Acknowledging the urgency of addressing climate change, Rachel’s Network has moved its reserve fund to a 100% fossil free portfolio focused on environmental solutions.

“Our members lead diverse projects to protect the environment and healthy communities, including mitigating climate change. It only made sense that our reserve fund should align with our vision and passions,” said Treasurer and Board Finance Chair Annarie Lyles. “In addition, we know that sustainable investing provides good returns in the long run while staying true to ones’ core values.”

Amalgamated Investment Services’ Aria Fund is comprised of several fossil free equity funds from ESG (environmental, social and governance) finance leaders including Parnassus, Green Century, and Trillium. The portfolio’s bond offerings include the Calvert Green Bond Fund and the Access Capital Community Investment Fund that are financing environmental solutions and economic development projects in underserved communities. Amalgamated works closely with shareholder advocates As You Sow to evaluate and screen the holdings in its portfolio.

“Fighting climate change will require trillions of dollars in sustainable investments,” said Rachel’s Network President Fern Shepard. “We hope that our example shows how simple it is to go fossil free. Whether you’re an individual investor or a large institution, now is the time to invest in climate solutions.”

In addition to granting over $1.7 million to environmental projects and women’s leadership since its founding in 2000, Rachel’s Network has had a longstanding interest in impact investing. In 2013, Rachel’s Network became a fiscal sponsor of Divest-Invest Philanthropy, a coalition of foundations pledging to divest from fossil fuel companies and invest in the clean energy economy. Several members were early signatories of Divest-Invest, and have aided in the establishment of fossil free funds with other financial institutions. Rachel’s Network has also funded the development of several shareholder actions on sustainable agriculture through As You Sow.

Over 1,000 organizations and nearly 60,000 individual investors with over $8 trillion in assets have now signed the Divest-Invest pledge. In March, the government of Norway announced that it would divest its $1 trillion sovereign wealth fund from oil and gas exploration. Divestment efforts are also underway in Denver, Singapore, New York, the UK, and many other places.


Rachel’s Network, a nonprofit organization named in Rachel Carson’s honor, promotes women as impassioned leaders and agents of change dedicated to the stewardship of the earth. The Network builds productive alliances among members and offers services that empower them to lead.

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