CLIMATEWORKS FOUNDATION

IN 2024, CLIMATEWORKS WORKED WITH AN EXPANSIVE NETWORK OF PARTNERS TO CONTRIBUTE TO ACHIEVEMENTS AROUND THE GLOBE, DRIVING MEANINGFUL PROGRESS ON CLIMATE ACTION. STRATEGIES AND GRANTMAKING THROUGH OUR GLOBAL PROGRAMS: CLIMATEWORKS' STRATEGIES AND GRANTMAKING ACCELERATE TRANSFORMATIVE CLIMATE PROGRESS. WE HELP CLIMATE PHILANTHROPY CREATE STRATEGIES, PROGRAMS, AND INITIATIVES AROUND THE WORLD; INCUBATE, FUND, AND GROW HIGH-IMPACT CLIMATE SOLUTIONS; AND UNLOCK NEW PARTNERSHIPS ACROSS SECTORS AND ISSUE AREAS FOR TRANSFORMATIVE SYSTEMS CHANGE. IN 2024, CLIMATEWORKS GRANTED OVER $248 MILLION VIA 781 GRANTS, GIFTS, AND PROGRAMMATIC CONTRACTS TO 442 GRANTEES BASED IN 44 COUNTRIES. PROGRESS HIGHLIGHTS INCLUDE: - GLOBAL INDUSTRY HUB: CLIMATEWORKS FOUNDATION SUPPORTED THE INCUBATION OF THE GLOBAL INDUSTRY HUB, A NEW FUNDER COLLABORATIVE WORKING TO ACCELERATE INDUSTRIAL DECARBONIZATION AT A GLOBAL SCALE. WITH SUPPORT FROM A COALITION OF VISIONARY FUNDERS, THE HUB BRINGS TOGETHER CAPITAL, INNOVATION, AND STRATEGY TO TACKLE EMISSIONS AT THEIR SOURCE. THE GLOBAL INDUSTRY HUB'S PRIMARY STRATEGY IS SOURCE INVESTING, WHICH GOES BEYOND DOWNSTREAM CLIMATE SOLUTIONS -- LIKE RENEWABLE ENERGY ADOPTION AND CONSUMER BEHAVIOR CHANGES -- AND ADDRESSES THE UPSTREAM INDUSTRIAL PROCESSES AT THE ROOT OF CLIMATE POLLUTION. THESE BOLD INVESTMENTS CAN HELP DECARBONIZE CEMENT PRODUCTION, STEEL MANUFACTURING, AND CHEMICAL PROCESSING, ALL WHILE BOOSTING INNOVATION AND UNLOCKING ECONOMIC OPPORTUNITIES. - MAKING PROGRESS TOWARD A LOW-CARBON MARITIME SHIPPING SECTOR: THE TIDES ARE SHIFTING IN THE EFFORT TO DECARBONIZE THE MARITIME SHIPPING SECTOR. SINCE THE LEADING INTERNATIONAL SHIPPING REGULATOR RELEASED AN AMBITIOUS STRATEGY IN 2023 TO CUT GREENHOUSE GAS EMISSIONS, MAJOR ACTORS FROM GOVERNMENT AND INDUSTRY HAVE BEEN DEVELOPING NOVEL WAYS TO IMPLEMENT AMBITIOUS GLOBAL MEASURES. IN 2024, CLIMATEWORKS' GRANTEES AND PARTNERS CONTINUED TO PLAY MAJOR ROLES IN SHAPING THE FUTURE OF CLEAN SHIPPING BY ADVANCING THE REGULATORY FRAMEWORKS, TECHNOLOGICAL INNOVATION, AND PROOFS OF CONCEPT NECESSARY TO MEET THE SECTOR'S CLIMATE COMMITMENTS. - KEEPING PEOPLE SAFE FROM EXTREME HEAT. EXTREME HEAT IS NOW A DEFINING FEATURE OF THE CLIMATE CRISIS, RESHAPING HOW PEOPLE LIVE, WORK, AND SURVIVE. IT IS OFTEN DEADLY, ESPECIALLY IN LOW-INCOME, URBAN AREAS AND INFORMAL SETTLEMENTS. WITHOUT RAPID INTERVENTIONS, THESE DANGERS WILL GROW. THE CLEAN COOLING COLLABORATIVE (CCC) AND CLIMATEWORKS' ADAPTATION AND RESILIENCE (A+R) PROGRAM ARE WORKING TOGETHER TO ADDRESS THIS THREAT. CCC PROMOTES EFFICIENT, CLIMATE-FRIENDLY COOLING POLICIES AND TECHNOLOGIES WORLDWIDE, INCLUDING GRASSROOTS EFFORTS IN INDIA THAT PILOT COMMUNITY COOLING CENTERS AND PASSIVE COOLING STRATEGIES LIKE COOL ROOFS. THESE LOW-COST SOLUTIONS REDUCE INDOOR TEMPERATURES AND IMPROVE LIVING CONDITIONS, ESPECIALLY FOR WOMEN AND FAMILIES. A+R IS SUPPORTING EFFORTS TO ADDRESS EXTREME HEAT ACROSS A NUMBER OF URBAN AREAS IN LOW- AND MIDDLE-INCOME COUNTRIES, INCLUDING EARLY WARNING SYSTEMS, BY