A coalition of twenty-nine philanthropies has pledged $4 billion over the next five years to combat climate change, the largest-ever philanthropic investment focused on climate change mitigation.
Announced during a Global Climate Action Summit in San Francisco on Friday, the commitment represents a broad global effort to accelerate proven climate strategies, spur clean-energy innovation, and support organizations around the world working to protect the planet. The investments will support a range of strategies, with an emphasis on addressing five key challenges highlighted by the conference — healthy energy systems, inclusive economic growth, sustainable communities, land and ocean stewardship, and transformative climate investments.
The $4 billion total includes a $600 million commitment announced last year by the William and Flora Hewlett Foundation, as well as commitments by the Barr Foundation, Bloomberg Philanthropies, the Rockefeller Brothers Fund, and the Pisces Foundation.
"Tackling global climate change requires partnership and collaboration — and philanthropy has an important role to play," said Patricia E. Harris, CEO of Bloomberg Philanthropies. "We're proud to support efforts that are making incredible local progress around the world, but there's so much more that needs to be done. This landmark pledge is a key step to making even greater impact, together."
"While today's announcement is the largest climate-related philanthropic commitment ever made," said the partners in a joint statement, "we know that it is only a down payment. Everyone has a role to play — and philanthropy must be prepared to invest many billions more. By working together, sharing knowledge, welcoming new partners, and harnessing the actions of governments, the private sector and everyday citizens, the philanthropic community can be a catalyst in the fight against our world's greatest threat."