Foundation Creates $100-Million Climate Change Initiative
9 April 2007
The Doris Duke Charitable Foundation announced a $100-million grant-making initiative to help build a clean-energy economy that can reduce the threat of global climate change to people and the environment.
The five-year DDCF Climate Change Initiative is focused on accelerating the adoption of available, practical approaches to reducing carbon emissions. The goal is to develop policies to bring off-the-shelf and new clean-energy technologies to market faster—including everything from building codes to policies that put a price on carbon.
The DDCF Climate Change Initiative will award up to $100 million in grants in the following three areas:
Pricing Policies for Greenhouse Gases: The foundation will support the development of optimal domestic and international pricing policies for carbon and other greenhouse gases, which will help existing and new clean-energy technologies become competitive in the marketplace.
Technology Deployment & Development Policies: The foundation will support the development of policies that bring available technologies to market more quickly – particularly technologies related to energy efficiency, renewable energy and lowemission uses of coal. The foundation also will support policies that stimulate the development of tomorrow’s clean-energy technologies.
Adaptation Strategies: The foundation will support efforts to begin assessing the likely effects of climate change and identify adjustments that can be made to reduce the impact of those effects. Given the DDCF Environment Program’s mission to preserve wildlife through habitat protection, the foundation may initially focus on examining the impact of climate change on biodiversity conservation.
The foundation expects that more than two-thirds of the initiative’s funds will support technology development and deployment policies. To complement this policy work, the foundation will also support analytical efforts to design optimal pricing policies for greenhouse gases.
A precondition for the success of a clean-energy economy will be putting an appropriate price on carbon dioxide. At the same time, a price on carbon won’t be sufficient by itself to reduce emissions to manageable levels. That’s why we felt compelled to look ahead to the next critical step and have chosen to focus the bulk of our resources on complementary policies related to technology deployment and development.—Dr. Joan Spero, president of DDCF
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