This Insights to Action guide offers solutions at the intersections of financial health and climate change for grantmakers. The actions for philanthropy are grounded in insights from SaverLife, a national nonprofit and advocacy organization, and their research initiative, “The Downpour.” The initiative features climate research based on SaverLife members’ financial data and personal experiences.
How do financial health and climate change intersect to impact people with low-to-moderate incomes? How can philanthropy support informed solutions?
In 2023, SaverLife, a national fintech nonprofit and advocacy organization, published climate research based on members’ financial data and personal experiences as part of its new “The Downpour” initiative. The research illuminates the realities for people with low incomes who are living with persistent financial insecurity that is being exacerbated by the impacts of ongoing climate change. Despite interest in climate resilience strategies, they have little room in their already tight budgets to prepare for weather events and disasters. Those insights help us understand how well existing policies are mitigating the costs and other impacts of climate change and what additional solutions that prioritize the needs and experiences of those most impacted are necessary.
As implored by Leigh Phillips, SaverLife President and CEO, “This is the fight of our lives, and it will take everyone’s participation to create a different outcome: for our families and future generations.” There is opportunity for philanthropy to act on the insights from members of SaveLife’s community with over 600,000 people across the country. Grantmakers from a variety of sectors can support programs, products, and policies that bolster financial security and mitigate the effects of climate change immediately and over the long term.
On March 19th, 2024, AFN held a webinar led by SaverLife, The Downpour: Navigating Chronic Climate Expenses in Households Living with Low-to-Moderate Incomes. Together we:
- Heard the perspectives of someone living on a low-to-moderate income and navigating climate change.
- Learned from grantmakers who are thinking about and investing in solutions at the intersections of financial health and climate change.
- Collectively considered a variety of climate resilience solutions designed with the experiences of people living on low-to-moderate incomes to improve their lives and the future.
SPEAKERS
Paula D’Ambrosa (Moderator), Prudential Financial
Leigh Phillips, SaverLife
Gregory Lopez, Wells Fargo
Alizha, SaverLife Member
