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103 posts categorized "Climate Change"

Grassroots Activism Is the Key to Transitioning America From Coal to Clean Energy

July 22, 2015

News_coal_power_plant_for_PhilanTopicWhen business reporters, industry leaders, and analysts claim "market forces" on Wall Street are behind coal's decline, they're getting it only half right. The most powerful forces driving this transition are the national network of grassroots activists and growing coalition of more than one hundred allied organizations working for a clean-energy future. All across the nation, empowered communities are defending their right to clean air, clean water, and a strong economy.

Over the past decade, health advocates, environmentalists, and community leaders have broken coal's hold on electricity production in the United States by organizing local grassroots campaigns backed by strategic litigation. After watching generations of families suffer the health impacts of coal burning, people all over the nation are taking to the streets to stand up to Big Coal. In fact, this movement recently celebrated a huge milestone when we announced the retirement of the two hundredth U.S. coal plant since 2010.

Two of the people fighting back are Wally and Clint McRae, a father and son who have fought for thirty years to protect their Montana cattle ranch from a proposed coal train that would cut right through their land. The McRaes have been active for decades in their local community, but with the support of Sierra Club's Beyond Coal campaign, they were able to bring their message to a national stage.

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Climate Action: A Catalyst for Change

June 17, 2015

Take_action-580x386The coming months promise to be the most hopeful yet in our long fight against global climate change.

President Obama is moving forward with a plan to clean up dirty power plants. The Clean Power Plan will do more to cut the dangerous carbon pollution that's driving climate chaos than any single step ever taken, and it will also spur tremendous innovation and create tens of thousands of clean energy jobs.

Elsewhere, Pope Francis is poised to issue a papal encyclical on our collective moral obligation to protect future generations from the dangers of climate change. And more than a hundred and ninety world leaders will gather in Paris later this year with the goal of taking concerted action to confront the climate crisis. In doing so, they will also be creating a more equitable, just, and sustainable future for our children, grandchildren, and great-grandchildren.

And yet, powerful forces, most notably the fossil fuel industry and its political allies, are prepared to do everything they can to derail this progress. Theirs is a simple agenda: put fossil fuel profits first — even if it puts the rest of us at risk.

In the two-year run-up to the midterm elections last November, the fossil fuel industry spent more than $720 million to support its agenda and its allies in Congress. They seem to be getting their money's worth. Republican leaders in the House and Senate have been pushing legislation meant to block the Clean Power Plan, while offering no alternative of their own to address climate change.

We can't let them get away with it.

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Weekend Link Roundup (May 30-31, 2015)

May 31, 2015

Seppblatter_lipssealedAfter a hiatus for college graduations on consecutive weekends, the weekend crew is back with its roundup of noteworthy items from and about the social sectorFor more links to great content from and about the social sector, follow us on Twitter at @pndblog....

Civic Tech

In a guest post on Beth Kanter's blog, Anne Whatley, a consultant with Network Impact, shares key takeaways from a new guide that provides metrics and methods for measuring the success of your civic tech initiatives.

Climate Change

"The war on coal is not just political rhetoric, or a paranoid fantasy concocted by rapacious polluters. It's real and it's relentless." writes Michael Grunwald in Politico. Driven by a team of nearly two hundred litigators and organizers, deep-pocketed donors like Michael Bloomberg, and "unlikely allies from the business world," the Beyond Coal campaign over the past five years "has killed a coal-fired power plant every ten days...[and] quietly transformed the U.S. electric grid and the global climate debate."

Community Improvement/Development

In remarks at the Mackinac Policy Conference of the Detroit Regional Chamber of Commerce last week, Kresge Foundation president Rip Rapson outlined six areas where Kresge is likely to make future investments in Detroit.

Diversity 

On the Markets for Good blog, Kelly Brown, director of the D5 Coalition, argues that philanthropy can lean learn lessons from the business sector about the link between diversity and success.

Fundraising

Telling your nonprofit's story so it resonates with donors and other stakeholders is easier than you might think, Network for Good's Iris Sutcliffe writes, if you keep the five Cs in mind.

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Weekend Link Roundup (May 9-10, 2015)

May 10, 2015

TulipsOur weekly roundup of noteworthy items from and about the social sectorFor more links to great content from and about the social sector, follow us on Twitter at @pndblog....

Climate Change

According to a report from the Asian Development Bank, the battle against climate change is likely to be won or lost in Asia's expanding megacities, which are poised to contribute more than half the rise in global greenhouse gas emissions over the next twenty years.

