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The CO2 Coalition is a successor to the George C. Marshall Institute, a think tank focusing on defense and climate issues which closed in 2015. William O'Keefe, a chief executive officer of the Marshall Institute and former CEO of the American Petroleum Institute, continued as CEO of the CO2 Coalition. William Happer, an emeritus professor of physics known for disagreeing with the consensus on climate change, was another CO2 Coalition founder from the Marshall Institute. Happer said the association with climate contrarianism had negatively affected Marshall Institute funding, viz: "Many foundations that would normally have supported defense would not do it because of the Marshall name being associated with climate". The defense activities of the Marshall Institute were moved to the Center for Strategic and International Studies[3][4][5]

In its first four years, the CO2 Coalition received over $1 million in contributions from foundations that support conservative cause and from energy industry officials.[4]

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