Endowment to Replace Investments in Fossil Fuels with Climate Solutions
The Stanley Center for Peace and Security’s Board of Directors voted unanimously on Saturday, November 6, 2021 to rid the organization’s endowment of any investments tied to oil, gas, and coal companies. The center is funded by the endowment, begun by C. Maxwell and Elizabeth M. Stanley in 1956, and has since grown to more than $150 million.
“Our organization’s mission is to catalyze solutions to critical issues of peace and security,” said Rei Tang, Program Officer for Climate Change at the Stanley Center. “The need to limit global temperature increases to 1.5°C above preindustrial levels is a central part of that mission because of the threat global warming posts to all people on the planet. Rapid, transformational, and systemic change cannot wait if we hope to protect those communities most at risk.”
The Stanley Center’s work on climate policy examines and accelerates those promising but lesser-explored pathways to achieve limits on global temperature rise; leverages international political moments—like the UN climate talks (or COP26) in Glasgow—to connect coalitions and alliances; and searches for solutions outside of climate policy, where the threats posed by climate change demand work with other sectors, such as migration, public health, and international security.
“As part of our core values, the Stanley Center recognizes the collective responsibility of all people to one another, to our planet, and to building a just and sustainable future,” according to Keith Porter, President and CEO of the center. “Honoring the legacy of our founders and what we stand for means the endowment that supports our global work must be brought into alignment with our mission and vision, and we hope others will join us in making the DivestInvest pledge.”
As part of the pledge, the center has three to five years to ensure its portfolio is rid of fossil fuel company investments and includes climate solutions, such as renewable energy, energy efficiency, sustainable agriculture, water efficiency, and more.
“We hope to achieve this pledge well within the timeframe we have available,” said Cassie Batzkiel, Director of Finance and Treasurer at the Center. “Investment managers have a fiduciary obligation to do what is in the best interest of their client. Investments in green energy and sustainability often outpace the performance of polluters. This is a win-win for our planet and the center’s long-term future.”
The Stanley Center for Peace and Security partners with people, organizations, and the greater global community to drive policy progress in three issue areas—mitigating climate change, avoiding the use of nuclear weapons, and preventing mass violence and atrocities. The center was created in 1956 by C. Maxwell and Elizabeth Stanley and maintains its independence while developing forums for diverse perspectives and ideas. More information is available at stanleycenter.org.
DivestInvest is a diverse, global network of individuals and organizations united in the belief that by using our collective influence as investors to divest from fossil fuels, and invest in climate solutions, we can accelerate the transition to a zero-carbon economy. More information is available at divestinvest.org.
For inquiries about the Stanley Center’s pledge to DivestInvest, please contact Mark Seaman.