In a Q&A with the Nature Conservancy's Mark Tercek, Jerry Taylor, of the Niskanen Center, makes the conservative case for a tax on carbon tax. 

Corporate Philanthropy

On the Tech Crunch site, Kim-Mai Cutler reports on Salesforce Foundation head Suzanne DiBianca's efforts to spread the San Francisco-based cloud-based computing company's "1-1-1" philanthropic model" -- in which 1 percent of the company’s equity is set aside for philanthropic donations, 1 percent of employee time is earmarked for volunteering, and 1 percent of its products and services are donated to nonprofits -- to the tech startup scene in New York City.

Data Visualization

On the Fast.co Design site, Mark Wilson, founder of Philanthroper.com, reports  that the days of the truly creative infographic are over, killed -- like so much else -- by the smartphone, which now accounts for roughly 50 percent of the traffic on the World Wide Web.

Disaster Relief

Be sure to check out the report in The New Yorker by Prasant Jha, an associate editor at the Hindustan Times and a visiting fellow at the Center for the Advanced Study of India at the University of Pennsylvania, on the scale of the devastation in and around Kathmandu, the sprawling capital city of Nepal, which was struck by a magnitude 7.8 earthquake on April 25.  Elsewhere, the Asian Philanthropy Forum shares some helpful advice and a list of NGOs currently on the ground in Nepal, which will be dealing with the consequences of the disaster for weeks, months, and years to come.

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Most Popular PhilanTopic Posts (April 2015)

May 02, 2015

PhilanTopic hosted lots of great content in April, including opinion pieces by Risa Lavizzo-Mourey, president and CEO of the Robert Wood Johnson Foundation; Tonya Allen, president and CEO of the Skillman Foundation in Detroit; and Peter Sloane, chairman and CEO of the New York City-based Heckscher Foundation for Children; Q&As with Bill McKibben, co-founder of 350.org; Karen McNeil-Miller, president of the Kate B. Reynolds Charitable Trust in North Carolina; and Judith Shapiro, president of the New York City-based Teagle Foundation; a terrific book review from the formidable Joanne Barkan; thought-provoking posts from regular contributors Mark Rosenman and Derrick Feldmann; and a great Storify assembled by our own Lauren Brathwaite. But don't take our word for it...

What have you read/watched/listened to lately that made you think? Share your finds in the comments section below, or drop us a line at mfn@foundationcenter.org.

5 Questions for…Bill McKibben, Co-Founder, 350.org

April 17, 2015

Forty-five years after the first Earth Day in 1970, efforts to reduce greenhouse gas emissions have stalled and the planet faces the potentially devastating effects of accelerating climate change. At the same time, calls for educational and philanthropic institutions to rid themselves of investments in fossil fuel companies have gotten louder and a grassroots divestment movement has emerged from college campuses across the country.

PND asked noted environmental activist and author Bill McKibben about the impact of the fossil fuel divestment movement, the role of philanthropy in the fight against climate change, and the prospect that something meaningful will come out of the United Nations Climate Change Conference in Paris later this year.

Bill_mckibben_for_PhilanTopicPhilanthropy News Digest: The name of the organization you co-founded, 350.org, refers to the goal of reducing the amount of carbon dioxide in the atmosphere from the current level of 400 parts per million to 350 ppm — a level, according to climatologist James Hansen and others, that is necessary to preserve conditions on Earth similar to those which prevailed as humans evolved and flourished. Where do things stand as of 2015? And do we have any chance of meeting the 350 ppm target?

Bill McKibben: Where we stand is the CO2 level in the atmosphere climbs 2 ppm annually — and the Arctic and the Antarctic are dealing with preposterous changes that even the most pessimistic scientists thought would take many decades to arrive, oceans are acidifying, and the cycle of floods and droughts is deepening. If we managed to get off fossil fuels with great haste — if we worked at the outer edge of the possible — then by 2100 forests and oceans would have sucked up enough carbon that we'd be moving back toward 350 ppm. Much damage would be done in the meantime, but perhaps not civilizational-scale damage. But that window is small, and closing.

PND: 350.org’s Fossil Free campaign aims to convince educational and religious institutions, governments, and other organizations that serve the public good to divest their investment portfolios of fossil fuel companies. One frequently heard criticism of the campaign is that it is trying to put out a fire with a garden hose. That is, getting a few dozen or hundred institutional investors to divest their portfolios of fossil fuels will have no measurable impact on the activities of large energy companies — or on other investors who may see an opportunity as those stocks are sold. What’s wrong with that argument?

