Fossil fuel divestment gains momentum in philanthropy

By HALELUYA HADERO
AP Business Writer

A movement to divest from fossil fuels is gaining momentum among foundations as activists push the $1 trillion sector to shift its money away from coal, oil and natural gas. The call from activists to the charitable world and other sectors has been simple: Ditch fossil fuels and direct your investments into climate-friendly companies and funds. Now, two of the biggest names in philanthropy — the Ford and MacArthur foundations — say they are reorienting their investments away from fossil fuels. One leader in the divestment movement, Ellen Dorsey, believes it may be a “tipping point” for the movement within the philanthropic community.