With Trump 2.0, these climate donors are thinking differently

illuminem summarizes for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: In response to Trump’s climate policies, philanthropies are shifting strategies—some doubling down on state-level action while others fund bipartisan efforts
• Founders Pledge is investing in right-leaning climate organizations, and groups like the Global Energy Alliance for People and the Planet (GEAPP) are promoting public-private partnerships
• Meanwhile, major U.S. banks are retreating from voluntary climate commitments

🔭 The context: After Trump's withdrawal from the Paris Agreement, Bloomberg Philanthropies stepped in to fulfill U.S. financial commitments
• Climate donors are now focusing on preserving Biden-era programs and ensuring federal agencies continue supporting green policies
• Many see voluntary corporate pledges as unreliable, pushing for legally binding commitments instead

🌍 Why it matters for the planet: The shift in philanthropic strategy aims to sustain progress on climate action despite political changes
• Bipartisan support for clean energy could stabilize long-term climate policies, while new funding models may drive investment in global infrastructure projects
• The decline of voluntary corporate commitments raises concerns about the private sector's role in addressing climate change

⏭️ What's next: Philanthropies will likely push for codifying sustainability commitments into law
• More funding may flow toward grassroots efforts in conservative districts to maintain support for climate-friendly policies
• Global initiatives like Mission 300 will continue leveraging philanthropic and institutional funds to expand clean energy access

💬 One quote: “The whole eco-right ecosystem is funded on the order of $30 million a year, which is like peanuts. This is very much the level where philanthropists can engage.” — Johannes Ackva, Founders Pledge

📈 One stat: The World Bank and African Development Bank have pledged $48 billion to expand electricity access in Africa over five years

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