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.
Grants For Ice Storm Support Awarded
Foundation: Community Foundation for Northeast Michigan
The Community Foundation for Northeast Michigan has announced the first round of grants from its recently reactivated Urgent Needs Fund.The funding will help provide essentials like food, warmth,...more
Foundation: Community Foundation for Northeast Michigan
The Community Foundation for Northeast Michigan has announced the first round of grants from its recently reactivated Urgent Needs Fund.The funding will help provide essentials like food, warmth,...more
Allegany County Area Foundation Grants Aid Several Organizations
The Allegany County Area Foundation has approved more $15,000 in grants to support several organizations and programs.The following organizations received grants: Salvation Army, Powerhouse Youth...more
The Allegany County Area Foundation has approved more $15,000 in grants to support several organizations and programs.The following organizations received grants: Salvation Army, Powerhouse Youth...more
Harrison County Community Fund to the Rescue!
The Harrison County Community Foundation is a permanent, charitable resource that supports a wide variety of local causes and organizations.The HCCF supports all kinds of civic and charitable...more
The Harrison County Community Foundation is a permanent, charitable resource that supports a wide variety of local causes and organizations.The HCCF supports all kinds of civic and charitable...more
Douglas Esd Uses Grant to Boost Advanced Mental Health Services For Students
Foundation: Oregon Community Foundation
A $10,000 grant has been awarded to the Douglas Education Service District.Douglas ESD will use the grant to purchase iPads and clinical assessment software.The organization says the tools will allow...more
Foundation: Oregon Community Foundation
A $10,000 grant has been awarded to the Douglas Education Service District.Douglas ESD will use the grant to purchase iPads and clinical assessment software.The organization says the tools will allow...more
Inaugural 'Our Community Salutes' Event Honors Students Signing up For Military Service
Foundation: Ashland County Community Foundation
Inaugural 'Our Community Salutes' event honors students signing up for military service.Parker talked to a recruiter and learned about the chance to be a nuclear engineer in the Navy.Report for...more
Foundation: Ashland County Community Foundation
Inaugural 'Our Community Salutes' event honors students signing up for military service.Parker talked to a recruiter and learned about the chance to be a nuclear engineer in the Navy.Report for...more
A Cup of Kindness: Campbell River's Communitea Party Sells Out For A Good Cause
Campbell River's inaugural Spring CommuniTEA Party has sold out just one week after tickets went on sale.Set for May 4 at Stonehouse Teas, a fundraiser will benefit the Campbell River Community...more
Campbell River's inaugural Spring CommuniTEA Party has sold out just one week after tickets went on sale.Set for May 4 at Stonehouse Teas, a fundraiser will benefit the Campbell River Community...more
Foundation to Launch Second Hygiene Fund Drive
Foundation: Community Foundation for South Central New York
Foundation to launch second hygiene fund drive.Community Foundation for South Central New York will launch its second annual Hygiene Fund Drive beginning Tuesday, April 15.The project began last...more
Foundation: Community Foundation for South Central New York
Foundation to launch second hygiene fund drive.Community Foundation for South Central New York will launch its second annual Hygiene Fund Drive beginning Tuesday, April 15.The project began last...more
Taft's Westside Rec and Park District Expands Summer Learning With Elop
Foundation: Kern Community Foundation
The Westside Recreation and Park District's Expanded Learning Opportunities Program (ELOP) is a key part of summer enrichment for students in Taft.ELOP is bringing new STEM, art, and entrepreneurship...more
Foundation: Kern Community Foundation
The Westside Recreation and Park District's Expanded Learning Opportunities Program (ELOP) is a key part of summer enrichment for students in Taft.ELOP is bringing new STEM, art, and entrepreneurship...more
Drew Turner: One Senior's Commitment to Community
Drew Turner is in his first year on the Youth Philanthropy Council (YPC) YPC empowers high school students from all four local school corporations to be changemakers in their communities.YPC members...more
Drew Turner is in his first year on the Youth Philanthropy Council (YPC) YPC empowers high school students from all four local school corporations to be changemakers in their communities.YPC members...more
Key Biscayne Community Programs Announces Open Call to Local Visionaries
Foundation: Key Biscayne Community Foundation
Key Biscayne Community Programs announces open call to local visionaries.Key Biscayners are invited to submit event concepts for funding.The Village is accepting "Letters of Interest" for its...more
Foundation: Key Biscayne Community Foundation
Key Biscayne Community Programs announces open call to local visionaries.Key Biscayners are invited to submit event concepts for funding.The Village is accepting "Letters of Interest" for its...more
Tuesday April 15, 2025
Social Entrepreneurship
Spotlight
Social Enterprises Create ‘Buy Social’ Campaign
Research finds that a great number of social enterprises, businesses with social or environmental goals which reinvest their profits, are trading more with consumers all year round, not just during the holidays.
