Fossil fuel divestment gains momentum in philanthropy

Published November 1, 2021 8:55 AM

By HALELUYA HADERO
AP Business Writer

A movement to divest from fossil fuels is gaining momentum among foundations as activists push the $1 trillion sector to shift its money away from coal, oil and natural gas. The call from activists to the charitable world and other sectors has been simple: Ditch fossil fuels and direct your investments into climate-friendly companies and funds. Now, two of the biggest names in philanthropy — the Ford and MacArthur foundations — say they are reorienting their investments away from fossil fuels. One leader in the divestment movement, Ellen Dorsey, believes it may be a “tipping point” for the movement within the philanthropic community.

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