According to a new analysis, philanthropy significantly raised donating toward climate change prevention by 25% in 2021, exceeding a rise in philanthropic giving generally of 8% for the year.

According to ClimateWorks Foundation’s Funding Trends 2022: Climate Change Mitigation Philanthropy report, which was just issued, total philanthropic giving increased to $810 billion in 2021, with $7.5 billion to $12.5 billion of that amount going toward climate change mitigation.

Since 2015, the total amount donated by individuals and foundations to combating climate change has increased significantly year over year. Even so, it only accounts for 2% of global charitable giving.

In 2021, charitable donations to combat climate change increased by 25%, according to a recent report from the ClimateWorks Foundation.

The disastrous effects of the climate crisis brought on by our reliance on fossil fuels are already being felt by far too many people, according to Helen Mountford, president and chief executive officer of ClimateWorks Foundation. A 25% annual increase in giving is encouraging, but philanthropy needs to accelerate its efforts even more and move funds faster to the places that need them the most to give people and the planet a fighting chance. Philanthropy needs to break through the 2% funding barrier if it is to do its part to keep the world aiming for a 1.5° C future.

The patterns influencing charitable giving toward climate change are covered in Contributions Trends, which includes statistics on worldwide foundation and individual funding from 2015 through 2021. From $900 million in 2015 to more than $3 billion in 2021, foundation financing for climate change mitigation has more than tripled in recent years. At the same time, from about 1,400 in 2015 to about 2,775 in 2021, the number of grant recipients receiving funding for climate change mitigation has almost doubled.

Source: Prnewswire