Summer Reading for Climate Philanthropists (and Other Earth-Based Funders)

In case you haven’t heard, there’s nothing humans do — and therefore nothing philanthropy funds — that isn’t increasingly going to be affected by climate change in the years ahead.

Focused on education? Classrooms are getting hotter. Health? Heat-related illness and deaths are rising. Women? They are frequently among the first and worst harmed by climate catastrophe. And those are only a few examples.

Many philanthropists are well aware of these risks, yet funding for the climate crisis remains low — a far cry from the universal consideration it deserves. But those ready to make a change are in luck. Several new resources published over recent months offer guidance and food for thought for those who are just starting to consider climate in their grantmaking, not to mention plenty of useful information for long-time funders of climate action.

While they’re not exactly beach reading, these five reports offer up sobering reminders of all we need to do to preserve not just sandy coastlines, but a habitable planet. In addition, they offer paths for how funders can get involved — and many inspiring examples of what is already being done.

The topics they cover range from climate justice to collaborative funds to the impact of investments. One common theme: the vital role of philanthropic collaboration in confronting the climate crisis, whether between grantmakers of all sizes, or among foundations and intermediary funds with the relationships and capacity to make grants to small grassroots organizations.

Whether they’re climate-curious or climate-seasoned, these are only a few of the resources that funders and fundraisers might consider for their summer reading list. Other more specialized materials include a study of how to put capital to work in service of climate and conservation goals, released by Latimpacto, a Latin American social impact network, and a report on the most common media narratives about climate solutions by a climate justice intermediary fund The Solutions Project. And there are slightly older readings, as well, such as Unbound Philanthropy’s invaluable report and related case studies on migration and climate change.

Here are some key takeaways from five reports on climate philanthropy worth a look.

A primer on climate justice

Looking for a 101 on climate justice philanthropy? “Centering Equity and Justice in Climate Philanthropy” is a great place to start. Published by Candid in partnership with the European social justice funder network Ariadne, this 87-page report was born out of the latter’s desire for a guide to climate justice grantmaking targeted toward funders focused on social issues, rather than the environmental or scientific focus of many traditional climate grantmakers.

It covers the basics of the field, typical challenges funders face and several examples of what peer foundations are doing. That includes the work of philanthropic institutions of all sorts, spanning regional operations like the Midwest-focused McKnight Foundation, progressive powerhouses like the Libra Foundation, and national and international funders like the William & Flora Hewlett Foundation and the Oak Foundation, which together funded the report.

Created with input from many of the leading climate justice intermediary funds and their funders, the report includes an extended section on the critical role of such regrantors in this space. As the report discusses, such groups can help funders learn and make connections, not to mention provide accountability and strengthen the overall climate justice ecosystem. If you’re pressed for time, start with the list of key takeaways at the end of the report. It might make you want to read it in full.

An intro to some of the field’s major funder collaborations

While not quite as lengthy as some of the other resources here, “Giving Together to Address the Climate Crisis” offers short and helpful profiles of some of the major climate philanthropy collaboratives. For funders looking to join with experienced peers, this 11-page resource has plenty of options. Entries cover groups from across the movement, ranging from Drive Electric, an electric vehicle campaign organized by ClimateWorks Foundation, to Climate Leaders in Movement Action (CLIMA) Fund, a multi-partner global grassroots funding collaborative. A longer list at the end offers an even more expansive overview of such funds.

Published by the Bill and Melinda Gates Foundation and Climate Leadership Initiative (CLI), the brief also offers a rare window into the thinking and closest partners of CLI, a low-profile spinoff of ClimateWorks that aims to increase climate funding by providing free advice to ultra-wealthy donors. If you’re wondering which organizations it recommends to its clients, this is one of the few public indicators.

One might argue there’s an element of self-interest here. For instance, all but one of the “Driving Technological Innovation” entries are branches of Bill Gates’ investment-philanthropy operation Breakthrough Energy. And most of the profiles feature groups funded by one or more of CLI’s board members or funder partners — though given that includes most of the field’s biggest players, that’s hardly surprising. All in all, it’s a helpful introduction to these groups, particularly for the climate philanthropy newcomer. Perhaps its release means CLI will begin to share more of its materials with the public.

Not just more funding, but more justice

It’s the most cited stat in climate philanthropy: Only 2% of global grants go to the climate emergency. But a May report from EDGE Funders Alliance, “Beyond 2%: From Climate Philanthropy to Climate Justice Philanthropy,” argues that the focus on that percentage obscures the need for philanthropy to put more money behind movements instead of overwhelmingly backing research and technology.

The 32-page resource is the latest manifestation of a critique that dates back nearly to the first days of mainstream climate philanthropy. Certain foundations have added movement groups to their portfolios, but the share of funding going to climate justice groups remains tiny. The report offers a set of recommendations to the sector, calling for funders to empower movement leaders within their ranks, move toward more trust-based relationships with grantees, and consider philanthropy’s appropriate role in a wider context in which capitalism and colonialism have empowered some voices and marginalized others.

Are foundations, like companies, overlooking their assets’ carbon footprint?

Some of the world’s biggest and most well-known companies have put a lot of work into reducing their emissions. But their assets may be responsible for more carbon emissions than all other sources combined, according to “The Carbon Bankroll: The Climate Impact and Untapped Power of Corporate Cash.” The shocking finding is one of the first attempts to quantify the emissions of such holdings — and its authors suggest foundations’ endowments might have a similarly dire impact.

Released in May, this 54-page report barely mentions foundations. But like companies, philanthropic organizations are often sitting atop big piles of cash and investments. The goal is to publish a detailed analysis of the assets of top foundations this year, according to the authors, which include BankFWD, an initiative founded by members of the Rockefeller family that has pushed foundations and donors to switch to climate-conscious banks.

Actually, funders are aware of and afraid of climate change, but they’re not funding it

Wondering what foundation leaders think about climate change? The Center for Effective Philanthropy asked them. Its July report, “Much Alarm, Less Action: Foundations and Climate Change,” shows that despite the concern, many philanthropists consider the crisis outside of their missions. Even many avowed climate funders only dedicate a small portion of their assets to relevant grantmaking.

For funders wondering how their peers are thinking, or fundraisers trying to get a sense of donors’ minds, it’s a valuable, if disheartening, window into perspectives on climate change. It makes clear that funders are aware and concerned. But is there all-hands-on-deck urgency? Not so much.

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