October 19, 2021 Read More →

Ford Foundation to divest from coal, oil and natural gas

Associated Press:

The Ford Foundation, one of the largest private foundations in the United States, announced Monday that it will divest millions from fossil fuels, following similar investment decisions made by other sizable foundations in recent years.

For years, climate activists have put pressure on endowed institutions, like Ford, to end their investments in companies involved with producing fossil fuels — coal, oil and natural gas. MacArthur Foundation, another dominant player in the philanthropy world, and Harvard University both announced last month that their institutions would end investments in fossil fuel related companies.

“As with any significant decision in a dynamic organization, this choice did not come without trade-offs,” Ford Foundation President Darren Walker said in a statement posted on the organization’s website.

[Staff Report]

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