During the recent London Climate Action Week 2026, Bloomberg Philanthropies announced $590 million in new funding commitments across clean energy, ocean conservation, and clean air initiatives. This represents one of the largest climate-related philanthropic funding packages announced in 2026. The specific announcements are:
1.) $285 million to support efforts to accelerate clean energy deployment in emerging and developing economies through these mechanisms:
- Strengthening clean energy industry associations and regional networks to better participate in energy planning, financing, and market design;
- Supporting data, economic analysis, and technical research that demonstrate how clean energy can deliver reliable, affordable power at scale;
- Providing technical assistance to help governments and regulators create market conditions that accelerate clean energy investment and deployment;
- Partnering with financial institutions and investors to help unlock private capital for clean energy infrastructure.
As reported by The New York Times, groups that would be receiving funds include Ember, Global Energy Monitor, World Resources Institute, and the University of Maryland Center for Global Sustainability.
2.) $260 million to expand its Bloomberg Ocean Initiative. The funding will support efforts to advance the global goal of protecting 30% of the world’s ocean by 2030, including strengthening marine protected areas, supporting implementation of the High Seas Treaty, improving transparency, and expanding partnerships that support ocean conservation. The announcement brings Bloomberg Philanthropies’ total ocean conservation commitments to more than $635 million.
3.) $45 million to expand Breathe Cities, a global initiative led in partnership with Clean Air Fund and C40 Cities that works with local governments to improve air quality through data-driven policies and public health interventions. As part of this next phase, Addis Ababa and Madrid will join the 14 existing cities in the Breathe Cities network, bringing the total number of participating Breathe Cities to 16.