Open Society Foundations (OSF), the philanthropic organization established by billionaire investor George Soros, announced a major new commitment on Tuesday, pledging $400 million over eight years to support green economic development. This initiative marks the first significant pledge following a prolonged internal reorganization. Binaifer Nowrojee, the new president of OSF, outlined the investment’s aim to create sustainable jobs and promote clean energy in Brazil, Mexico, South Africa, Senegal, Malaysia, and Indonesia.
Nowrojee emphasized the need for targeted support beyond free markets to address the climate crisis, stating that the foundations will back think tanks, governments, and civil society groups in these middle-income countries. Nowrojee, a Kenyan human rights lawyer with two decades of experience at OSF, has assumed leadership following significant structural changes, including buyouts and layoffs, within the $25 billion philanthropy. OSF, a major supporter of human rights advocates and political dissidents, had largely paused new grants over the past year during its transition to a new operating model.
The reorganization efforts are largely attributed to Alex Soros, George Soros’ son, who became chairman of OSF’s board in December 2022. Grantees whose funding will end have been informed, with OSF providing $300 million in final grants to these organizations. Nowrojee’s announcement reflects OSF’s renewed focus and strategic shift towards sustainable development and climate action in the targeted regions.
