The chapter looks at how, over the course of the 1990s and in response to a shifting political context, a group of prominent climate funders adopted a more focused and strategic approach to grantmaking. While staying true to the core principles of liberal philanthropy, this new approach combined collaborative, proactive, outcome-oriented and evaluation-driven grantmaking methods with a pro-business, market-centred and bottom-up understanding of social change. By the mid-2000s, its core elements came to form the basis of a new approach to international climate philanthropy, bolstering foundation involvement in the international climate arena in the process. On the back of the Design to Win report (2007), a group of large liberal foundations proceeded to align their strategies and pool resources through common initiatives and projects, and most notable the creation of the ClimateWorks Foundation.