Family offices, philanthropists urged to do more on climate

Institutional investors, family offices and philanthropists are being urged to do more to help fill the estimated $3-$5 trillion a year funding gap on climate-related projects in emerging countries. At the World Economic Forum this month, delegates were told of a new pledge of $1 billion from corporate foundations and philanthropic partnerships towards the goal of net zero by 2050. The response to this was muted, because as was noted by several delegates, that sum is “a drop in …