Bezos, Ikea and Rockefeller Promise Billions for Climate (1)

Global philanthropies dug into their pockets to make a big statement on the first full day of the United Nations climate conference.

The Rockefeller and Ikea foundations on Monday announced plans to create a Global Energy Alliance for People and Planet that will enable rich governments — as well as rich people — to make incremental, efficient donations toward the energy transition in poorer nations.

The organization, which also includes eight multilateral and development-finance institutions, will start with $10 billion to test strategies and innovative technologies to support renewable energy across the globe, especially in areas where private capital is still hesitating. Once prototypes are proven, the hope ...