A coalition of environmental and investment groups has published a guide to divesting portfolios of fossil fuel industry stocks, the coalition announced Tuesday.
Green Century Capital Management, 350.org and Trillium Asset Management LLC have published Extracting Fossil Fuels from Your Portfolio: An Updated Guide to Personal Divestment and Reinvestment, which explains why the coalition feels investment in the coil, oil and gas industries is risky and contributes to damaging the environment. It also shows investors how to divest their portfolios of these assets and reinvest. This is an updated edition of the original guide published last year.
“The potential financial advantages of moving away from coal, oil and gas companies has attracted the attention of investors at every level,” says Leslie Samuelrich, president of Green Century Capital Management, the advisor to a family of diversified and fossil-fuel-free mutual funds. “People care about carbon pollution and want to use their investments to make an impact.”
Bill McKibben of 350.org, which heads the Fossil Fuel Divestment campaign, adds, “By naming the fossil fuel industry’s singularly destructive influence, we hope that the divestment movement can help break the hold that the industry has on our economy and governments.”
“We believe that all investors who care about the planet have a responsibility to try to divest. Our goal is to create a platform of investment options that makes this step as easy and straightforward as possible,” says Matthew W. Patsky, CEO of Trillium Asset Management, an employee-owned investment management firm that specializes in socially responsible investing.
The guide can be found here or at any of the coalitioin members' websites.