ClimateWorks research shows that funding for climate action has surged over the past year, exceeding total philanthropic giving but still falling well short of needs
SAN FRANCISCO, October 31, 2022 /PRNewswire/ — Philanthropy sharply increased giving to mitigate climate change by 25% in 2021, according to a new report, beating an 8% increase in total philanthropic giving for the year. In its latest assessment of climate philanthropy, released today, the ClimateWorks Foundation’s Funding Trends 2022: Climate Philanthropy Report estimates total philanthropic donations increased to $810 billion in 2021, of it $7.5 billion to $12.5 billion focuses on climate protection.
Philanthropic giving to help mitigate climate change increased 25% in 2021, according to a new report from the ClimateWorks Foundation.
Total donations from individuals and foundations to climate action have gained momentum since 2015, with significant year-over-year increases in funding. However, it still accounts for less than 2% of global philanthropic giving.
“Far too many people are already experiencing the devastating effects of the climate crisis caused by a dependency on fossil fuels,” he said Helen Mountford, President and CEO of the ClimateWorks Foundation. “Philanthropy must break the 2% funding barrier if it is to do its part to keep the world moving towards a 1.5 degree future. A 25% annual increase in donations is encouraging, but philanthropy needs to accelerate its efforts even more and move funds faster to the places that need them most to give people and the planet a chance.”
funding trends includes global foundation and individual funding data from 2015 to 2021 and the trends shaping philanthropic giving for climate action. In recent years, the Foundation’s funds for climate protection have more than tripled, and the trend is rising 900 million dollars 2015 to more than 3 billion dollars in 2021. At the same time, the number of scholarship holders who receive climate protection measures is falling…
