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.
Northwestern is set to eliminate more than 400 staff positions as it continues to grapple with a $790 bill.Indie pop act Del Water Gap announced an upcoming album and performed "How to Live" for the...more
Rapp suggests dividing Jewish education into two tracks: functional academic learning during school hours, and informal, inspirational experiences run by organizations like NCSY afterward."The...more
Holland College's School of Performing Arts (SoPA) has partnered with WAVMAKR to present the Creative Music Workshop Series this August at The Guild.The workshop series offers musicians of all levels...more
A group of Loughborough University students from the School of Architecture, Building and Civil Engineering, recently embarked on an international journey.They exhibited their pavilion 'Strands of...more
The Muckenthaler's Arts Education Department offers classes year-round, including seasonal sessions, weekend workshops, and school-break camps.Classes include the visual arts, ceramics, dance,...more
Alpha School, an "AI-powered" private school, is preparing to make its mark on Charlotte and Raleigh this year.The North Carolina campuses each come with a $45,000 price tag and will offer K-3 for...more
Plastic pollution is projected to triple by 2060, according to the UN Environment Programme (UNEP) UNEP-led talks follow a decision in 2022 by Member States to develop an international legally...more
This piece is part of the weekly series "Growing Forward: Insights for Building Better Food and Agriculture Systems" It's fraught to depend on global supply chains for food security given trade wars,...more
Foundations Launch $50 Million Adaptation and Resilience Fund for Communities Facing Climate Risks.Funding fulfills a $50 million commitment made by philanthropies last year in response to the UN...more
Boosting Canada's agricultural productivity through investment and innovation.Report provides some key recommendations for boosting agricultural investment.Future of Canadian agriculture lies in our...more
Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.