BM: If it was all anyone was doing, it would not be enough, not even close. Of course, we're also fighting against new pipelines and coal mines, and for the rapid spread of renewable energy. But divestment is one of the things that knits it together — it's been the vehicle for spreading the news that these companies have four times the carbon in their reserves than any scientist thinks we can safely burn. That's why everyone, up to the president of the World Bank, has hailed divestment as a crucial part of the fight.

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Weekend Link Roundup (March 21-22, 2015)

March 22, 2015

Think_springOur weekly roundup of noteworthy items from and about the social sectorFor more links to great content from and about the social sector, follow us on Twitter at @pndblog....

Climate Change

Cold winter, wasn't it? Well, yes, if you were on the East Coast of the United States. Not so much everywhere else.

According to Equities.com, the Guardian has launched a campaign to encourage the Bill & Melinda Gates Foundation and the UK-based Wellcome Trust, the two largest funders of nongovernmental medical and scientific research in the world, to divest their portfolios of investments in fossil fuel companies. "We have to confront our own inconsistencies," said Professor Chris Rapley, former director of the Science Museum in London. "Either [Gates and the Trust] accept the argument that we need to wean ourselves off fossil fuels or they don't. It's highly symbolic when charities like this make a stand."

Education

On the Gates Foundation's Impatient Optimists blog, Allan Golston, president of the foundation's U.S. program, argues that annual, comprehensive education data is vital to ensuring that all students have access to a quality education.

International Development

In the Washington Post, Kevin Sullivan and Rosalind Helderman offer a closer look at how Bill and Hillary Clinton's charitable work in Haiti has both succeeded and failed.

Leadership

On the NCRP blog, Britt Yamamoto, executive director of iLEAP, a nonprofit organization that works to inspire and renew social leaders, shares some key takeaways from the NCRP report Cultivating Nonprofit Leadership: A (Missed?) Philanthropic Opportunity.

Grantmaking

The future of innovation in the social sector is...general operating support, writes Jocelyn Wyatt, executive director of IDEO, on the Stanford Social Innovation Review blog.

Nonprofits

Boston-based venture capitalist Todd Dagres is a fan of Shark Tank, the ABC business-pitch reality show, and according to the Boston Globe's Sacha Pfeiffer, he's looking to create a competition modeled on the show where "[e]arly-stage not-for-profit organizations could pitch their missions to investors, who would vet them on their plans and fund those they consider most promising."

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Weekend Link Roundup (February 7-8, 2015)

February 08, 2015

Winter-wonderland-tumblr-3Our weekly roundup of noteworthy items from and about the social sectorFor more links to great content from and about the social sector, follow us on Twitter at @pndblog....

Climate Change

The Guardian's Damian Carrington reports that Norway's Government Pension Fund Global (GPFG), the richest sovereign wealth fund in the world, with assets totaling more than $850 billion, dumped 32 coal-mining companies from its portfolio in 2014. "Our risk-based approach means that we exit sectors and areas where we see elevated levels of risk to our investments in the long term," said Marthe Skaar, spokesperson for GPFG, which had had $40 billion invested in fossil fuel companies. "Companies with particularly high greenhouse gas emissions may be exposed to risk from regulatory or other changes leading to a fall in demand."

Communications/Marketing

In the Stanford Social Innovation Review, Andrew Sherry, vice president of communications for the John S. and James L. Knight Foundation, argues that, in the age of the Internet, "communications is not just an opportunity for nonprofits; it's a necessity. Whether we're fundraising or trying to influence policy," he continues,

how we reach the right person with the right message has changed profoundly. Now it can take far more to figure out who the right people are, what channels to reach or influence them through, and how to hear them. It’s one thing to land a grant to open a new art space; it’s another to convince city hall that the community wants it, and still another to build a community to support it....

Education

It is troubling and a very big deal, writes Ben Hecht, president and CEO of Living Cities, that a majority of U.S. public school children today live in poverty and are eligible for a free or reduced price lunch. 

Grantmaking

On the Glasspockets Transparency Talk blog, Jessica Bearman (aka "Dr. Streamline) shares six things foundations can do to improve the diversity and inclusion of their grantmaking.

Impact/Effectiveness

In a LinkedIn post, Peter York, founder and CEO at Algorhythm, a Philadelphia-based software company that is working to "democratize" impact measurement, asks: Who really has access to the power of impact measurement? And is there more we can do to make it available to everyone, including the beneficiary?

