Foundation Grants
Community Vital Signs
About Us
Fossil-Fuel Divestment Gains Momentum in Philanthropy
Foundation: MacArthur Foundation, Knight Foundation, Surdna Foundation, Ford Foundation, McKnight Foundation
Two of the world's biggest foundations have decided to get out of the fossil fuel business, the New York Times reports.
The Ford Foundation, which has $16 billion in assets, says it will no longer invest in coal, oil, and gas companies and will shift its investments to "climate-friendly" companies and funds within five years.
The MacArthur Foundation, which has around $20 billion, will do the same within a year.
"We're calling on governments and corporations to act on climate aggressively and commensurate with the science," says a leader of Divest-Invest Philanthropy, which is pushing the philanthropic community to get out of fossil fuel investments.
Both foundations are joining nearly 200 charitable organizations and firms that manage investments for wealthy families that have committed to divest, according to Divest-Invest Philanthropy.
"I'm glad that we were able to finally reconcile our financial imperative with our moral imperative as a foundation," the Ford Foundation's president tells the AP.
But critics say such moves could hurt investment returns and hinder foundations from maintaining their endowments, which are required to pay out only 5% of their assets annually.
"I don't think the Ford Foundation deserves to be congratulated for doing the right thing," a former Wall Street portfolio manager tells the Times.
Read the Entire Article
Selected Foundation News
A customized collection of news from foundations from around the Web.
The government emphasizes innovation, inclusivity, and sustainability as part of its dual strategy the Financial Services Growth and Competitiveness Strategy and the Invest 2035 Industrial...more
Fox School of Business' Innovative Idea Competition welcomes students, faculty, staff and alumni from any of Temple's 17 of the schools and colleges to compete.The competition allows for rising...more
The German Design Graduates (GDG) Talk will explore how design and innovation can help address the challenges posed by extreme temperatures.This project is funded by 'Innovationsforderung Hessen' as...more
We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic.By clicking "Accept All", you consent to our use of cookies.These cookies will only be...more
The government of Colombia, Conservation International and the Green Climate Fund (GCF) announced support for the development of a project to transform water security in the Bogota region.The project...more
Wayne State University to lead USDA grant to support program training students in'smart agriculture' Program will use data to study future of agriculture and train students.Project, "Nonformal...more
A global carbon counting system, where every molecule of CO2 created during the production process is counted and made publicly available, could incentivize companies to invest in cleaner production...more
Maura Healey to launch a new initiative aimed at advancing clean energy and bolstering the workforce in the geothermal energy sector.The Clean Energy and Environment Legacy Transition Initiative...more
Data centers, the backbone of cloud services, are significant energy consumers.In 2023, the market was valued at approximately $25.20 billion and is projected to grow at a compound annual growth rate...more
COP29's Food, Water and Agriculture Day shined light on the transformative power of agrifood systems to drive emissions reductions.The Agri-Food Systems Summit brought together global leaders,...more
Social Entrepreneurship
Spotlight
Change in the World of Work and Enterprise: Get Young People Into Work
The position young people are dealt with can be complex, and yet the entire economic system is still focused for an age that’s almost gone astray. The solution? Promoting social enterprise and getting these young people integrated into work.