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The royal family

Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets

78 replies

My2cents1975 · 05/11/2025 18:43

500 Global is a multi-stage venture capital firm with $2.1B in assets under management (as of March 31, 2025) that invests in founders building fast-growing technology companies.

This is a fantastic story where entrepreneurs creating innovation to address climate challenges while maintaining quality of life can access material funding and back-office expertise to rapidly commercialise these ideas.

Prince William and the Earthshot team deserve massive credit for this win.

The Earthshot Prize and 500 Global Announce Strategic Partnership

OP posts:
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My2cents1975 · 08/11/2025 17:45

QuenchedSquirrel · 08/11/2025 15:08

It seems to be beneficial. However, where are the winners?

This isn't William's fault I don't think, but so far all I've seen is a glitzy ceremony with Kylie Minogue and other famous people, but nothing of the winners receiving a token prize or envelope or whatever. Were they not there or something? It just seems odd that nothing much seems to have been made of their achievements in the media, but loads of pics about the stars who were there.

Plus William recreating a photo of his mum.

I agree with you that the coverage of Earthshot has been abysmal. Take the Guardian newspaper for example...zero coverage. IMHO, this editorial choice denigrates the intellect of their core readership...people can still be pro-republic and admire Earthshot initiatives.

I also think that a lot of countries that host the royals like the continuity of having the next generation royals photographed at similar landmarks as previous generations. And Diana draws clicks so having her in name in the headlines drives viewership and thus revenue as previous posters have pointed out.

OP posts:
CathyorClaire · 08/11/2025 20:00

I'd like to think it's a great initiative. My sceptical nature makes me want to call bullshit though.

You're probably right given what experts in the climate change fundraising field have said.

I've posted these links before but they're worth dusting off:

https://archive.ph/AIg5V

https://archive.ph/uyPBi

Baital · 08/11/2025 23:03

There will always be people who criticise, whatever you do.

I help run the 'Friends' group of my local.park, and whenever we do anything there will be someone posting that we should have done something else.

Get funding to repair a path? We should have first repaired the path on the other side.

Planted some trees? The trees were the wrong variety, or should have been planted in a different place.

Needless to say, the critics never turn up to help, or fundraise to implement their own ideas. Just criticise what those of us who make the effort do.

Baital · 08/11/2025 23:04

Oh, and the perennial 'the Council should do it'. Although they also complain about the level.of Council Tax...

bluegreygreen · 08/11/2025 23:23

Hmm.

A Californian who writes for the Guardian doesn't like Earthshot because he thinks the backers aren't spending enough.

He wrote a series of 3 articles to say so, around the time of Earthshot 2024 (two before, one just after the award ceremony).

In his first article (03/10/24) he says 'As a reporter, I’d normally call a few backers and ask, but there’s just too little money involved to make it worthwhile.'
He continues to complain about how small the prize pool is, saying the backers should 'do the decent thing' and '[add] a couple zeroes to the total'.

He does acknowledge that 'some of its backers are among the most serious and high-spending climate donors of their class. Gates and Bloomberg, for instance, have put more money into climate over the years than just about any other living billionaires' yet despite declaring himself 'mystified as to everyone’s motivations' he lacks the professional curiosity to ask why they are doing something different this time, and what they expect the outcome to be.

There was no discussion of award nominees (realising this is coming up to Earthshot 2024).

His second article (10/10/24) https://archive.ph/28Orb is a direct comparison of Earthshot with 5 other large environmental prizes. The comparison is a straightforward 'dollars per funder' one. He points out that Earthshot provides less money per backer to the winners than any of the other named prizes.

Again, there is no suggestion of curiosity about why this might be the case. There is also no mention of the award nominees or previous winners. There is some discussion of previous nominees/winners of the Goldman Prize and Climate Breakthrough.

For his third article (14/11/24), he's decided to ask 'roughly two dozen current and former environmental grantmakers, philanthropic practice experts and environmental advocates' not involved with Earthshot what they thought about it. He also had by now decided it might be a good idea to contact Earthshot staff (after 2 negative articles!) - for some reason they weren't answering his emails.

The general theme of the discussion is the same as the other two. There are some useful comments around the role of prizes/competitions in raising public awareness and highlighting ideas - but also a mention of prize fatigue. Earthshot's role in supporting innovation is recognised. There are several comments about it not being funded at a level that people would expect - and a final sentence suggestion that if a billionaire was doing this they should look at what else they could do instead.

The one interesting comment for me was by the expert who looked at the list of Earthshot winners and pointed out that “They’re not the sort of ones that, like, when you go to climate funder meetings, everybody’s talking about...If these are awesome things, the recognition this gives could be a huge boost.” So maybe they are doing something different?

Once again, none of the Earthshot winners is mentioned.

