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Date: 2021-09-23 15:21:22
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Nine philanthropies will invest $5 billion over this decade to preserve one-third of the earth’s natural places and stave off a threatened mass extinction of a million species. The Wyss Foundation, led by medical-device billionaire Hansjörg Wyss, will contribute $500 million, on top of a $1 billion pledge it made three years ago in the Wyss Campaign for Nature. The other grant makers are the British Arcadia Fund, Bloomberg Philanthropies, the Gordon and Betty Moore Foundation, Nia Tero, Rainforest Trust, Re:wild, the Rob and Melani Walton Foundation, and Jeff Bezos’s Earth Fund, which announced Monday it would kick in $1 billion. Neither the Wyss nor the Bezos announcement disclosed which organizations would receive the grants, but they are meant to help local and indigenous communities conserve the natural resources in their midst. (Washington Post)
The MacArthur Foundation will become the largest foundation to turn away from fossil-fuel investments as it shifts part of its $8.2 billion endowment toward environmental, social, and governance-guided equities. The philanthropy’s holdings are split into various channels. It had already stopped investing in private funds that support oil and gas exploration, and Wednesday’s announcement about its equity indexes just leaves its externally managed funds going toward fossil-fuel investments — although foundation president John Palfrey said MacArthur has told those fund managers that it wants to pull out of fossil-fuel holdings. Palfrey would not divulge how much money is involved in the current divestment. (Reuters)
Background reading from the Chronicle: Stephen Heintz, head of the Rockefeller Brothers Fund last week called on wealthy grant makers, like MacArthur, to divest.