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Climate philanthropy under ressure: catalytic practices and response to political shocks among U.S. foundations
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This thesis examines how major U.S. foundations finance and catalyze climate action, and how their strategies are perceived to shift during periods of political disruption. It analyzes all IRS Form 990-PF grant records from 2015–2023, coding 73,708 grants across five major U.S.
foundations for climate relevance and then for catalytic indicators: leverage, field-building, risk tolerance, and speed/adaptability. This quantitative analysis is complemented by document review and 11 semi-structured expert interviews with philanthropic and climate-finance
practitioners. The findings map foundations’ catalytic roles within the climate finance ecosystem and assess perceived strategic adjustments surrounding the January 2025 U.S. presidential inauguration
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Climate philanthropy Climate finance Catalytic philanthropy American foundations