and building resilience to climate change impacts, a new analysis shows that total philanthropic giving by foundations and individuals remained essentially flat from 2021 through 2022.In addition to the growing low-carbon economy, philanthropic giving is a major source of support for emissions cutting as well as climate adaptation.Given this reality, scaling up philanthropic support for climate programs is sorely needed, said ClimateWorks CEO Helen Mountford.
Total giving added up to about $811 billion in 2022, ClimateWorks found, of which between $7.8 to $12.8 billion was focused on climate change mitigation.The flat trend in spending from 2021 to 2022 can be traced to large boosts in funding the previous year, as well as challenging economic conditions.
Clean electricity was still the biggest category for foundation funding, but 2022 saw a spike in money for reducing emissions of super pollutants like methane and to decarbonize transportation.One notable trend in the report is a significant shift in funding to Africa, where population growth is particularly high.Share on linkedin