I don't have a business background, so can't critique the financial aspect. I do know that if I presented an argument like this in my work I would be taken apart by colleagues. It may be these are only opinion pieces, and he can write what he likes as long as he follows the guidelines of the publication (Inside Philanthropy). I'm just left with a lot of questions.

BeeWitchy · 09/11/2025 00:57

The second article you provided @CathyorClaire is quite damning

“Rhianna gave nearly three times more to climate groups in 2022 than Earthshot’s total annual prize pool. And she did it on her own.”

I wonder what year they are in now? Moonshot was 10 years and Earthshot aimed for the same 10 year period.

A whole bunch of billionaires are involved - and such a comparatively small prize pool.

They’ve given it a rather grandiose name for such a relatively small venture. I guess every little bit counts.

Coolasfeck · 09/11/2025 07:34

I read the Businesswire link in the OP and it reads like an advertorial. A lot of promises around strategy and tech.

Surely it would be better to go for a headline when they award a prize to someone delivering something genuinely transformative e.g a way to make the Sahara desert green which this venture capital firm will fully fund - it would then make headline around the world rather than just an advertorial in Businesswire.

I always get suspicious when promises are ‘announced’ at glitzy affairs. My line of work means I see a lot of this type of stuff - the proof will come once the showbiz event is over and the weekend have gone home to see if anything genuinely impactful happens.

Also with the list of backers I saw on the website, I would expect more. It all feels like just giving VIPs something to do.

Spectre8 · 09/11/2025 07:42

Baital · 08/11/2025 23:03

There will always be people who criticise, whatever you do.

I help run the 'Friends' group of my local.park, and whenever we do anything there will be someone posting that we should have done something else.

Get funding to repair a path? We should have first repaired the path on the other side.

Planted some trees? The trees were the wrong variety, or should have been planted in a different place.

Needless to say, the critics never turn up to help, or fundraise to implement their own ideas. Just criticise what those of us who make the effort do.

Ironic you say that last sentence as you are more than happy to criticise other people for what they do...would of thought having experienced it yourself you wouldn't want to do that to other people but 💁‍♀️

Serenster · 09/11/2025 08:43

Plus William recreating a photo of his mum.

William has photo taken at the iconic photo location of Rio De Janeiro, I think you mean. You could also have said “William visits the location the Brazilians recently lit up in tribute to his grandmother”…

BeeWitchy · 09/11/2025 09:00

Yes you could say it’s a photo of William at the spot the city lit up for his grandmother.

However William is posed just like his mother was. And there’s another shot of him looking over the city. Again, posed just like his mother. Which I don’t find to be a problem in any way. Both Diana’s sons seem to do it.

I don’t think there’s any point in looking for another reason why he’s photographed where he is, posing like he is.

upinaballoon · 09/11/2025 09:11

Spectre8 · 09/11/2025 07:42

Ironic you say that last sentence as you are more than happy to criticise other people for what they do...would of thought having experienced it yourself you wouldn't want to do that to other people but 💁‍♀️

I of, you of, he,she,it ofs, we of, you of, they of.

Baital · 09/11/2025 09:33

Spectre8 · 09/11/2025 07:42

Ironic you say that last sentence as you are more than happy to criticise other people for what they do...would of thought having experienced it yourself you wouldn't want to do that to other people but 💁‍♀️

? I have no problem with people choosing not to spend their time on whatever activities the Friends group are doing.

I do find it odd when people who aren't interested in getting involved take the time and trouble to post online to complain about what we have chosen to work on, and tell us we should have worked on something else...

But then I find the effort you put in here criticising other posters a bit odd too!

CathyorClaire · 09/11/2025 09:54

I don't have a business background, so can't critique the financial aspect. I do know that if I presented an argument like this in my work I would be taken apart by colleagues. It may be these are only opinion pieces, and he can write what he likes as long as he follows the guidelines of the publication (Inside Philanthropy). I'm just left with a lot of questions.

I can't comment on why your colleagues might take a coherent, well researched argument apart but in regard to the financials it's documented in Earthshot's own accounts that it is spending many more millions on costs than it is awarding in prizes which might be where questions are better directed.

Tha last accounts show staff costs alone approaching £4m.

bluegreygreen · 09/11/2025 10:52

I will look at the accounts at some point (can't do it today).

Putting aside any differences of opinion - if you knew a couple of billionaires who had historically given millions to environmental projects were involved with something that on the surface seemed to be worth much less, would you not wonder why and want to ask them about it? Wonder what their reasoning was and what they thought would happen?

BitOutOfPractice · 09/11/2025 10:56

Is that you William? 😂

QuenchedSquirrel · 09/11/2025 13:09

Here are the latest accounts etc.r

https://share.google/143JNeao4E5EJmrJX

QuenchedSquirrel · 09/11/2025 13:11

First image from HMRC website. Second is a breakdown from the annual report on expenditure.

Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
QuenchedSquirrel · 09/11/2025 13:19

This is a breakdown of income/expenditure.

