Today the Packard Foundation joined a groundbreaking alliance of leading philanthropic organizations contributing over $250 million of initial funding to supercharge ocean-based climate solutions through the Ocean Resilience and Climate Alliance (ORCA). ORCA’s mission is to address the global climate crisis by coordinating efforts within the ocean community and leveraging philanthropy to scale ocean-based solutions. These priorities have been developed in consultation with the ocean and climate donor communities and in collaboration with potential grantees. A full list of grantee partners will be shared in early 2024.
The ocean is one of our most powerful yet often overlooked solutions against climate change. Studies show that ocean-based interventions could account for nearly half of the necessary carbon solutions needed to keep global warming below 2°C. Strengthening coastal resilience efforts is also critical to protect the well-being of the nearly 1.4 billion people around the world living in low-lying areas. Despite this, funding to climate mitigation receives just 2% of total philanthropic giving, and ocean conservation receives less than 1%.
The Packard Foundation’s engagement in ORCA aligns with the belief that the ocean can play a role in climate mitigation – thereby reducing climate impacts on the ocean itself – in ways that enhance local community livelihoods and provide net benefits to ocean health. Meg Caldwell, Ocean Director at the David and Lucile Packard Foundation, noted that “this is a pivotal moment for ocean and climate funders joining forces to harness the power of the ocean to mitigate climate change and strengthen community resilience. We know that equitable and sustainable ocean and climate solutions are possible when we center the communities who depend most on a healthy ocean.”
Together we’re building a healthier, more resilient planet.
See the list of funders and read the full press release on the Bloomberg Philanthropies website.