Canadian philanthropists pledge record $405 M for climate solutions

Nine families and foundations have pledged $405 million for climate solutions over the next decade, marking the largest philanthropic contribution to fight climate change in Canadian history.

The Climate Champions initiative will provide funding for innovative projects to drive climate action and the country’s transition to a low-carbon economy, the partners said in a joint statement.

“The time to act is now,” said Sylvie Trottier, board member for the Trottier Family Foundation, which pledged $150 million to the initiative.

"The climate crisis is the defining challenge of our time, and requires bold, collective action," Trottier said. "That's why my family is proud to step up with our multi-year commitment, our largest ever."

The initiative also received $100 million from the Peter Gilgan Foundation and a $100 million recommitment from the Ivey Foundation.

The announcement coincides with ongoing U.N. climate meetings in Baku, Azerbaijan, where scientists continue to warn about accelerating global warming. Canada has particularly struggled to reduce its climate emissions since 2005 and faces challenges in transitioning from fossil fuels.

"Climate change is impacting our lives more than ever,” said Luke Gilgan, board member for the Peter Gilgan Foundation. “We are proud to be a part of this historic effort and invite all Canadian philanthropists to join us in stepping up to support climate solutions."

Additional donors include the Ronald S. Roadburg Foundation ($18 million), the Chisholm Thomson Family Foundation ($15 million), and $10 million from Kirsten Anderson and David Keith, who sold his company, Carbon Engineering, last year. 

The Sitka Foundation pledged $6 million, along with $5 million from the Vohra Miller Foundation, and $1 million from philanthropist Allan Shiff.

Climate lens

The group said the initiative is a major boost for climate-focused philanthropy, which accounts for just 0.9 per cent of total philanthropic giving in Canada, well below the global average of 1.6 per cent. 

Climate Champions aims to triple climate philanthropy in Canada to over $300 million annually by 2030.

“There is no issue today that climate change doesn’t touch,” Eric St. Pierre, Executive Director of the Trottier Family Foundation, told Canada’s National Observer.

“We cannot afford to continue doing ‘philanthropy as usual’ without adopting a climate lens,” he said in urging more Canadian families to drive action on climate change.

The initiative is coordinated by the Clean Economy Fund, a charitable foundation that works with the philanthropic community to support climate action. 

The partners bring diverse strengths and expertise — from energy policy to sustainable city planning — and the flexibility to fund and de-risk solutions to attract broader investment, St. Pierre said.

While each organization will implement its own commitments, the nine partners agreed to collaborate through the initiative to maximize their collective impact on climate solutions.

"Philanthropy is critical for unleashing Canada's progress on climate change and supporting the transition to a low-carbon economy," said Eric Campbell, Executive Director of the Clean Economy Fund.