We are European Foundations, Family Offices and Individuals who have pledged to divest from fossil fuels and invest in climate solutions such as renewable energy, clean tech and energy efficiency. We do this for three reasons.
We do not want our investments to undermine the work of our philanthropy and grant making. Continued investment in fossil fuels will lead to runaway climate change, the consequences of which will disproportionately affect the poor and vulnerable. We are gravely concerned about the risks posed to fossil fuel investments by likely changes to policy and by the increasing competitiveness of the alternative energy market. We believe we will be in breach of our fiduciary duty if we do not manage this risk. We want to send a loud, public signal to governments, policy makers and business leaders about the future we want them to enable for us and for our beneficiaries.