Divesting from fossil fuel and investing in clean energy is not only good for the planet, but good for the pocketbook. Big names in government, education, philanthropy, religion, wealth and money management have jumped on the band wagon. The White House has been promoting the investing side and held a roundtable on positive impact investing in June with some important players.
The Rockefeller Brothers Fund confirmed their support by announcing the fund would dedicate 10% of its $840 million endowment to investments that generate both financial return and social or environmental impact. They’ve stated the “criteria for their investments will initially prioritize support for clean energy, in an effort to identify businesses positioned to become a part of the worldwide shift to improve energy efficiency, decrease dependence on fossil fuels, and mitigate the effects of climate change. Investments supporting the balance of the Fund’s programmatic priorities of democratic practice, peace building, and those areas designated as RBF pivotal places, will also be incorporated with this proactive commitment”. They join with the administration and 20 new private sector promises to move $1.5 billion into these types of investments.
Divesting from fossil fuel is the other half of the equation. As 350.org puts it, “It’s wrong to profit from wrecking the climate. It’s time to divest from fossil fuels.” They’ve developed targeted divestment strategies for colleges, city or state governments, religious institutions and individuals with strong results. There is even an “other” category. Go fossil free!
http://gofossilfree.org/
http://www.rbf.org/post/rockefeller-brothers-fund-joins-white-house-impact-investment-efforts