Five foundations have launched a US$50m Adaptation and Resilience Fund (A&R Fund) to assist people facing the greatest climate risks such as extreme heat, floods, and droughts.
Led by the ClimateWorks Foundation, in partnership with the Howden, Laudes, Quadrature Climate, and Rockefeller foundations, the new fund will drive community resilience in low- and middle-income geographies across the Global South, with projects ranging from early warning systems to innovative financial tools.
Initial grants will be focussed on support efforts to combat extreme heat in urban areas in South Asia, Southeast Asia, and sub-Saharan Africa, as well as strengthen economic stability, workers’ rights, and health outcomes
“Extreme weather events – driven by climate change – are the biggest risk the world faces over the next decade,” said Claire Harbron, CEO of Howden Foundation. “Philanthropy has a critical role to play in supporting those most impacted to access the information and resources that they need to respond.
With more than 2.4 billion people at risk of severe heat every year, philanthropy can act as a critical support for communities facing health and economic impacts. Coming at a time when many interntional donors are slashing their overseas aid budgets, the A&R Fund will help to ensure vulnerable communities are not left behind.
