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Friday, June 19, 2015

Sierra Club Foundation Makes Significant Investments in Climate Solutions

Joining White House Initiative, Foundation Invests 20% of Endowment - $4M

WASHINGTON, D.C. -- Along with scores of other major institutional investors, and as part of Tuesday’s White House Clean Energy Investment Summit, The Sierra Club Foundation announced that it is investing 20% of its endowment, or $4 million, in the clean energy economy.

“Today, we’re putting our money where our mouth is by investing in the rapidly growing future of clean energy” said Peter Martin, The Sierra Club Foundation Executive Director. “Coal stocks are plummeting and the clean energy economy is expanding rapidly. Given the inherent risk of long term investments in all fossil fuels in a world where the G7 nations just committed to complete decarbonization over the course of the century, we are confident that this new commitment will meet our investment return expectations over the long term. At the same time, our best hope of tackling the climate crisis will be achieved only by transitioning the global economy to a clean energy future that protects workers, our communities and our air and water--and these investments support that core mission directly.”

Tuesday’s White House Clean Energy Summit is designed as a forum for foundations, family offices, and institutional investors to share ideas and insights on scaling private sector investment in solutions to climate change, including innovative technologies to reduce carbon pollution.

For many years, The Sierra Club Foundation has been funding work to shut down dirty power plants, stop the construction of new plants, and reduce dependence on fossil fuels that pollute our air, water and climate through its charitable grant-making. At the same time, the Foundation has funded aggressive advocacy to encourage development of clean energy solutions.

In 2010, the Foundation’s efforts were expanded to include mission-aligned investing and shareholder engagement on issues related to its mission, which led to the decision to become one of the initial signers to the Divest-Invest initiative in 2013.

“While institutional and foundation divestment from fossil fuels is an important step, an even more important need is investment in clean energy, efficiency, and innovative technologies that will contribute to climate solutions” said Martin, “The Sierra Club Foundation has already invested $6 million in clean energy and green bonds. Now, this additional $4 million commitment will go toward more targeted investments that will help accelerate the growth of the clean energy economy.”
About The Sierra Club Foundation
The Sierra Club Foundation is a 501(c)(3) tax-exempt public charity governed by an independent board of directors which promotes efforts to educate and empower people to protect and improve the natural and human environment.

We partner with individual and institutional donors to align financial resources with strategic outcomes, provide flexible funding for innovation, build capacity in the environmental movement, and create partnerships with a broad spectrum of allied organizations around shared values and goals. As the fiscal sponsor of the charitable programs of the Sierra Club, we provide resources to it and other nonprofit organizations to support scientific, educational, literary, organizing, advocacy, and legal programs that further our goals.

1 comment:

Susan Anderson said...

Glad to see it. I'm a huge fan of doing well by doing good, and getting investments out of fossil and into clean energy is a win win win.