This case study examines the contribution of Fondazione Compagnia di San Paolo to Turin’s pathway toward climate neutrality through two complementary initiatives: the CLICC project and the TPL Carbon Free Innovation Center. Together, these initiatives illustrate how philanthropy can operate both as a builder of systemic urban capacities and as an accelerator of sector-specific innovation. Rather than acting solely as a source of funding, the foundation plays a strategic role in strengthening governance, enabling experimentation and fostering collaboration across institutional and sectoral boundaries. Through CLICC, the foundation supports the development of analytical infrastructure that enhances the city’s capacity to design, assess and monitor climate and energy policies using data-driven tools. In parallel, the TPL Carbon Free Innovation Center focuses on the decarbonisation of public transport, translating climate ambition into operational projects and applied research.