Divest/Invest
Park Foundation was one of the original 17 signatories to the 2014 Divest/Invest Philanthropy Initiative that encouraged foundations to divest from carbon-intensive stocks and commit themselves to “climate solutions” investments. Park Foundation severely restricts investment in companies engaged in the fossil fuel industry. We do not invest in companies along the full spectrum of exploration, production, refining, marketing, transportation, storage, and equipment. However, we use the power of equity investment in select companies to participate in dialogues and shareholder engagement with fossil fuel or carbon-intensive companies and thereby encourage environmental sustainability, transparency, and transition to a cleaner, renewable-based economy. We estimate, conservatively, that about one-fourth of the current portfolio is invested in climate solutions.
Early adoption
Park has long focused on granting to environmental organizations. Combating climate change is a core value of the Foundation.
Park was one of the original signers of the Divest/Investment Philanthropy group of 17 foundations with $2 billion in assets in 2014. This vanguard came together to lead the divestment movement out of extraction industries and reinvestment into clean energy and companies driving the transition to a new-resource economy.
Growing support
While at first more focused on the foundation world, Divest/Investment Philanthropy soon expanded to all investors. As we know, movements can take a long time to build momentum, yet impacts exceeded expectations in a relatively brief time. Since the movement began, nearly 1,500 institutions have publicly committed to some form of fossil-fuel divestment, representing nearly $40 trillion in assets, according to the 2021 Invest Divest report.