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Setting Standards in a Booming Market: What Makes Green Bonds Green?

December 02, 2014

Headshot_nicholas+tlaiyeOnce a niche market, "green bonds" — debt instruments designed to raise capital to finance climate-related or otherwise environmentally beneficial purposes — have proven increasingly popular with investors. In the first half of 2014, for instance, approximately $20 billion in green bonds were sold, a figure that is expected to nearly double by year's end — explosive growth for a niche financial instrument that just two years ago accounted for only $3 billion of the $80 trillion bond market.

The first "green" bond labeled as such was issued in 2008 by the World Bank's International Bank for Reconstruction and Development. At the time, it was a product specially tailored to satisfy demand from Scandinavian pension funds looking to invest in environmentally friendly fixed-income products. The bond, which was developed in close collaboration with Skandinaviska Enskilda Banken and the inaugural group of investors, supported a pre-defined set of climate change mitigation and adaptation projects. Since then, growing investor demand has helped to broaden the pool of environment-related bond issuers, as well as the criteria used to define the objectives of said issues. This, in turn, has led to some confusion as to what exactly makes a bond "green."

Lacking a universally accepted definition, the original issuance process developed by the World Bank Group often is used as a guiding benchmark. All World Bank projects are designed to achieve concrete development results and pass environmental, social, and governance due diligence filters. The subset of projects that address climate change — including projects to help reduce greenhouse gas emissions and mitigate the adverse effects of a warming climate — are reviewed by environmental specialists to determine whether they meet the World Bank's eligibility criteria, which were developed with the help of academics at the Center for International Climate and Environmental Research (CICERO). If they do, the future proceeds of the bond are allocated to the selected projects. Projects supported in this manner have included solar and other renewable energy installations, waste management infrastructure, and reforestation initiatives. The progress and outcomes of all projects financed by the World Bank are monitored periodically. In the case of green bonds, the World Bank Treasury monitors the progress of each project and provides a summary and impact report to investors interested in learning more about the expected social and environmental outcomes of the project or projects their investments are supporting.

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Weekend Link Roundup (November 8-9, 2014)

November 08, 2014

GOP_waveOur (slightly abbreviated) weekly roundup of noteworthy items from and about the nonprofit sector....

Civil Society

Pooja Gupta, a writer at Harvard's Shorenstein Center on Media, Politics and Public Policy, reviews the findings of a 2014 study published in Psychological Science which found that Americans' trust in each other and their institutions (the military excepted) has hit all-time lows in recent years. According to the authors of the study, "Trust in others and confidence in institutions [are] key indicators of social capital," but that kind of "capital"

was lower in recent years than during the Watergate scandal of the early 1970s; the Iran hostage crisis and "national malaise" of the late 1970s and early 1980s; the height of the crime wave in the early 1990s; the Clinton impeachment of the late 1990s; the September 11, 2001, terrorist attacks; and the financial crisis and recession of the late 2000s....

Climate Change

Not that the new Congress will have any interest, but here are ten facts about climate change from the UN's new climate report that should give everyone pause.

Fundraising

The host of this month's Nonprofit Blog Carnival, fundraising consultant Pamela Grow, has issued a call for submissions. As has been the case for the past few years, this month's roundup is looking for submissions that detail how nonprofit organizations around the world are creating an "attitude of gratitude" (i.e., celebrate the donors who make their work possible). Here's how to submit:

  1. Write a blog post, or choose a recent post that fits the theme.
  2. Submit the post via email to: nonprofitcarnival@gmail.com – be sure to include your name, your blog's name and the URL of the post (not your blog homepage).
  3. Get your post in by the end of day on Sunday, November 23. You can check back on Monday, November 24, to see if your post made the cut!

Global Health

The hysteria around Ebola in the U.S. may be fading, but the ignorance and misconceptions that fueled it in the first place are still very much with us, Angélique Kidjo, a singer and songwriter from Benin, reminds us in in an op-ed in the New York Times.

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What a Rose-Breasted Grosbeak Can Tell Us About Our Stewardship of the Planet

October 07, 2014

Audobon_passenger_pigeonOn my morning walk the other day, I happened on a small bird in obvious distress lying on the sidewalk. Apparently, it had flown into a building and injured itself – or that's what staff at the Schuylkill Center for Environmental Education said when I called them to see what I could do to help the poor thing. Rick Schubert, director of wildlife rehabilitation at the center, said the bird was probably migrating south, since it didn't sound, from my description, like a bird that was native to the area. Schubert went on to say that migrating species of birds established their migratory routes long before cities were a feature of the landscape and that they are not particularly good at navigating around tall buildings.

