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HELP WANTED 41 3.2 WHY PHILANTHROPY MOTIVATION In the past, philanthropies have had success in catalyzing action on critical technological and social issues and could fill a similar role for carbon removal today. Philanthropies have a long tradition of “filling gaps, spurring step-chang- es in technology and pursuing programming that transcends both national boundaries and econom- ic sectors.” 40 Because of the global nature of the challenges and opportunities around carbon remov- al, philanthropies can provide a critically-important platform for coordinating, informing, and motivat- ing action around carbon removal in an effective and equitable manner. Early philanthropic grants to carbon removal can also provide a signal of the importance of this area to the wider climate and energy community. This, in turn, can engage industry and policymakers to invest in the RD&D and policy changes needed to support the commercialization of carbon removal solutions. With these changes, philanthropies will be able to unlock additional private- and public-sec- tor investment in the field, creating high leverage for each philanthropic dollar spent. Philanthropies fill gaps, spur step-changes in tech, pursue cross-sector programming — just what carbon removal needs Carbon removal can create even greater leverage by broadening the community of philanthrop- ic funders dedicated to climate change. Because carbon removal solutions span numerous sectors and geographies that historically have not engaged deeply in the climate conversation, grants to carbon removal can appeal to a wider range of philanthro- pies. By expanding the overall amount of advocacy for comprehensive climate action, we can increase our chances of meeting global climate goals. A key factor that enables philanthropies to make grants that foster the development of carbon removal solutions is that they can measure success over greater periods of time compared to industry and government organizations. As a result, philan- thropies can afford to make grants whose full im- pact will not be realized until decades in the future, as is the case with carbon removal today. Because philanthropies can play a large role in kick-starting the development of carbon removal solutions, we set out to assess what philanthro- pies are and could be doing to support the carbon removal field. The remainder of this report sum- marizes our analytical approach, our findings, and where we see opportunities for philanthropies to have the greatest impact in the near future.PDF Image | Philanthropy Final Report
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