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CalPERS Opts to Keep Ban on Tobacco Stocks
CalPERS said no again to tobacco Monday. Amid a passionate debate on the wisdom and morality of investing in tobacco, the big California pension fund rejected a recommendation by its staff to end its 16-year-old ban on the practice. CalPERS’ investment committee, in a 9-3 vote, concluded that the tobacco industry is heading toward long-term decline and presents too much of a risk
- Categories
- Impact Assessment, Investing
- Region
- North America
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Social Investing’s Pension Problem: Just a Speedbump, or Something More Ominous?
The respected Center for Retirement Research at Boston College says public pension funds (a $5 trillion market in the U.S.) should avoid social investing because, basically, it doesn’t deliver competitive returns or have much social impact. This bleak assessment runs directly counter to the seemingly endless series of reports attesting to the sector’s competitive returns and growing momentum. How big a setback is this?
- Categories
- Investing, NextBillion Originals
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Weekly Roundup: The Death of a Salesman, a Megaphone for Mom, and a Target on BlackRock
Divestment activists in the gay community turn their sights on BlackRock, a tragic suicide reveals trouble in India's health care industry, and a new study shows the value of constructive nagging in this week's Roundup.
- Categories
- Entrepreneurship, Health Care, Investing, NextBillion Originals
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Rockefeller Family Fund hits Exxon, divests from fossil fuels
The Rockefeller Family Fund said on Wednesday it would divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp.
- Categories
- Energy
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UMass Foundation to Divest from Investments in Coal Companies
Continuing the University of Massachusetts community’s leadership on climate change, the UMass Foundation announced today that it will divest from direct investments in coal companies. The Foundation also said that it will continue to evaluate ways to manage the endowment in a manner that promotes both environmental sustainability and socially responsible investing. The Foundation oversees $770M in endowment assets for the UMass System.
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Gates Foundation Cuts Fossil Fuel Investments — but Why?
Almost every day for the past several months, protesters gathered outside the Bill & Melinda Gates Foundation’s Seattle headquarters, exhorting the world’s richest philanthropy to fight climate change by pulling its investments from fossil-fuel companies.
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