STRENGTHENING INSTITUTIONAL CAPACITY TO PLAN AND PROTECT COMMUNITIES, AND PILOTING INNOVATIVE FINANCE, INSURANCE, AND SOCIAL PROTECTION SCHEMES. TOGETHER, CCC AND A+R ALIGN COOLING INNOVATIONS WITH BROADER CAPACITY STRENGTHENING, PLANNING, POLICY, AND FINANCE EFFORTS, IN ORDER TO BUILD RESILIENCE TO CLIMATE IMPACTS LIKE EXTREME HEAT. DRIVING ACTION WITH INSIGHTS AND DATA: CLIMATEWORKS HARNESSES DATA, RESEARCH, AND EXPERIENCE TO SHAPE HIGH-IMPACT SOLUTIONS, WORKING WITH FUNDING AND IMPLEMENTING PARTNERS TO CREATE LASTING PROGRESS. WE TRACK PHILANTHROPIC FUNDING TRENDS, IDENTIFY SOLUTION GAPS, AND FUND EXPLORATORY RESEARCH TO IDENTIFY AND GROW INNOVATIVE INITIATIVES. FROM THE FUNDING LANDSCAPE TO NEW OPPORTUNITIES, OUR INSIGHTS HELP SHAPE HIGH-IMPACT PHILANTHROPIC CLIMATE STRATEGIES AND SOLUTIONS. TAX YEAR 2024 MARKED THE FIFTH ANNIVERSARY OF CLIMATEWORKS' FLAGSHIP REPORT ON FUNDING TRENDS IN CLIMATE CHANGE MITIGATION PHILANTHROPY. FUNDING TRENDS WAS THE FIRST PUBLICLY AVAILABLE REPORT TO COMPREHENSIVELY QUANTIFY GLOBAL PHILANTHROPIC GIVING TO CLIMATE MITIGATION EFFORTS. SINCE ITS FIRST EDITION IN 2020, THE REPORT HAS EXPANDED TO PROVIDE DEEPER INSIGHTS AND ANALYSIS, ALONG WITH RECOMMENDATIONS ON HOW CLIMATE PHILANTHROPY CAN HELP ACTIVATE NEW SOURCES OF CLIMATE FUNDING. THE 2024 REPORT SPANS THE PAST FIVE YEARS AND FINDS THAT ANNUAL FOUNDATION FUNDING FOR CLIMATE MITIGATION NEARLY TRIPLED FROM $1.7 BILLION IN 2019 TO $4.8 BILLION IN 2023. HISTORICAL FUNDING GAPS PERSIST, ESPECIALLY FOR LOW- TO MIDDLE-INCOME COUNTRIES, PARTICULARLY IN THE FORM OF CORE OR FLEXIBLE FUNDING. ALIGNING FOR GREATER IMPACT THROUGH PARTNERSHIPS AND COLLABORATIONS: COLLABORATION IS AT THE HEART OF EVERYTHING CLIMATEWORKS DOES. WE CONNECT WITH FUNDERS AND IMPLEMENTING PARTNERS TO ALIGN AND DELIVER RESOURCES WHERE THEY MATTER MOST, AND DRIVE POSITIVE SYSTEMIC CHANGE. THROUGH PARTNERSHIPS AND COLLABORATIONS, CLIMATEWORKS CULTIVATES A DYNAMIC LEARNING ENVIRONMENT AND WORKS WITH VISIONARY LEADERS FROM PHILANTHROPY AND CIVIL SOCIETY AROUND THE WORLD TO DRIVE EFFECTIVE AND TRANSFORMATIVE OUTCOMES FOR ALL. IN 2024, A SURGE IN COLLABORATIVE CLIMATE PHILANTHROPY HELPED OPEN GROUNDBREAKING NEW PATHWAYS FOR FUNDERS TO CATALYZE BOLD CLIMATE ACTION WORLDWIDE. CLIMATEWORKS FOUNDATION HELPED COORDINATE MORE THAN 30 FUNDER CONVENINGS ACROSS 13 DISTINCT FOCUS AREAS IN 2024, BRINGING TOGETHER 1,200+ PARTICIPANTS FROM A WIDE RANGE OF GEOGRAPHIES AND PERSPECTIVES. THIS WORK REFLECTS THE FOUNDATION'S AIM TO CULTIVATE A DYNAMIC CLIMATE PHILANTHROPY COMMUNITY ALIGNED WITH LOCAL NEEDS. NEW INITIATIVES AROUND ADAPTATION AND RESILIENCE, JUST TRANSITION, AND INDUSTRIAL DECARBONIZATION TOOK ROOT, WHILE EXISTING PROGRAMS LIKE THE DRIVE ELECTRIC CAMPAIGN AND CLEAN COOLING COLLABORATIVE CONTINUED TO BUILD MOMENTUM. EACH OF THE GROWING FUNDER NETWORKS SUPPORTED BY CLIMATEWORKS DEMONSTRATES THE MULTIPLIER EFFECT OF CLIMATE PHILANTHROPY: EVERY PHILANTHROPIC INVESTMENT TODAY CAN HELP MOBILIZE LARGER-SCALE PUBLIC AND PRIVATE FUNDING TO ACCELERATE TRANSFORMATIVE CLIMATE SOLUTIONS.