Nine high-net wealth families and foundations have pledged $405 million in climate related philanthropy, in what represents Canada’s largest ever climate pledge on record. 

It signals a boost at climate-related programmes, given Canada’s historically poor contribution when compared to the global average.   

Analysis by the Clean Economy Fund shows that only 0.9 per cent of total philanthropic giving in Canada, well below the global average of 1.6 per cent, goes towards climate.  

‘The urgency to act on climate is unprecedented. Canada must reduce emissions by 40-45 per cent by 2030 to stay aligned with international climate targets,’ Eric St-Pierre, executive director at Trottier Family Foundation – the foundation dedicating the most funds to this initiative – told Alliance. 

St-Pierre added that philanthropy had to step up immediately.

‘Currently, global climate philanthropy needs to be more ambitious if we are to remain below 1.5C and meet our Paris Agreement commitments. We need to immediately galvanise a global movement of climate philanthropists,’ he said.

The total breakdown comprises of $150 million from the Trottier Family Foundation, $100 million from the Peter Gilgan Foundation, $18 million from the Ronald S. Roadburg Foundation, $15 million from the Chisholm Thomson Family Foundation, $10 million from David Keith and Kirsten Anderson, $6 million from the Sitka Foundation, $5 million from the Vohra  Miller Foundation and $1 million from Allan Shiff, in addition to $100 million that was re-committed today by the Ivey Foundation. 

The group will concentrate on five priorities: clean energy and electrification; industry and economy, including agriculture, oil and gas; emission reduction in cities; impact on people and democracy; and policy and finance. 

New commitments were made through the Climate Champions initiative, coordinated by Clean Economy Fund, which has the goal of tripling climate philanthropy in Canada from roughly $100 million to more than $300 million per year by 2030. 

‘Philanthropy is critical for unleashing Canada’s progress on climate change and supporting the transition to a low-carbon economy,’ said Eric Campbell, Executive Director of the Clean Economy Fund, which facilitated today’s announcement.  

The pledge came during COP29, the top UN climate summit being held in Baku, Azerbaijan. 

Canada has meanwhile struggled since 2005 to bring its climate emissions down and to make the leap to a low-carbon economy. 

Shafi Musaddique is the news editor at Alliance magazine