Marc and Lynne Benioff, Salesforce Announce $300 Million in Investments to Accelerate Ecosystem Restoration and Climate Justice

Rhea-AI Summary

On October 28, 2021, Marc and Lynne Benioff unveiled $300 million in climate investments aimed at reforestation and restoration. This includes the creation of the $100 million Benioff TIME Tree Fund and a $100 million commitment from TIME Ventures. Salesforce will provide $100 million in grants over 10 years to nonprofits focused on ecosystem restoration and climate justice. With a track record of funding climate initiatives, the Benioffs emphasize urgency in combating climate change, supporting ecopreneurs, and achieving Net Zero by 2040.

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• Total of $300 million committed to climate investments.
• $100 million Benioff TIME Tree Fund launched for forest management.
• Salesforce's commitment of $100 million in grants to nonprofits over 10 years.

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SAN FRANCISCO, Oct. 28, 2021 /PRNewswire/ -- Marc and Lynne Benioff today announced $200 million in new climate investments toward reforestation and restoration efforts—establishing the first-of-its-kind $100 million Benioff TIME Tree Fund and committing $100 million in investments from TIME Ventures, the Benioffs' investment fund.

Salesforce to give $100 million funding in grants over the next 10 years to nonprofits working on ecosystem restoration and climate justice, donate technology through the Power of Us program, and enable volunteers to deliver 2.5 million volunteer hours to organizations focused on climate action.

"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," said Marc Benioff, Chair and CEO, Salesforce. "We need to apply every strategy possible to protect and preserve our planet. We must accelerate the world's largest businesses to Net Zero as part of reducing global emissions by half by 2030; sequester 100 gigatons of carbon through restoring, conserving, and growing 1 trillion trees; and energize an ecopreneur revolution to develop new technologies that will expedite the path to a decarbonized planet. 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."

"What an amazing gift to Planet Earth! By protecting and restoring forests and planting trees, we can help slow down climate change and the loss of biodiversity," said Dr. Jane Goodall, DBE. "We must stop deforestation—especially in tropical regions where old growth forests continue to be threatened by industrial agriculture. We must listen to the wisdom of the indigenous people who have lived in harmony with their forests for generations. We must bring trees into our cities so that people of all incomes can benefit from a green environment."

"We need leaders in every sector of society to stand up and do the right thing for the climate. Youth around the world have been demanding governments and companies drastically reduce carbon emissions, focus on climate restoration, and increase their commitments to the Paris Agreement. We need to see more climate leadership like Marc Benioff and Salesforce, who have already achieved net zero and 100% renewable energy. But there's still more to do. Business leaders have a responsibility to influence other business leaders to take climate action. The future of my generation and the generations that follow depends on it!" said Alexandria Villaseñor, co-founder of U.S. Youth Climate Strike and founder of Earth Uprising.

The Benioff TIME Tree Fund

The Benioff TIME Tree Fund will focus on indigenous and community-based forest management and mitigating the increasing impacts of climate change on the most at-risk communities and natural ecosystems in emerging and developing countries. The Benioff TIME Tree Fund builds on the Benioffs' ongoing efforts to slow the effects of climate change and preserve a better world for future generations. Since 2016, the Benioffs have given $68 million in climate-related grants.

In January 2020, the Benioffs contributed the initial financial support to establish 1t.org, a global movement with the goal to conserve, restore, and grow 1 trillion trees by the end of the decade. In 2016, the Benioffs donated $10 million to the University of California Santa Barbara and founded the Benioff Ocean Initiative, a science-based organization that links changemakers together to bring ocean solutions to life. To date, the Benioff Ocean Initiative has funded dozens of projects, including new technologies that capture plastic in rivers all over the world before that plastic reaches the ocean, and Whale Safe, AI-powered, whale-detection technology that helps ship captains avoid striking and killing whales—and in so doing aids in the fight against climate change.

To ensure the preservation of our oceans, the Benioffs partnered with National Fish and Wildlife Foundation (NFWF) and the National Oceanic and Atmospheric Administration (NOAA) to form the Pacific Islands Research and Conservation program in 2017. They are also founding members of the World Economic Forum (WEF)'s Friends of Ocean Action initiative, providing nearly $11 million in funding through the Benioff Ocean Initiative.

TIME Ventures

Every day, ecopreneurs—entrepreneurs dedicated to protecting the planet—are launching new innovations to reduce emissions, sequester carbon, and repair and protect natural resources. With today's announcement, the Benioffs will commit another $100 million from TIME Ventures to continue to fund the ecopreneur revolution. Since 2014, the Benioffs have invested $100 million in ecopreneurs, including climate-focused startups like DroneSeed, Loam Bio, Mango Materials, NCX, Novoloop, Planet, Terraformation, and others.

Salesforce Climate Action Plan

Salesforce is a Net Zero company across its full value chain and has achieved 100% renewable energy for its operations. The company is a founder of 1t.org and has already funded more than 40 million trees toward its 100 million tree goal, and is a member of the UN's Race to Zero and the UN Decade on Ecosystem Restoration.

Salesforce has been on its sustainability journey for more than a decade. Executing on a comprehensive Climate Action Plan, the company is helping drive toward a 1.5 degree future by focusing on six sustainability priorities: emissions reduction, carbon removal, trillion trees & ecosystem restoration, education & mobilization, innovation, and regulation & policy. As part of Salesforce's Net Zero journey, it is prioritizing reducing emissions as quickly as possible and aligning its own full value chain emissions (Scope 1, 2, and 3) to the global trajectory of ~50% emissions reductions by 2030, and near-zero emissions by 2040.

With its Sustainability Cloud 2.0, Salesforce is supercharging its efforts to help accelerate the world's largest businesses to Net Zero, faster. Sustainability Cloud is designed to help customers track and reduce their emissions and take impactful action on climate.

Salesforce is on an accelerated mission leveraging its full power to create a more sustainable and equitable future for all.

More Information on Salesforce Sustainability Initiatives:

• Salesforce Climate Action Plan
• Salesforce Tree Tracker
• Salesforce Achieves Net Zero Across Its Value Chain and 100% Renewable Energy
• Salesforce, COP 26 Leaders Call for Urgent Action on Climate Change
• Beyond Net Zero: How Nature-Based Solutions Help Tackle the Climate Crisis
• Salesforce at COP26

About Salesforce

Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM." For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

 

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SOURCE Salesforce

FAQ

What is the Benioff TIME Tree Fund announced by Marc and Lynne Benioff?

The Benioff TIME Tree Fund is a $100 million initiative focused on indigenous and community-based forest management to combat climate change.

How much funding is Salesforce committing to climate action?

Salesforce is committing $300 million, which includes grants and investments in climate-related initiatives.

What is the purpose of Salesforce's $100 million in grant funding?

The $100 million in grant funding is aimed at supporting nonprofits working on ecosystem restoration and climate justice.

When was the climate investment announcement made by the Benioffs?

The announcement of the climate investments was made on October 28, 2021.

What are ecopreneurs and how are they related to Salesforce's initiatives?

Ecopreneurs are entrepreneurs focused on environmental protection; Salesforce is investing in ecopreneurs to fund innovations that reduce emissions and restore ecosystems.