Here’s how one green group got its investments out of dirty energy
Friday, November 7, 2014
The Oregon Environmental Council had a problem. It was late last year, and the nonprofit’s board finance committee was reviewing the performance of its endowment fund, which was invested in various stocks and bonds and mutual funds. On the roster, committee members discovered companies such as Exxon and Fox News.
OEC is on the front lines protecting Oregon’s rivers, pushing climate policy, and working with farmers and businesses to build green economies. So its board was not stoked to discover that its money was invested in Big Oil and Big Right-Wing Media.
The group’s investment manager at the time informed the finance committee that even though OEC’s investments were screened for environmental and social responsibility, specific companies OEC opposed could not be removed because they were included in the portfolio’s big mutual funds.