The Rockefeller Foundation has announced a new Climate and Resilience initiative focused on market opportunities that increase capital flows into solutions and projects that improve the lives of the world's most vulnerable people.
As Rockefeller winds down its 100 Resilient Cities (100RC) initiative, which enabled eighty cities around the globe to hire chief resilience officers (CROs) and develop comprehensive climate resilience strategies, the initiative represents a new phase in the foundation's climate-related efforts. To be led by managing director Elizabeth Yee, who previously served as 100RC's vice president of resilience finance, the initiative will focus on identifying, designing, and supporting opportunities that increase climate and resilience capital flows in support of vulnerable populations and will integrate climate and resilience principles across the foundation's work in food, health, power, and economic opportunity in the U.S., in addition to coordinating grantmaking for disaster recovery situations.
An initial commitment of $8 million will support the work of CROs and member cities of the 100RC Network. In addition, the foundation will continue to collaborate with member cities, CROs, and a small group of former 100RC senior staff on resilience strategies and actions over the next five years.
In April, the foundation awarded $12 million to Rockefeller Philanthropy Advisors, 100RC's fiscal sponsor, to provide continued support to the 100RC network, as well as $30 million to the Adrienne Arsht Center for Resilience at the Atlantic Council to fund initiatives designed to help individuals, cities, and communities build resilience to climate-related shocks and stressors.
"Rapid changes in climate are exposing global citizens to unpredictable risks, and there is an increasing need to leverage data and technology to ensure we make informed decisions and design and deliver solutions that improve the resilience of communities," said Yee. "Continuing to support the 100RC Network is a core part of our ability to understand and tackle these immense challenges, which require creative, blended capital solutions to address [the problem] at scale. I am excited to lead the new Climate and Resilience initiative at the foundation and build on its legacy in resilience, to ensure that we develop and deliver solutions that positively transform the lives of vulnerable populations."
(Photo credit: Rockefeller Foundation)