The BlackRock Foundation funding innovative climate technologies
We see an emerging role for philanthropic capital to fill important gaps in funding to de-risk and accelerate the availability of clean energy technologies.
This is why The BlackRock Foundation has committed $100M to Breakthrough Energy Catalyst. Catalyst provides a new framework for how companies, governments and private philanthropy can finance, produce and buy new solutions to accelerate a low-carbon economy. Catalyst’s initial focus will be to help speed the development and commercialization of five clean energy technologies: direct air capture, green hydrogen, green manufacturing, sustainable aviation fuel and long-duration energy storage. Catalyst identifies technologies at critical junctures where investments and blended financing can reduce the green premium - the difference in cost between a carbon emitting technology and its cleaner alternative.
The commitment is the Foundation’s largest grant since it was founded in February 2020 and will help bring vital clean energy solutions forward – at scale – to achieve the world’s decarbonization goals and mitigate the uneven impact of climate change on communities. Making clean technologies viable and affordable for the communities who depend on them is aligned to The BlackRock Foundation’s mission to help people build financial security and participate in an inclusive transition to a low-carbon future.
This approach builds upon the firm’s philanthropic leadership on other pressing societal issues that impact the financial security and wellbeing of people and communities around the world.
