Foundations call for cooperation, some new pledges at COP27

Philanthropic foundations have made some new commitments at the U.N. climate conference in Egypt over the past two weeks. The overall amount of charitable funding direct toward climate related projects remains small, representing about 2% of estimated philanthropic gifts in 2021. The Gates Foundation pledged $1.4 billion to support for agricultural projects across Africa and South Asia that it said will help small farmers adapt to climate change. Other foundations pooled their resources to support reforestation projects and initiatives to transition to cleaner energy in developing countries. Global climate talks are in the final scheduled day of negotiations Friday, though many expect they will go beyond the deadline to try to reach a deal.