{"id":28838,"date":"2023-10-23T16:56:50","date_gmt":"2023-10-23T16:56:50","guid":{"rendered":"https:\/\/www.theyouthharbour.org\/?p=28838"},"modified":"2024-01-02T20:07:37","modified_gmt":"2024-01-02T20:07:37","slug":"new-york-climate-week-blog-3-climate-finance-philanthropy-and-a-lot-of-jargon","status":"publish","type":"post","link":"https:\/\/www.theyouthharbour.org\/fr\/new-york-climate-week-blog-3-climate-finance-philanthropy-and-a-lot-of-jargon\/","title":{"rendered":"New York Climate Week Blog 2 : Financement du climat, philanthropie et beaucoup de jargon"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.23.4″ hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” background_color=”#F3F4E4″ sticky_enabled=”0″][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/www.theyouthharbour.org\/wp-content\/uploads\/2023\/10\/Kat-Cadungog-presenting.jpeg?_t=1704225729″ _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” title_text=”Kat Cadungog presenting” hover_enabled=”0″ sticky_enabled=”0″ custom_margin=”-18px|||||” width=”50%” module_alignment=”center”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

Image Description<\/b>: Kat Cadungog presenting at The Youth Climate Justice Fund launch event in New York, with funky slides.<\/span><\/em><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content”][et_pb_column _builder_version=”4.23.4″ _module_preset=”default” type=”4_4″ theme_builder_area=”post_content”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

As I delved into the complexities of climate finance and philanthropy, I was struck by the pressing questions surrounding how movements, corporations, and foundations perceive and engage with climate finance. It became evident to me that we need a paradigm shift in our perspective. Climate philanthropy shouldn’t just be an “ethical side hustle” but a profound moral obligation.\u00a0<\/span><\/p>\n

Throughout New York Climate Week, it was evident that traditional finance and philanthropy is not going to be enough to meaningfully respond to the climate crisis. We are in a pivotal moment, where \u201cbusiness as usual\u201d will not solve the systemic injustices that have driven the climate crisis. Many people see funding work in the intersection of justice and climate, as an \u201cethical side hustle\u201d but we need to have a paradigm shift in the way we think about philanthropy so we recognize that financially supporting movements is a moral obligation <\/span>more<\/span><\/i> than an economical decision.<\/span><\/p>\n

In addition, we often place the obligation of funding climate justice issues on philanthropy but it is worthwhile to note that in the US (there\u2019s not a lot of data in Canada on these numbers), $400 billion dollars sit in philanthropy, while $65 trillion dollars sit in US capital markets. To put this in perspective, philanthropy only accounts for 5% of the funding in the \u201cworld of finance.\u201d\u00a0 It’s clear to me now that while philanthropy has its place, it alone cannot address the vast financial needs of our world. We must reimagine our systems with justice and equity at the forefront.<\/span><\/p>\n

\u00a0I learned this in my favourite event of New York Climate Week called \u201cOur Money and Justice, the Roots of Climate Action\u201d hosted in partnership with <\/span>Taproot Earth<\/a>, <\/span>Kataly Foundation<\/a>, <\/span>Solutions Project<\/a>, and Capital J Collective. In this particular event I felt challenged to rethink my relationship with money and how we, as a movement, can reframe our narratives around money.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/www.theyouthharbour.org\/wp-content\/uploads\/2023\/10\/Our-Money-and-Justice.jpeg?_t=1704225836″ _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” title_text=”Our Money and Justice” hover_enabled=”0″ sticky_enabled=”0″ custom_margin=”-18px|||||” width=”50%” module_alignment=”center”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

Image Description<\/i><\/b>: \u201cOur Money and Justice, the Roots of Climate Action Panel,\u201d featuring (Left to Right): Lee Simmons (Seed Commons), Stephanie Guilloud (Project South), Stephanie Brobby (Good Ancestor Movement), Kate B. (Capital J Collective)<\/span><\/i><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content”][et_pb_column _builder_version=”4.23.4″ _module_preset=”default” type=”4_4″ theme_builder_area=”post_content”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

This discussion allowed me to contextualize global finance, explaining that 75% of climate finance is in the form of loans while only 25% is provided in the form of grants. However, loans collect high interest rates and in this stark disparity between loans versus grants, there is an overwhelming burden on the Global South to rely on these loans to adapt to the climate crisis. In fact, the Global South had five times more debt repayments in 2021 than the Global North and these relationships mutually enforce and entrench people further in the system. Justice cannot be developed on the basis of profiteering and capitalist financial structures.<\/span><\/p>\n

How strange is it, that we as people worship our financial markets and its metrics at the expense of human dignity? I have found myself equally guilty of this.\u00a0<\/span><\/p>\n

In response to my real-time existential crisis, while listening to the panel, they offered the audience the spheres of climate finance and how to move forward as a movement:<\/span><\/p>\n

<\/span><\/p>\n

    \n
  1. Cultivate and nourish frontline relationships and accountability.<\/b>\u00a0<\/li>\n<\/ol>\n

    \u201cThe acorn does not know the complexity of the forest.\u201d\u00a0<\/span><\/p>\n

    We are so quick to trust the \u201cfinance people\u201d to set climate targets for us, yet it is people who are on the frontlines that are most attuned to the problem and the solutions. We need to understand that proximity <\/span>is <\/span><\/i>evidence, and to stay in true accountability to movements is to build programs, streams, etc. in harmony with them. You would never try to fix a car with an accountant, you would recruit the mechanic.<\/span><\/p>\n

