ClimateWorks receives $40 million gift to accelerate zero-emission maritime shipping. ClimateWorks Foundation is honored to receive a $40 million gift from philanthropist MacKenzie Scott in support of its efforts to help transform the global maritime shipping sector into a zero-emission, resilient, and equitable industry by 2050. Maritime shipping is the backbone of global trade - and a significant contributor to climate pollution. With nearly 3% of global greenhouse gas emissions originating from ships, the sector plays a critical role in the global transition to clean energy. While recent developments at the IMO have postponed the vote on the Net Zero Framework and introduced procedural complexities, momentum toward an ambitious and equitable framework for zero-emission shipping continues to advance. This gift enables ClimateWorks to deepen and expand efforts that help ensure this transition delivers economic opportunity, healthier port communities, and long-term climate benefits. Driving momentum for zero-emission maritime shipping. With this support, ClimateWorks will work with partners across regions to: * Accelerate the deployment of zero-emission fuels and technologies, helping move the sector toward full decarbonization by 2050. * Support a just and equitable transition for workers, communities, and industries directly affected by changes in global shipping. * Drive action across governments, industry, and civil society, building on growing global momentum for clean shipping - including leadership from the EU, U.S., Asia, and Latin America. Philanthropy is relatively small in scale compared to the global decarbonization challenge, but it remains uniquely catalytic. Strategic funding can help test solutions, de-risk innovation, and unlock the broader public and private investments needed to transform a complex sector like maritime shipping. A moment for bold action. "This gift comes at a pivotal moment for the maritime sector," said Jason Anderson, Senior Program Director for ClimateWorks' Maritime Shipping program. "Around the world, we're seeing governments, industry, and communities push for cleaner, more resilient shipping. This support allows us to accelerate that momentum - advancing technologies, policies, and partnerships that reduce pollution, strengthen port communities, and build a more equitable global economy." MacKenzie Scott's approach to philanthropy shows how generosity can meet the urgency of this moment. Her support underscores the importance of sustained, collaborative efforts to confront the climate crisis while improving lives and supporting shared economic prosperity. ClimateWorks is proud to work alongside civil society organizations, port communities, and industry leaders who are already helping to build this future. This gift will help accelerate their work and amplify solutions ready to scale globally.

The report analyzes overall philanthropic funding from individuals and over 90 foundations in 2023, revealing that $9.3 billion to $15.8 billion was directed toward mitigating climate change."The growth in climate funding is a positive step, but the stakes couldn't be higher," said Helen Mountford, president and CEO, ClimateWorks Foundation. "As the global landscape becomes more complex and the planet continues to overheat, philanthropy has a critical role to play in catalysing transformative climate action in a way that is resilient to political shifts and focused on what people need most: economic and development opportunities, health and security, and a livable planet. By acting boldly and collaboratively, philanthropy can bridge divides and help build a sustainable and equitable future for all."Major findings from the report include:Record growth: In 2023, climate giving grew by 20% year over year, with foundation funding reaching a record $4.8 billion – nearly triple the $1.7 billion in 2019.In 2023, climate giving grew by 20% year over year, with foundation funding reaching a record – nearly triple the in 2019. Top-funded priorities: Clean electricity, forests, and food & agriculture were the three top-funded sectors from 2019-2023, with public engagement remaining the leading enabling strategy for climate action funded by philanthropy.Clean electricity, forests, and food & agriculture were the three top-funded sectors from 2019-2023, with public engagement remaining the leading enabling strategy for climate action funded by philanthropy. Geographic funding gaps: The U.S. and Europe received 60% of tracked funding directed to a single country or region 2019-2023, while Africa , Other Asia and Oceania, and Latin America – home to over 6 billion people – received an estimated 20%

At COP28 in Dubai, ClimateWorks Foundation partnered with other leading funders to launch a Call to Action to accelerate action on climate change adaptation.