Business & Investment

“We may give up some profits for future generations”: The Ford Foundation in the automotive industry sells millions from fossil fuels

The Ford Foundation, one of the largest private foundations in the United States, will sell millions of dollars from fossil fuels that have historically powered gas car engines for sowing philanthropy.

The Foundation, which has a $ 16 billion fund, said on Monday that it would invest its energy portfolio in alternative and renewable energies.
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Funds that “address the threat of climate change and support the transition to a green economy.”

1936, Edsel Ford-Son of Henry, the founder of Ford Motor Company.NS — Founded the Ford Foundation with the first gift of $ 25,000. Ford Motor Co. itself sensed market opportunities in the electric vehicle space and created an EV version of the best-selling F-150 pickup truck called Lightning.

read: More electric pickup trucks are on the market. The question now is who buys them.

Nonprofits, businesses and governments are facing pressure from investors and other stakeholders in the fight to slow climate change. Renewal of emission reduction pledges and financial support for developing countries are paramount issues.

“Like other important decisions in dynamic organizations, this choice would not have been possible without trade-offs,” Ford Foundation Chairman Darren Walker said in a statement.

“Although only 0.3% of the Ford Foundation’s fund is invested directly in fossil fuel companies
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We take our trustee obligations seriously and keep in mind that limiting our investment could give up some reward for future generations, “he said. rice field.

Fossil fuel-based energy selection sector SPDR fund, reflecting this year’s energy price bounce
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To date, it has increased by nearly 33% in 2021.

Harvard University has the largest donation of $ 42 billion among higher education institutions in the United States. Said last month Reduced investment in fossil fuels. The MacArthur Foundation, a $ 7 billion charitable fund, has made a similar move.

“We may give up some profits for future generations”: The Ford Foundation in the automotive industry sells millions from fossil fuels

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-76DB-0EF755E74656%7D&siteid=rss&rss=1 “We may give up some profits for future generations”: The Ford Foundation in the automotive industry sells millions from fossil fuels

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