Mitigating and adapting to climate change is a vital challenge that cannot rely solely on technology or macro policies but need also be tailored to local social and ecological contexts. As theory suggests, institutional designs that increase collective climate action could potentially speed up climate action in society. In this article we explore the concept of ‘community climate commons’ (CCCs) to foster interconnected and holistic approaches involving citizens and civil society in addressing climate change. Based on a systematic literature review, the aim is to further develop the concept of CCCs and to identify key features for the successful establishment of CCCs for the promotion of collective climate action. The results identify four key features for CCCs: (1) democratic organization with transformative leadership, (2) small group sizes with clear boundaries and existing rules‐in‐use for participation, (3) access to organizational structures, meeting places, social capital, collective identity, and social cohesion, and (4) external financial, political, and social support. In conclusion, CCCs have a real potential to foster a wider societal mobilization of collective climate action while simultaneously addressing other issues of concern in local communities.