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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