"The immediate threats of climate change-glacial melts, floods, storms, and droughts-will hit hardest in the regions least equipped to cope," said Terry Kellogg, CEO of 1% for the Planet. "The Greengrants Climate Fund will support projects where money is most scarce, particularly in Africa and low-lying island states."
A first for business-backed funds, this new effort will help communities both mitigate and adapt to the effects of climate change by developing alternative energy sources, protecting tropical forests and fragile coasts, training farmers in resilient agriculture, and supporting leading mitigation and adaptation strategies for viable global solutions. "Our network of 125 expert environmental grant-making advisers around the world will help channel funding to grassroots groups in nearly 100 developing countries most affected by climate change," said Terry Odendahl, CEO of Global Greengrants Fund.
Two 1% for the Planet members, clothing companies MEK Denim and Miss Me, helped launch the fund with a combined $140,000 commitment in April. Soohan Kim, Chief Financial Officer of MEK Denim and Miss Me, remarked, "Businesses too can play in important role in dealing with climate change. We believe in the importance of supporting grassroots efforts to help communities both combat and adapt to a changing environment."
About 1% for the Planet:
1% for the Planet is a growing global movement of over 1,285 member companies - small and large - in 38 countries, that donate at least 1% of annual sales to environmental organizations. Founded in 2002 by Yvon Chouinard of Patagonia (member #1), and Craig Mathews of Blue Ribbon Flies (member #2), the network has donated over $50 million to sustainability causes to date. With more than one new business joining the 1% for the Planet network each day, 1% is recognized as the leading certification for businesses achieving the gold standard in corporate giving.
About Global Greengrants Fund:
Founded in 1993 to support grassroots projects and policy for social environmental justice around the world, the Global Greengrants Fund works through networks of on-the-ground volunteer advisors to locate dynamic, effective projects in environmental justice, preservation, and policy; by year-end 2010 they will have donated $24 million to 129 developing countries. The fund aims to serve the poorest countries of the world, particularly in South America and Africa. Poor, rural and indigenous communities not only suffer most the consequences of shifts in rainfall, rising seas, and increased climate variability, they are also the most vulnerable due to economic and environmental policies of the countries in which they live.