"The Divestment Movement’s Big Month"

"Investors, foundations, universities and governments pulled their assets from fossil fuel companies in record numbers in October."

"The decades-long push to get large investment funds to pull their money from destructive oil, gas and coal has made several major leaps forward in the past month. One of the biggest occurred Oct. 18 when the Ford Foundation, a nonprofit built on profits from the combustion engine, announced it would divest its endowment from fossil fuel companies.

The foundation also promised to invest in renewable energy companies and funds that “address the threat of climate change and support the transition to a green economy.”

Fossil fuels represented a relatively small percentage of the Ford Foundation’s total investment portfolio, but even a fraction makes a huge difference when you’re worth $16 billion.

That’s a point activists and community organizers have been making with increasing regularity over the past decade. And their growing success shows that collective voices for change can make a difference."
John R. Platt reports for The Revelator October 29, 2021.

Source: The Revelator, 11/01/2021