Philanthropic giving to address climate change was unchanged last year compared to 2021 at roughly US$7.8 billion to US$12.8 billion, a disappointing development in the face of rapidly intensifying climate impacts around the globe.
“A major acceleration of efforts is required to address climate change,” the report said. “Philanthropy has a significant role to play in driving that acceleration and supporting the implementation of recent commitments.” Still, the report noted, “in this decisive moment for the planet, philanthropy must rapidly raise its ambition for advancing transformative climate solutions.”
Giving to mitigate super pollutants surged 60% from year to year, and transportation and industry decarbonization funding each jumped 24%. The spike in interest in super pollutants is a positive step that may have outsized returns, the report said, because it’s likely due to efforts to reduce emissions from methane, which packs more than 80 times the warming power of carbon dioxide in the first 20 years after it reaches the atmosphere.
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