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Friday, January 24, 2014

COALITION OF FOUNDATIONS TO DIVEST FROM FOSSIL FUEL COMPANIES AND INVEST IN CLEAN ENERGY

*** MEDIA ADVISORY ***
Foundations to announce Divest-Invest Philanthropy via press conference call on January 30, 2014
WASHINGTON, DC – A coalition of foundations will hold a press conference call on Jan. 30 at 1 p.m. EST to announce Divest-Invest Philanthropy, an initiative to divest assets from fossil fuel companies and invest in the clean energy economy. Members of Divest-Invest Philanthropy will discuss their motives for taking this historic step and challenge other philanthropies to consider the financial and ethical risks of remaining invested in fossil fuels. The climate science is clear that the window to preserve a livable climate is closing fast, and fiduciary duty compels philanthropy to protect endowments from this risk.
Who:                Ellen Dorsey, Executive Director, Wallace Global Fund
                        Olivia Farr, Board Chair, The John Merck Fund
                        Richard Woo, Chief Executive Officer, The Russell Family Foundation
                        Tom Van Dyck, Investment consultant to the Educational Foundation of America and the Park Foundation, Inc
What:              Conference call with Divest-Invest Philanthropy signatories and investment experts
Where:            800-895-0198; ACCESS ID: "INVEST"
When:              Thursday, January 30, 2014
                        1:00 pm EST / 10:00 am PST
RSVP:              Please RSVP to Nick@fenton.com
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1 comment:

climatehawk1 said...

"The climate science is clear that the window to preserve a livable climate is closing fast, and fiduciary duty compels philanthropy to protect endowments from this risk." Hmm, interesting that this fiduciary duty does not appear to apply to the endowments of, e.g., Harvard, Haverford, Brown, Middlebury, and other supposedly prestigious colleges and universities that have elected to weasel on this issue. I wonder why, and whether the trustees will ultimately be liable for failing in their fiduciary duty. Here's hoping.

January 24, 2014 at 4:41 PM

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