FOOLS AND THEIR MONEY: SMH: Young People Are Pouring Their Money into Climate Charities.

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According to Sydney Morning Herald, climate charity donations are surging, mostly coming from the children of wealthy families.

‘It’s really hard to wait’: Young, rich, and spending heavily to fight climate change

By Michael Koziol
June 27, 2021 — 12.00am

A younger generation of philanthropists is driving a surge in donations to climate change charities, with the country’s biggest environmental advocacy groups almost doubling their revenue in a year.

Analysis by Groundswell Giving and the Australian Environmental Grantmakers Network found the top six environmental charities increased their revenue to $163.5 million in the 2020 financial year, from $93 million the previous year.

Most of this came from bequests and donations. For example, Australian Charities and Not-for-profits Commission records show donations to the World Wide Fund for Nature skyrocketed from $24 million in 2019 to $54 million last year.

Scions of Australia’s wealthiest families are increasingly ploughing their money into climate change prevention as they gain control of, and influence over, family trusts.

One of Australia’s most active young philanthropists is Clare Ainsworth Herschell, following in the footsteps of her father Geoff, the heir to pokies tycoon Len Ainsworth.

Ms Herschell says she had a real-life “come to Jesus” moment while watching the climate change documentary Chasing Ice, which followed nature photographer James Balog around the Arctic. “I was like, ‘oh my gosh, what have I been doing all this time?’.”

Read more: www.smh.com.au/national/it-s-really-hard-to-wait-young-rich-and-spending-heavily-to-fight-climate-change-20210624-p583za.html

 

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