last year totaled $5 billion to $9 billion worldwide, according to a new report from the ClimateWorks Foundation.

The report notes that funding to mitigate climate change has nearly doubled since 2015, but it’s still less than 2 percent of all giving by individuals and foundations worldwide.

The report pegged giving by foundations for climate-change mitigation in 2019 at $1.68 billion; the estimate for individuals was $3.4 billion to $7 billion.

“While philanthropic resources alone cannot match the trillions of dollars in investment needed to decarbonize the global economy, philanthropy has a unique and critical role to play in achieving this target,” the report states. “Philanthropy can increase global ambition, support innovative solutions, scale proven mitigation strategies, and drive collaborative actions.”

The report cites carbon-dioxide removal technologies as among the areas most in need of support from grant makers and donors.