*** MEDIA ADVISORY ***Foundations to announce Divest-Invest Philanthropy via press conference call on January 30, 2014WASHINGTON, 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 FundOlivia Farr, Board Chair, The John Merck FundRichard Woo, Chief Executive Officer, The Russell Family FoundationTom Van Dyck, Investment consultant to the Educational Foundation of America and the Park Foundation, IncWhat: Conference call with Divest-Invest Philanthropy signatories and investment expertsWhere: 800-895-0198; ACCESS ID: "INVEST"When: Thursday, January 30, 20141:00 pm EST / 10:00 am PSTRSVP: Please RSVP to Nick@fenton.com
When we see records being broken and unprecedented events such as this, the onus is on those who deny any connection to climate change to prove their case. Global warming has fundamentally altered the background conditions that give rise to all weather. In the strictest sense, all weather is now connected to climate change. Kevin Trenberth HIT THE PAGE DOWN KEY TO SEE THE POSTS Now at 8,800+ articles. HIT THE PAGE DOWN KEY TO SEE THE POSTS
"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.
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