Soon enough, the bird died, and I was overcome by grief – not just for the little voyager that never made it to its destination, but for the precarious state of all our birds. As I learned from the Audubon Society's Audubon Birds and Climate Report, which was issued last month, half of all North American birds are severely threatened by climate change.

One of the most dramatic illustrations of the phenomenon can be seen near my home in Philadelphia. The rufa red knot, a bird smaller than a robin, migrates more than nine thousand miles every spring from the tip of Patagonia to the Canadian arctic, and makes the return journey every fall. The birds time their three-month trip north to arrive at the southern Jersey shore for the horseshoe crab spawning season; the abundance of food enables them to double their weight in preparation for the remainder of the journey north. Sadly, horseshoe crabs were overfished for bait in the 1990s, and that has resulted in a 70 percent drop in the rufa red knot population. Better crab harvest management since then has stabilized the declining bird population, but according to the U.S. Fish & Wildlife Service, the red knot is "particularly vulnerable to climate change."

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Weekend Link Roundup (June 21-22, 2014)

June 22, 2014

WorldCup_ballOur weekly roundup of new and noteworthy items from and about the nonprofit sector....

Climate Change

In an op-ed in the New York Times, former Goldman Sachs CEO and Treasury secretary (2006-09)  Henry Paulson argues that in order to meet "the challenge of our time" (i.e., climate change), the U.S. needs to "plac[e] a tax on carbon dioxide emissions," phase out all subsidies for fossil fuels and renewable energy ("Renewable energy can outcompete dirty fuels once pollution costs are accounted for"), and work hand-in-hand with China to transition to a global economy powered by clean energy.

Giving

The 2014 edition of the Giving USA report was released on Tuesday, and as usual, writes the AP's David Crary, "Wealthy donors are lavishing money on their favored charities, including universities, hospitals and arts institutions, while giving is flat to social service and church groups more dependent on financially squeezed middle-class donors."

Higher Education

Affirmative action as we know it is doomed, writes David Leonhardt on the New York Times' Upshot blog. "Five of the Supreme Court's nine justices have never voted in favor of a race-based affirmative action program," he notes, while "eight states have already banned race-based affirmative action, and four additional ones, including Ohio and Missouri, may consider bans soon." But maybe a system based on income and/or high school class rank rather than income is a better solution at this moment in history. "Justice Anthony Kennedy, the swing vote on the Supreme Court, has signaled some openness to letting institutions consider race," Leonhardt writes,

so long as race doesn't dominate their decisions. And in today's version of affirmative action, race dominates. The standard way that colleges judge any potential alternative is to ask whether it results in precisely the same amount of racial diversity, rather than acknowledging that other forms of diversity also matter.

"An affirmative action based mostly on class, and using race in narrowly tailored ways, is one much more likely to win approval from Justice Kennedy when the issue inevitably returns to the court.

"The next move belongs to those who believe in affirmative action. They can continue to hope against hope that the status quo will somehow hold. Or they can begin to experiment — and maybe end up with a fairer system than the current one."

 

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Weekend Link Roundup (June 7-8, 2014)

June 08, 2014

World Cup_logoOur weekly roundup of new and noteworthy items from and about the nonprofit sector....

Climate Change

On the Bloomberg View site, Cass Sunstein, the Felix Frankfurter professor of law at Harvard University, provides three rebuttals to the so-called Sophisticated Objection of the fossil fuel lobby and its supporters, an argument which acknowledges that while climate change is a serious problem, unilateral action by any country will impose significant costs without producing significant benefits.

Data

On the Markets for Good blog, Lucy Bernholz suggests it's time we started thinking more seriously about how to "collect, organize, govern, store, share, and destroy digital data for public benefit" – and offers a couple of "deliberately half-baked" ideas to get us started.

"Good data practice is not just about the technical skills," writes Beth Kanter on her blog. "There is a human side [as well].  It is found between the dashboard and the chair. It includes organizational culture and its influence on decision-making – from consensus building on indicators, agility in responding to data with action, and sense-making. It is the human side that helps nonprofits use  their data for learning and continuous improvement." 

Education

On the Inside Philanthropy site, L.S. Hall weighs in with a surprisingly generous consideration of the education philanthropy of Facebook co-founder Mark Zuckerberg and his wife, Priscilla Chan.

