Divest-Invest Philanthropy is a coalition of U.S. and global foundations pledged to divest from fossil fuel companies and invest a portion of their assets in the clean energy economy. Members of the Divest-Invest Philanthropy initiative are united around a shared conviction that investments must not undercut philanthropy’s mission to serve the public good. Rather, endowed assets should advance both financial and ethical goals.
Adelaide Park Gomer, President of the Park Foundation and chair of the board, realized early on that it was a contradiction to make grants to not-for-profit organizations that, for example, worked to abolish forest clear-cutting, prevent the use of genetically modified foods and reduce toxins in our waterways if the foundation at the same time was invested in corporations responsible for these egregious practices. Gomer decided to reinvest her personal portfolio in a way that would not harm people and the environment. Pleased with the performance of her new portfolio, she took on the challenge of convincing the foundation to follow suit.
