climate funding
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Who funds conservative climate groups
A surprising coalition of philanthropists, including liberal donors, is supporting conservative climate change initiatives to foster bipartisan solutions.
In short:
- Philanthropic donors like the Gates' Breakthrough Energy Foundation and the MacArthur Foundation are funding both liberal and conservative climate groups.
- Conservative groups such as Citizens for Responsible Energy Solutions and the American Conservation Coalition are receiving millions to promote market-based and innovation-driven climate solutions.
- Funders aim to engage Republicans in the climate fight, believing a bipartisan approach is essential for long-lasting climate policies.
Key quote:
“We have been adamant about trying to be nonpartisan but recognizing we do need to be thinking about other political constituencies, other communities and really as broad as we can when we think about equity.”
— Mijo Vodopic, head of the climate program at the MacArthur Foundation
Why this matters:
This funding strategy seeks to unite diverse political perspectives, ensuring comprehensive climate action that can withstand political changes, thereby improving health outcomes and environmental sustainability. Read more: Flood survivors find common ground in a divided nation.
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EPA prepares to distribute $20 billion for green projects in underserved areas
The U.S. Environmental Protection Agency is set to announce the nonprofit lenders that will distribute $20 billion for environmental projects, focusing on low-income communities.
In short:
- The funding, part of President Joe Biden's 2022 climate law, includes $14 billion for the National Clean Investment Fund and $6 billion for the Clean Communities Investment Accelerator.
- The aim is to finance green energy and efficiency projects, with significant benefits directed towards disadvantaged communities.
- Over 1,200 Community Development Financial Institutions (CDFIs) will play a crucial role in this initiative, focusing on community-driven and affordable housing projects.
Key quote:
"This program is really EPA’s attempt to inject green capital into the capillaries of our financial system in terms of all these smaller community lenders all across the country."
— Adam Kent, director of the Green Finance Program at the Natural Resources Defense Council
Why this matters:
Targeting underserved communities with green finance, this trend intends to address climate change and energy efficiency at a grassroots level, potentially transforming the landscape of community lending in the U.S. This approach indicates a shift toward community partnerships that emphasize sustainability and create opportunities for environmental change.
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Will COP28’s climate fund promises become a reality?
Money is a very big sticking point at this year’s United Nations climate summit. Part of the problem is that American promises often go unmet.
Will COP28’s climate fund promises become a reality?
Money is a very big sticking point at this year’s United Nations climate summit. Part of the problem is that American promises often go unmet.
The financial paradox blocking efforts to fight climate change
Finding money for fossil fuel plants is much easier than financing clean energy projects, especially in developing countries.
Fight over climate disaster fund jeopardizes Dubai UN summit
An agreement to create the loss and damage fund was the big achievement of last year’s climate conference in Egypt. But countries including the U.S. are at odds over how to set it up and who should run it.
US, EU blamed as climate fund talks break down over World Bank push
Recriminations were spreading Saturday morning after the failure of talks on the creation of a new fund to help vulnerable countries rebuild from climate disasters.
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