Salesforce launches new natural climate solutions, $100 million grants to non-profits
Marc Benioff, Chair and CEO of CRM solutions provider Salesforce, and his wife Lynne, announced today $200 million of climate investments, targeting reforestation and restoration initiatives. The investments include $100 million for the establishment of the Benioff TIME Tree Fund, and $100 million from Benioff’s investment fund TIME Ventures to support climate solutions-focused entrepreneurs.
Marc Benioff said:
“We’re in a planetary emergency—a climate crisis that impacts everyone, especially for the most vulnerable among us. More than half of global GDP is exposed to risk from the nature loss effects of climate change. And it will only get worse unless we collectively take bold steps now to limit global warming.”
The new Benioff TIME Tree fund will focus on indigenous and community-based forest management, as well as on mitigating the impacts of climate change on the most at-risk communities and natural ecosystems in emerging and developing countries. TIME Ventures invests in “ecopreneurs,” targeting innovations to reduce emissions, sequester carbon, and repair and protect natural resources.
“Every country, company, community, and person has a responsibility to act now—the cost of failing to address this global threat will be catastrophic. Our generation will be judged by the actions we take on climate change today.”
In addition to the Benioffs’ announcement, Salesforce unveiled the release of two new natural climate solutions, including a global tree equity – referring to initiatives to ensure the health, climate, and economic benefits of having enough trees and green canopy in a specific area – and urban reforestation initiatives, and a blue carbon program to protect and restore oceans and coastal ecosystems.
Suzanne DiBianca, EVP Corporate Relations and Chief Impact Officer, Salesforce, said:
“Trees are one of the most powerful green infrastructure solutions we have to fight climate change, advance equity, and create tangible benefits for all people. We’re proud to apply our resources to make cities greener and healthier for vulnerable communities around the world, help reduce absolute emissions, and support ecopreneurs who are creating innovative solutions to advance climate justice.”
Salesforce also announced that it will contribute $100 million over ten years to support nonprofits working on ecosystem restoration and climate justice, in addition to initiatives to donate technology and provide 2.5 million volunteer hours to climate action-focused organizations.