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Today’s Highlights:
🔝Top Story: Canadian Families and Foundations Pledge $405M to Drive Climate Action.
💲Investment: Founderful raises $140M, Ingka Group commits EUR 1.5B to cut IKEA’s footprint, and Tangible secures £4M for climate tech financing.
🔬 Innovation: MIT engineers boost CO₂-to-chemical conversion, researchers pioneer ambient-temperature lithium battery recycling, and new anion exchange membrane enhances green hydrogen electrolyzers.
🔄 Integration: OpenAirlines secures €45M to expand eco-flying software, while a coalition of 40+ business leaders calls for policy to drive $1T in green materials investment by 2030.
💡 Intelligence: COP29 Highlights Divergent Visions on Climate Action.
Canadian Families and Foundations Pledge $405M to Drive Climate Action
Image Credit: THE CANADIAN PRESS/Sean Kilpatrick
Historic $405M Climate Pledge Unveiled by Canadian Families
Nine families and foundations across Canada have pledged a collective $405 million over the next decade to fund climate initiatives. This includes significant contributions like $150 million from the Trottier Family Foundation and $100 million from the Peter Gilgan Foundation, all aimed at driving meaningful climate action through the Climate Champions initiative, a campaign led by the Clean Economy Fund to bolster Canadian climate philanthropy.
Philanthropy’s Role in Canada’s Climate Response
Canada’s climate philanthropy has lagged, accounting for less than 1% of all charitable giving—significantly lower than the global average. With this historic pledge, the Climate Champions initiative aims to triple annual climate funding from $100 million to over $300 million by 2030, setting a new benchmark for philanthropic engagement in environmental causes. Supporters like Sylvie Trottier emphasize that philanthropic capital can catalyze government and private sector support for scalable solutions.
Funding for Sustainable Solutions and Innovation
The pledged funds will support diverse climate-focused projects, including the Canadian Electric School Bus Alliance, which works to replace diesel school buses with electric alternatives by 2040. Trottier highlighted the transformative potential of these projects, underscoring how philanthropic investment can drive policy and technological change for a healthier, more sustainable future. Read More
Investment Highlights of the Day
- Founderful has closed an oversubscribed $140 million Fund II to support early-stage Swiss tech startups, following a successful $90 million Fund I, with backing from prominent investors and notable achievements in job creation and follow-on funding. Read More
- Ingka Group, the largest IKEA retailer, is investing EUR 1.5 billion to phase out fossil fuel use and improve renewable energy systems, aiming to cut its operational climate footprint by 85% by 2030. Read More
- London-based fintech Tangible has raised £4 million to develop software that simplifies financing for climate hardware companies, addressing a critical need for scalable and accessible climate tech funding. Read More
Innovation Highlights of the Day
- MIT engineers have developed a new electrode design that significantly boosts the efficiency of converting carbon dioxide into valuable chemicals like ethylene, potentially making CO₂ conversion more economically viable. Read More
- Researchers have developed a simple, ambient-temperature method for directly recycling lithium-ion battery cathodes, restoring their original state through galvanic corrosion in a restoration solution. Read More
- Researchers have developed a durable anion exchange membrane with high conductivity to improve the performance and stability of AEM water electrolyzers for green hydrogen production. Read More
Integration Highlights of the Day
- OpenAirlines has raised nearly €45 million to accelerate its eco-flying software solutions, helping airlines reduce fuel consumption and CO₂ emissions, with over 70 airlines already benefiting from its technology. Read More
- A coalition of over 40 business and finance leaders is urging governments to stimulate demand for green materials, chemicals, and fuels, with the potential to unlock $1 trillion in investment and accelerate decarbonisation in key industries by 2030. Read More
Climate Insider Intelligence: COP29 Highlights Divergent Visions on Climate Action
In Azerbaijan, COP29 witnessed a sharp divide among world leaders, with urgent calls for rapid decarbonization clashing against advocates for a “pragmatic” approach to safeguard economic resilience. The latest Global Carbon Project report revealed fossil fuel emissions at an all-time high in 2024, warning that net-zero goals must now shift a decade earlier, to the 2030s, to meet the Paris Agreement targets. As climate-vulnerable nations implore wealthy countries for critical funding, others, like Italy and Greece, argue for a gradual transition to protect industrial competitiveness. Dive into Climate Insider’s deep analysis of COP29’s defining debates on the future of global climate action. Read More
