The most underfunded climate opportunities may be at sea
The Philanthropy Asia Summit highlighted the significant gap in funding for ocean-climate solutions despite the ocean's critical role in climate mitigation. Currently, less than 1.5% of global philanthropic giving is allocated to climate mitigation, with only 0.25% directed towards ocean issues. This disparity poses challenges for addressing the impacts of climate change on marine ecosystems and coastal communities.
- ▪Less than 1.5% of global philanthropic giving goes to climate mitigation.
- ▪About 0.25% of philanthropic funding is directed towards ocean issues.
- ▪Ocean philanthropy has primarily focused on conservation rather than climate solutions.
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At the Philanthropy Asia Summit’s “Sea Change” panel on ocean-climate solutions in Asia, speakers highlighted a mismatch between the ocean’s importance to the climate transition and the tiny share of philanthropic funding directed to ocean-climate work.Ocean philanthropy has long focused on conservation, fisheries, and coastal livelihoods, but climate change is now threatening many of those gains while also making the ocean central to mitigation through offshore wind, cleaner shipping, blue carbon, and coastal resilience.Philanthropy cannot finance offshore wind farms or the decarbonization of global shipping, but it can play a catalytic role by funding policy design, marine spatial planning, community engagement, technical research, coordination, and local capacity.Some of the strongest…
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