It's time for philanthropy to come off the sidelines in the fight against climate change

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS Philanthropy can be a powerful source of funding pitched at addressing societal problems: in 2020, US-based grant makers alone disbursed nearly $64 billion. How much of that targeted the climate-change challenge? Just $320 million. While additional funding is earmarked for environmental priorities, and major philanthropists have pledged huge sums, more is needed to reckon with the scale of the problem and the urgent need for climate action. A new article goes deeper on how philanthropy can step up, especially in three focus areas. — Torea Frey, managing editor, Seattle It's time for philanthropy to step up the fight against climate change Climate change's negative effects are coming to bear on high-priority philanthropic issues. More and better funding can protect vulnerable stakeholders and speed the net-zero transition. Maximize impact   Quote of the Day “Substantial investments in physical assets are needed to achieve climate neutrality in Germany by 2045. Our analyses show that the total investments in physical assets required for the transition to climate neutrality includes additional investments of €1 trillion and a redirection of investments of €5 trillion.” —See what it will take in a new report, “Net-zero Germany: Chances and challenges on the path to climate neutrality by 2045” Chart of the Day See today's chart   Also New Net-zero Germany: Chances and challenges on the path to climate neutrality by 2045 Climate neutrality in Germany is possible as early as 2045, but decisive action must be taken now to achieve this target. 10 actions that matter   Maximizing agile productivity to meet shareholder commitments Large organizations' commitments to financial results are at odds with traditional agile methodologies. Adapting them to meet enterprise-wide goals is key. Tap into these solutions   Five trends reshaping European power markets Utilities, traders, and large power consumers face significant challenges addressing the next normal. Address the uncertainties   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2021 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007