The Climate Pledge (Pledge) seeks to help trigger at least $1B in new grant and investment funds from the philanthropic sector in 2020 for climate action. The Pledge is a mechanism to support the sector in stepping up its commitment to climate action in the same year that national governments are being called upon to increase their commitments through the COP process.
The funds are neither collected by nor directed to any specific organizations. The Pledge is the tool to ensure that climate action rises to the top of the philanthropic agenda.
There is a Pledge form on-line at www.climate-pledge.org. By signing and submitting the information, we will be able to track new commitments and better understand the changing landscape of climate philanthropy and investments.
Working with Candid (formerly the Foundation Center), we will track the information that is provided – gifts, grants and investments, in what amounts, directed to which sectors. These details will be analyzed in aggregate to create a more accurate overview of the field. KPMG will follow-up with donors to verify when the pledges are activated.
Pledges will be tracked beginning with a minimum pledge of $100,000. All individuals and institutions pledging a minimum of $100,000 will be listed on the Pledge platform (unless they choose to be anonymous). Those that pledge $10m or more will receive special recognition.
‘Climate philanthropy’ includes all philanthropic efforts that seek to substantially reduce our human carbon footprint and/or adapt to global warming. The CAP is informed by the comprehensive, science-based, substantive solutions to global warming highlighted by Project Drawdown.
The Climate Pledge will include an online Directory to help inform donors who are either new to climate philanthropy or wish to consider new opportunities. The Directory will include a discrete set of gift/grant-making options that have been vetted by other donors already, as well as a small number of impact investment options and mainstream climate-friendly investment resources.
To support the goal, the organizers will be actively promoting the Pledge through their organizational networks, at numerous philanthropy and investment forums around the globe and through a small number of convenings in 2020. The organizers will also encourage collaboration, information-sharing and public accountability through the Pledge-tracking mechanism, strategic use of media and knowledge platform to inform public understanding.
Climate change is the defining challenge of our time and philanthropy has a pivotal role to play in shaping the discourse on global warming and encouraging wide-spread civic activity. Philanthropy can also play a crucial role in supporting innovation, providing essential ‘risk capital’ to test new approaches, and promote a vision of a healthy, ecologically-balanced future.