COP29: Adaptation and Resilience Collaborative for Funders Accelerates Funding, Climate Action in First Year

• The Rockefeller Foundation joins over 60 philanthropy organizations in five continents committed to adaptation after call to action
• New analysis finds adaptation and resilience receives more than $600 million in foundation funding in 2023

BAKU | November 13, 2024 — One year after the launch of the Adaptation and Resilience Collaborative for Funders (ARC), the group has grown to include over 60 organizations working together to learn, coordinate, and invest in climate adaptation and resilience from philanthropy. The ARC emerged from a philanthropic Call to Action at COP28 on a step change in global efforts to adapt to the impacts of climate change that are already locked in.

“Every fraction of a degree matters in a world full of communities already dealing with the immediate and outsized impacts of the climate crisis, especially the 6.3 billion people, or 75% of the global population who sweltered in extreme heat over the last year alone. We are proud of what the ARC has accomplished in just one year and look ahead to growing transformational change, public and private sector engagement, and coordinated strategies through COP29 and beyond,” said Jess Ayers, CEO of Quadrature Climate Foundation.

In the first year of the ARC, which is convened by ClimateWorks, over 60 foundations across climate, development, and health joined to create:

• A landscape assessment that acts as a first step towards transparently sharing progress on foundation funding for adaptation and resilience. The survey shows at least $600 million in annual funding in 2023, with the same funders on track to provide at least $650 to $700 million in funding in 2024.

• Funder learning sessions on key thematic topics such as extreme heat and climate-related displacement and migration to inform, mobilize, and increase funding, which currently sits at a 90% gap in international climate adaptation finance flows in developing countries.

• Strategy development through a consultative process with over 100 stakeholders that leans into philanthropy’s catalytic role to support climate-vulnerable people in building resilience and adapting to the impacts of climate change.

• Coordinated action and investment such as timely responses to a call to action on extreme heat from the United Nations, where a group of philanthropies mobilized an initial commitment of $50 million in climate adaptation and resilience efforts.

“Adaptation to the tragic impacts of the climate crisis is an economic and social imperative, essential for ensuring safe and prosperous communities and local economies for all. As extreme climate events continue to push humanity and ecosystems to the limits of a livable world, investing in climate adaptation and resilience is necessary for today and our collective future. We are excited to see this diverse group of funders from five continents and a range of disciplines agree to collaborate together on scaling a central mission: to accelerate action on climate adaptation to the benefit of all,” said Helen Mountford, president and CEO of ClimateWorks Foundation.

Philanthropy has a unique role, not just as a funder but as a catalyst, leveraging resources to unlock public and private funding. The United Nations’ latest findings show that adaptation financing needs in developing countries alone are nearly $400 billion per year. The world is struggling to close the adaptation finance gap and the Adaptation and Resilience Collaborative for Funders (ARC) is working to mobilize philanthropy in order to scale its own funding and therefore further unlock additional investment.

For more on the ARC, please read the report.

About the Adaptation and Resilience Collaborative for Funders (ARC)

At COP28 in Dubai, ClimateWorks Foundation partnered with other leading funders to launch a Call to Action to accelerate action on climate change adaptation. The Call to Action now has 21 signatories and growing. This report is a first step in signatories’ pledge as part of the Call to Action to transparently and regularly share progress. Building on this effort, ClimateWorks and other funders have been growing a coalition of philanthropic organizations interested in scaling action on adaptation, particularly in the Global South. ClimateWorks now runs the Adaptation and Resilience Collaborative for Funders (ARC), a loose affiliation for ~60 foundations of all different shapes and sizes, with different regional, thematic, and sectoral priorities, who are eager to come together to advance philanthropy’s role in addressing the risks and impacts of climate change through learning, dialogue, coordination, and action.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity. Today, we are focused on advancing human opportunity and reversing the climate crisis by transforming systems in food, health, energy, and finance. For more information, sign up for our newsletter at www.rockefellerfoundation.org/subscribe and follow us on X @RockefellerFdn and LI @the-rockefeller-foundation.