    <\/span><\/p>\n

      \n
    1. Allow yourself to undergo self-transformation and provide support to those who would like to undergo the same.\u00a0<\/b><\/li>\n<\/ol>\n

      We need to bring people along to the movement. We may not speak the same language, but there is an appetite for change and we need to start educating people in proximity to money, and the impacts of their decisions on how to steward money. Across the country, high net-worth individuals, advisors, accountants, etc. are all struggling with the tensions of their legal obligations and their values. It\u2019s time that we provide hospice to these people and welcome them through education and values alignment. We, as a movement, need to advocate for a revolution both in the mind and the heart, as to move towards collective abundance.<\/span><\/p>\n

      <\/span><\/p>\n

        \n
      1. Invest in resistance.<\/b><\/li>\n<\/ol>\n

        \u201cBe catalytic, not concessionary.\u201d<\/span><\/p>\n

        \u00a0The stakes of not actively protesting and stopping fossil fuel exploration and expansion, and the structures that perpetuate harm are clear. To give an example, in Atlanta, <\/span>organizers protesting towards the building of Cop City<\/span><\/a> and the infringement on Indigenous lands, collected 116,000 signatures for a petition against the project (to compare, the latest mayoral election only fostered 70,000 votes). At the same time, proponents of the project are coming after the frontlines\u2019 ability to participate in political pursuits, going after migrant workers, land defenders, and marginalized peoples.\u00a0<\/span><\/p>\n

        There are many stories that parallel this story, and it\u2019s time for people with deep wallets to realize that if we do not start supporting the resistance work, then our dollars become a vote for maintaining the status quo – and protecting the abusers of power.\u00a0<\/span><\/p>\n

        <\/span><\/p>\n

          \n
        1. Invest in building<\/b><\/li>\n<\/ol>\n

          Movements and organizing often are mislabeled as \u201cscrappy and stupid.\u201d This is not the case as many frontline movements are well-organized, world-building, stable, strong, and strategic. This is a narrative people are told so that the powerful can convince civic society to associate frontline activism with violence and \u201cprimitive\u201d behaviour, so as to diminish the work happening on the frontlines within the grassroots. The political and social infrastructure of social movements are strong, and they are growing – and we need to invest in the sustainability of these strong grassroots movements to scale and catalyze the coalitions that will bring about change.\u00a0<\/span><\/p>\n

          [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/www.theyouthharbour.org\/wp-content\/uploads\/2023\/10\/Breakfast-in-Bryant-Park.jpeg?_t=1704225943″ _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” title_text=”Breakfast in Bryant Park” hover_enabled=”0″ sticky_enabled=”0″ custom_margin=”-18px|||||” width=”50%” module_alignment=”center”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

          Image Description<\/i><\/b>: \u201cBreakfast in Bryant Park with international youth intermediaries including (Left to Right): Majandra Rodriguez Acha (FRIDA Fund), Xiye Bastida (Re-Earth Initiative), Nathan M\u00e9t\u00e9nier & Joshua Amponsem (Youth Climate Justice Fund), Desmond Alugnoa (Green Africa Youth Organization), Kat Cadungog (FES | The Youth Harbour).<\/span><\/i><\/p>\n

          [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content”][et_pb_column _builder_version=”4.23.4″ _module_preset=”default” type=”4_4″ theme_builder_area=”post_content”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

          Towards the end of my time in New York, I spent a lot more time sharing my learnings from this panel and advocating for funding for youth – especially those on the frontlines. I met incredible people at the <\/span>Youth Climate Justice Fund<\/span><\/a> launch, and was excited to see many familiar faces.\u00a0<\/span><\/p>\n

          The next day, I spent time with some incredible re-granters and I\u2019m excited to share\u2026 there are many exciting things to come.\u00a0<\/span><\/p>\n

          \u201cMay we all have ears to hear.\u201d<\/span><\/p>\n

          <\/span><\/p>\n

          This wraps up Kat\u2019s reflections on New York Climate Week 2023! Feel free to stay tuned by subscribing to our newsletter and keeping up to date on our website. Thank you so much for tuning in! <\/i><\/span><\/i><\/span><\/p>\n

          [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_image src=”https:\/\/www.theyouthharbour.org\/wp-content\/uploads\/2023\/10\/Kat-Cadungog-and-Jess-LeBlanc.jpeg?_t=1704226029″ _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” title_text=”Kat Cadungog and Jess LeBlanc” hover_enabled=”0″ sticky_enabled=”0″ custom_margin=”-18px|||||” width=”50%” module_alignment=”center”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” theme_builder_area=”post_content” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

          Image Description<\/i><\/b>: Kat Cadungog and Jess LeBlanc at the Youth Climate Justice Fund launch event, with the Empire State Building in the background<\/span><\/i><\/p>\n

          [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

          In September, FES was at New York Climate Week.<\/p>","protected":false},"author":3,"featured_media":28843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","_et_pb_use_builder":"on","_et_pb_old_content":"\n

          In September, FES was at New York Climate Week. The first of three blog posts sharing Kat\u2019s (Executive Director) and Jess\u2019 (Program Director) experience and reflections at the People\u2019s March, and what it was like being with over 75,000 people on the ground, advocating for climate action.<\/p>\n\n\n\n

          <\/p>\n\n\n\n

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