Thanks to scientists and courageous activists, we know that the time we have to avert the climate crisis is running out. We also know that if we are to be successful then it will mean that we all have to do our part— whether it’s businesses ensuring that their products and services are sustainable; policy makers creating the incentives and regulations to drive an ever faster transition; investors channelling money into green technologies; or consumers using the power of their pocket and their vote to send signals to the marketplace that business as usual is no longer acceptable.
Philanthropy is no different and with the newly established Bulb Foundation, we hope that we too can be part of the solution to ending the climate crisis.
Our grant making is focused on supporting those groups who are creating change at the systemic level in markets, policy, politics, or investments. And building on the ethos of our funder, Bulb, we’re most interested in those organisations and ideas that are new and innovative, and that look to challenge the status quo. We believe that to be truly effective, we need to ensure that our grant giving is flexible and able to take advantage of opportunities when they arise. We need to take risks and back people and organisations with potential no matter where they come from and where they work. While it’s early days, we’re excited to share more about four organisations we’re already supporting:
Carbon Tracker uses data to end fossil fuel investment
Carbon Tracker works to provide analytics and advocacy around the concept of stranded assets and the need for the financial community to end investment in fossil fuels. Bulb Foundation is supporting their work around analysing, on a country by country basis, the competitiveness of fossil fuels in an era of increasingly lower costs for renewables to help shift money away from the dirty economy. We’re also supporting their work with the investment community on evaluating companies’ strategies against our global commitment to limit climate change to 2 degrees.
E3G is making sure the UK delivers on its climate goals
E3G is a think tank that supports the transition to a climate safe world. Bulb Foundation has focused our work with them on their work on the UK’s Green Finance Strategy to ensure that the UK delivers on its net zero and climate resilience goals in the lead up to COP26. We’re also one of the major supporters of London Climate Action Week, which brings together climate practioners, civil society, business and investors, and policy makers from around the world to advance climate action.
350.org helps global grassroots movements to work together to do more
350.org supports thousands of grassroots movements around the world, helping them connect up, share learning and mobilise at key moments. The current pandemic has put a temporary hold to so much of the in-person work and protests being done by activists and young people around the world. The need to quickly scale up and develop ever more robust online platforms and tools has become critical and Bulb Foundation stepped in with an emergency grant to support 350.org's work in this area which is now being shared with grassroots activists everywhere.
The Fossil Fuel Non-Proliferation Treaty creates international pressure to phase out fossil fuels
The end of fossil fuel use is critical if we’re going to stop the climate crisis and that means that we need to not only stop the expansion of fossil fuels but develop a clear pathway towards phasing them out. Bulb Foundation’s support of the Fossil Fuel Treaty will include developing international political buy-in, creating pressure to restrict fossil fuel expansion, and identifying the most just pathway to a low carbon future.
This is just the start of our work here at Bulb Foundation. In the next few months we’ll be looking at increasing our grant making in the Global South, helping to stand up local groups with a regional or global impact, as well as working with our peers to incubate new ideas and initiatives. And we hope to prove that through collaboration, determination, and smart grant making, £2 really can make a difference.