Divestment reaches large investors

Money growing on treesAccording to the New York Times and Reuters, more than a dozen large foundations representing more than $2 billionĀ  (around 1.48 billion euros) in assets will stop investing in fossil fuels, just as the World Bank and the United Nations advise.

To Reuters : The Divest-Invest Philanthropy coalition includes foundations, such as the Park Foundation, the John Merck Fund and the Schmidt Family Foundation – co-founded by Google Inc Executive Chairman Eric Schmidt – in the United States “

These foundations believe that the carbon bubble presents both financial and ethical risks and urge others to follow their lead in divesting from unburnable carbon.

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