Giving Compass' Take:
- A report from Rockefeller Philanthropy Advisers shows that environmental concerns have crept up philanthropist's agendas as they realize the urgency of climate change.
- As the urgency to take action on climate change continues, one major criticism of philanthropy is trusting too much in market-based solutions. How can we shift mindsets and look for bigger ideas that will have an impact?
- Learn what donors can do about climate change.
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The environment and conservation are a top focus of time-limited philanthropic institutions, a report from Rockefeller Philanthropy Advisers shows.
Time-limited, or spend-down organisations, aim to complete their philanthropic projects within a specific time-frame and they have grown rapidly: Nearly half of all organisations established since 2010 are time-limited and most of them want to spend their entire budget within 20 years.
This contrasts with previous philanthropists that have traditionally built long lasting foundations focusing on issues like education, health or the arts. However, the status quo has slowly been changing since the Bill & Melinda Gates Foundation said it would spend all its resources within 20 years of the Gates' deaths.
Driving this change is the more immediate demands of the next generation of philanthropists, the report shows. "They're seeking new approaches and instruments to address acute social and environmental issues effectively," says Rockefeller Philanthropy Advisors CEO, Melissa A. Berman.
“I appreciate the willingness to make more impact now, when it feels most urgent," said one participant of the study.
Read the full article about philanthropy and the environment by Ollie Williams at Forbes.