New US$50m fund to support communities affected by extreme heat

Five foundations have launched a US$50m Adaptation and Resilience Fund (A&R Fund) to assist people facing the greatest climate risks such as extreme heat, floods, and droughts.

Led by the ClimateWorks Foundation, in partnership with the Howden, Laudes, Quadrature Climate, and Rockefeller foundations, the new fund will drive community resilience in low- and middle-income geographies across the Global South, with projects ranging from early warning systems to innovative financial tools.

Initial grants will be focussed on support efforts to combat extreme heat in urban areas in South Asia, Southeast Asia, and sub-Saharan Africa, as well as strengthen economic stability, workers’ rights, and health outcomes

“Extreme weather events – driven by climate change – are the biggest risk the world faces over the next decade,” said Claire Harbron, CEO of Howden Foundation. “Philanthropy has a critical role to play in supporting those most impacted to access the information and resources that they need to respond.

With more than 2.4 billion people at risk of severe heat every year, philanthropy can act as a critical support for communities facing health and economic impacts. Coming at a time when many interntional donors are slashing their overseas aid budgets, the A&R Fund will help to ensure vulnerable communities are not left behind.

“We can’t win on decarbonisation if we don’t invest in resilience, and yet adaptation remains chronically underfunded,” said Jess Ayers, CEO of Quadrature Climate Foundation. “We are shifting power and resources directly to communities facing extreme heat and other climate shocks. This isn’t just about survival, it’s about catalysing equitable, systems-level change where it’s needed most.”

Jessica Brown, senior director of adaptation and resilience at ClimateWorks Foundation, added: “Adaptation is where local innovation meets global momentum. With bold investments in climate adaptation, philanthropy can help connect the dots to strengthen collaboration, pilot scalable solutions, and build resources for community resilience.

According to ClimateWorks, adaptation remains one of the most underfunded areas of climate action, as public finance flows cover only 10 percent of adaptation costs in low-income countries. Yet, business investments in adaptation and resilience can yield returns ranging from $2 to $42 for every dollar spent, and can help build climate resilience at a local scale with people-centered solutions.

“Investing in climate adaptation is not just a moral imperative, it has clear business benefits,” stated Amol Mehra, director of industry programmes at Laudes Foundation.

“Supporting innovative solutions that strengthen resilience can help address industry challenges, including protecting supply chains, reducing long-term risk, and creating long-term business value,” he added.