Open Society Foundations commits $400 million to climate prosperity
The Open Society Foundations (OSF) has announced the launch of an eight-year, $400 million initiative to develop green industrial policies that contribute to economic growth in the Global South.
Through its new Economic and Climate Prosperity program, efforts in the Americas, Africa, the Middle East and North Africa region, and Southeast Asia will be funded to promote policies that advance economic prosperity for all while addressing the climate emergency. The work will include supporting civil society organizations and independent economic think tanks working on policy issues in countries including Brazil, Mexico, South Africa, Senegal, Malaysia, and Indonesia.
The first grants are expected to be awarded later this year. Led by Rio de Janeiro-based program director Laura Carvalho, the initiative is the first major new program to be announced after a two-year organizational transformation at OSF that was completed earlier this year.
“The current economic system is failing developing countries. It stops them from being able to grow economically and fight climate change at the same time,” said OSF president Binaifer Nowrojee. “We need new ideas to create fairer, more just societies. That’s why Open Society is committing $400 million to help achieve this goal.”
(Photo credit: Open Society Foundations/Rayon Richards)
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