Evaluation

Nancy Roob, president and CEO of the Edna McConnell Clark Foundation, argues in a post on the Stanford Social Innovation Review blog that while fears of rigorous evaluation are "justifiable," a broader perspective on the purposes of evaluation can help allay them.

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Weekend Link Roundup (May 24-26, 2014)

May 26, 2014

Healing_Field2After another Typepad outage last weekend, we're back with our weekly roundup of new and noteworthy items from and about the nonprofit sector....

Advocacy

In the Summer 2014 issue of the Stanford Social Innovation Review, Steven Teles, an associate professor of political science at Johns Hopkins University, Heather Hurlburt, a senior fellow for national security at Human Rights First, and Mark Schmitt, director of the program on political reform at the New America Foundation, argue that the mid-20th-century "golden age" of consensual politics in America was an anomaly and that, for nonprofits and foundations engaged in advocacy, there are three alternatives for dealing with increasing political polarization: staying the course; changing the system; and accepting and adapting.

Climate Change

On the F.B. Heron Foundation blog, Heron board chair Buzz Schmidt applauds Stanford University's recent decision "to 'repurpose' funds formerly invested in coal mining companies into investments that made more positive contributions to society's regenerative capital" and suggests that critics of the decision who suggest that divestment campaigns typically fail because they don't have any impact on companies' stock price are missing "the forest for the trees."

Education

In USA Today, Math for America president John Ewing argues that while the Common Core standards are not perfect, "they provide a structure that has a huge amount of potential if we just give [them] some time to work."

Fundraising

These days, it's hard to avoid talk about crowdfunding. But Social Velocity's Nell Edgington thinks it might be time to distinguish what's exciting about the crowdfunding approach from the hype and shares some questions to help us do that.

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5 Questions for...Ellen Dorsey, Executive Director, Wallace Global Fund

February 27, 2014

In late January, Divest-Invest Philanthropy, a coalition of seventeen foundations with nearly $2 billion in assets, introduced itself to the world with the announcement that its members have agreed to divest their portfolios of investments in fossil-fuel companies and invest a portion of those resources in climate change solutions instead. Arguing that continued investment in the fossil fuel industry carries both ethical and financial risks, coalition members are calling on other foundations to realign their portfolios away from investments in coal, gas, and oil companies and to join them in supporting and sustaining the clean energy economy.

PND recently spoke with Ellen Dorsey, executive director of the Wallace Global Fund, a leading member of the coalition, about the genesis of the divestment movement and the need to act now.

Headshot_ellen_dorseyPhilanthropy News Digest: What was the catalyst for the creation of the Divest-Invest Philanthropy coalition? And what is at stake here?

Ellen Dorsey: The catalyst was the climate crisis itself — a serious threat that affects all of us — and the need to divest from fossil fuels and invest in climate change solutions. As a responsive philanthropy, we want to support that shift and encourage the philanthropic sector as a whole to take this movement seriously.

So the goal of the initiative is not just to announce the commitment by seventeen foundations to divest from fossil fuels and invest in clean energy; it's also to call on the philanthropic sector more broadly to engage in the climate debate and encourage other institutions to both divest from coal, oil, and gas companies that are driving the problem and actually use their investments creatively to identify and fund climate solutions in ways that help move us toward the kind of new energy economy that the world needs.

PND: It's clear that members of the coalition see divestment from fossil fuels as a moral issue. The letter you released in January says, "Mission-based institutions whose goals and constituencies are threatened by the extraction and combustion of fossil fuels should not also seek to profit from them." When did your foundation, the Wallace Global Fund, decide it has a moral obligation to address the threat posed by our continued reliance on fossil fuels?

ED: In 2009, we began analyzing our grantmaking and our investments. We quickly realized there were real inconsistencies. One striking example was investing in fossil fuels at the same time as we were working to combat climate change and all its environmental and human rights impacts. How could we be invested in the very industries driving the crisis we were asking our grantees to solve? Not only was our investment strategy potentially undercutting our grantmaking, we were foregoing the opportunity to use our investments as a tool to achieve our mission and goals. We could be helping create the clean energy economy the world requires.

Additionally, we don't believe there is only an ethical risk to investing in fossil fuels. We also believe there are serious financial risks. Prudent investors are listening to the warnings that fossil fuel stocks are overvalued, as we cannot possibly burn the reserves coal, oil, and gas companies currently hold without cooking the planet. It is clear that a tectonic shift is required in the way we produce and consume energy, and smart investors will put their assets in the energy sources of the future.

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