The McKnight Foundation is teaming up with other major foundations to work on climate change policy, and giving $100 million to the effort.
McKnight and other philanthropies have set up an umbrella organization called the ClimateWorks Foundation. It funnels money to groups working to change government policies in the U.S., Europe, China, and India -- the world's major greenhouse gas emitters.
McKnight's president Kate Wolford says the new foundation will work on a scale that can make a difference in efforts to cut greenhouse gas emissions.
"An example of that would be low carbon fuel standards," said Wolford. "If we get that policy in place on a national level, it really shifts how the market responds and brings to scale a significant solution to this problem."
McKnight's President, Kate Wolford, says it will promote policies like a cap-and-trade program for carbon, and stronger rules on energy efficiency.
"Higher standards for appliances, better building codes. There's so much energy wasted, and obviously any energy we save is energy we don't have to produce," said Wolford.
McKnight will give $100 million over the next five years to the effort -- that's one-fifth of its annual giving.