This paper reviews how major U.S. foundations shifted their climate and energy funding strategies after the failure of cap-and-trade legislation. It analyzes grantmaking trends, identifies new areas of influence, and discusses the limitations of narrowly targeted, technocratic philanthropy in addressing complex environmental challenges. The article highlights the adaptive nature of philanthropic funding in response to policy changes and the ongoing search for effective approaches to support climate and energy initiatives, emphasizing a need for broader systemic engagement.
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