Published March 3, 2025Our Impact 2024
2024 has been a mixed year when it comes to Canada’s transition to a net-zero emissions economy. On the bright side, we recorded a modest drop in climate pollution, made major progress on clean electrification, and saw an uptick in building energy efficiency, zero-emission vehicle uptake, and clarity for climate-forward finance. On the downside, political headwinds intensified, and continue to intensify, both north and south of the border. While we prepare ourselves for a challenging 2025, let’s take encouragement from the incredible successes of 2024. We are grateful for our many new funding collaborations with over 20 families and foundations, which as you will see below has led to a banner year of impact for Clean Economy Fund. We are looking forward to growing and strengthening our collaborations in 2025, and to continuing to support giant leaps toward a prosperous, net-zero future.
On behalf of CEF’s staff, expert advisors, and Board of Directors, thank you for another active, productive and impactful year.
Highlights of 2024
$405 Million in new climate philanthropy
The first half of Clean Economy Fund’s charitable mission is to recruit more climate philanthropy in Canada. In 2024 we did just that, culminating in the biggest philanthropic contribution to climate solutions in Canadian history, with 9 families & foundations committing $405 million over ten years. The unprecedented commitment, which was made in November through our new Climate Champions Initiative, represents a major boost to Canadian climate philanthropy, which sat at just $106 million per year in 2022 according to our yearly analysis.
Huge strides for more and better housing
In 2023, Clean Economy Fund brought together 10 funders to launch a new initiative to address Canada’s housing shortage with affordable, low-carbon and resilient homes. In March this year, our Task Force for Housing & Climate, co-chaired by Lisa Raitt and Don Iveson, released its highly-anticipated “Blueprint for More and Better Housing”. More than 40 of the report’s groundbreaking recommendations were quickly adopted by federal and provincial governments. We’re looking forward to building on that work with our funder collaborators in 2025.
Indigenous leadership on electrification
“The only road to net zero runs through Indigenous lands”. That important piece of counsel came from the First Nations Major Projects Coalition via a 2022 report, and it rings especially true when it comes to growing Canada’s clean electricity supply. So in 2023, Clean Economy Fund convened 6 funder collaborators to support the National Indigenous Electrification Strategy initiative, pioneered by FNMPC and Mokwateh. In April, after engaging more than 150 Indigenous communities, the two Indigenous-led organizations released their seminal report. In 2025, our funder collaborative will be supporting the implementation of the Strategy.
Other 2024 highlights
Clean Economy Fund also facilitated philanthropic support for many other high-impact initiatives in 2024. Honorable mentions go to:
- New Economy Canada’s assembly of a first-of-its-kind business coalition for the net-zero transition
- Clean Prosperity’s sophisticated efforts to activate climate-conscious conservatives
- Re.Climate’s sector-wide community of practice to foster better climate messaging
- New Majority’s deep engagement of youth across Canada
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