Prize money is about a third of the charitable activity expenditure. The other two thirds is support costs, and costs incurred "in furtherance of its charitable objectives" (from the note posted previously from the report).

Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
Serenster · 09/11/2025 14:34

The “costs incurred in furtherance of its charitable investments” will include the osts of the support given to prize winners and nominees, including its Fellowship programme (which was delivered at a cost of £4m in 2024) and initiatives like bringing the Earthshot cohort to London Climate Action week to network and look for growth and investment opportunities.

The 2024/2025 report states that the value of the organisation’s activities has generated £83.5m in investment, grant funding and commercial deals (in addition to the support of the Earthshot Fellowship) -see screenshots of the report below.

CathyorClaire - you state repeatedly on threads on this topic that Earthshot incurs considerably more in costs than the £5m annual prizes it awards. Each time I have pointed out the other activities the organisation undertakes to support its prize winners (it is very much not a “here’s your prize, now go away” model) but you keep reposting he same criticism. It would be interesting to know why you disregard the evidence given of what else Earthshot spends its money on and just repeat the same criticism?

Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
QuenchedSquirrel · 09/11/2025 15:18

Thanks very much @Serenster 😊

Tomselleckhaskindeyes · 09/11/2025 15:29

I think it's a great innovation and i commend him for it. It's a bit like Prince Albert and the Crystal Palace. He's using his soft power for good.

CathyorClaire · 09/11/2025 20:03

CathyorClaire - you state repeatedly on threads on this topic that Earthshot incurs considerably more in costs than the £5m annual prizes it awards. Each time I have pointed out the other activities the organisation undertakes to support its prize winners (it is very much not a “here’s your prize, now go away” model) but you keep reposting he same criticism. It would be interesting to know why you disregard the evidence given of what else Earthshot spends its money on and just repeat the same criticism?

Because as you've pointed out in your post and shown in your screenshots (from the Impact Report?) it's not spending its own donated funds on direct support.

It may offer limited financial support to prizewinners but its primary purpose is to act as a facilitator matching prizewinners (and now presumably runners up as per the subject of this thread) with third party resources and investment.

Which doesn't answer the question of where the donated dosh is going.

Serenster · 09/11/2025 20:47

Because as you've pointed out in your post and shown in your screenshots (from the Impact Report?) it's not spending its own donated funds on direct support.

It is though. The screenshots (from the 2024/2025 Trustees’ annual report and accounts) have an example: in 2024 Earthshot bought the full fellowship to London for Climate Action week. The annual report also talks of another week held in New York for Climate Week, attended by the 2023 and 2024 Finalists. Earthshot sun he’d a series of YouTube films about the finalists at the same time. Then there was the activities surrounding the prize ceremony Cape Town.

All of these are detailed in the annual report, along with the financial statements showing of the £24.9m spent by Earthshot in the financial year, 90% of it (£22.3m) related to charitable activities. The notes to the (independently audited) financial statements shows the money spent on direct support to the prize cohorts (£13.7m in the 2025 year, 12m in 2024). And the report text points to plenty of activities and achievements to show what they have spent the donated funds on.

https://earthshotprize.org/wp-content/uploads/2025/08/The-Earthshot-Prize-Trustee-Financial-Report-2024.pdf

Prince William's Earthshot Prize and Venture Capital Firm 500 Global Announce Strategic Partnership to Advance Climate Innovation in Emerging Markets
CathyorClaire · 09/11/2025 21:30

Serenster · 09/11/2025 20:47

Because as you've pointed out in your post and shown in your screenshots (from the Impact Report?) it's not spending its own donated funds on direct support.

It is though. The screenshots (from the 2024/2025 Trustees’ annual report and accounts) have an example: in 2024 Earthshot bought the full fellowship to London for Climate Action week. The annual report also talks of another week held in New York for Climate Week, attended by the 2023 and 2024 Finalists. Earthshot sun he’d a series of YouTube films about the finalists at the same time. Then there was the activities surrounding the prize ceremony Cape Town.

All of these are detailed in the annual report, along with the financial statements showing of the £24.9m spent by Earthshot in the financial year, 90% of it (£22.3m) related to charitable activities. The notes to the (independently audited) financial statements shows the money spent on direct support to the prize cohorts (£13.7m in the 2025 year, 12m in 2024). And the report text points to plenty of activities and achievements to show what they have spent the donated funds on.

https://earthshotprize.org/wp-content/uploads/2025/08/The-Earthshot-Prize-Trustee-Financial-Report-2024.pdf

So. A cool £13.7m on two or three jollies, a YT smoke blowing and no real evidence of direct grass roots cold hard cash support other than providing undetailed 'platform' costs whatever that might mean?

'Charitable activities' covers a lot of ground without a detailed breakdown.

Spectre8 · 09/11/2025 21:44

Smoke and mirrors after a what cna we expect this is his modus operaii when it comes to finances...no transparency