Ford Foundation & McKnight Move More Assets Away from Fossil Fuels
The Ford Foundation and the McKnight Foundation have publicly committed to move their endowments away from fossil fuels this week. The Ford Foundation is the largest foundation yet to publicly commit to divest from fossil fuels, and the McKnight Foundation is the largest to publicly commit to a net-zero endowment.
For years, climate activists have pushed for foundations to align their investments with their grantmaking. As members of the impact investing community, Ford and McKnight each confirm that the commitments will lead to more investments in climate solutions.
“We’re hopeful that McKnight and Ford Foundation’s commitment to taking bold action on the climate crisis will serve as important examples for others in the field to leverage more of their assets for deep impact,” said Matt Onek, CEO of Mission Investors Exchange.
This article was originally published in Inside Philanthropy. A PDF version of the article has been provided below with the author's permission.