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ERIC Number: EJ1218588
Record Type: Journal
Publication Date: 2019
Pages: N/A
Abstractor: ERIC
ISBN: N/A
ISSN: ISSN-1938-5978
EISSN: N/A
A Modest Proposal to Save the Planet
Desmond, Charles; Jorling, Thomas C.; Wachterhauser, Kier
New England Journal of Higher Education, May 2019
Nonprofit institutions with large endowments have been facing challenges from various stakeholders contesting the management of their investment portfolios. While these challenges are most commonly associated with institutions of higher education, pension funds and private foundations will increasingly face similar challenges regarding how the management of their endowments affects socially important policies. Together, these endowments represent hundreds of billions of dollars, and the market power they possess is very substantial. Certainly divesting in carbon-based corporations is one avenue to consider. It is, however, the authors' proposal that a positive investment strategy is a much more effective way to drive the message that climate change is real and requires action by nonprofit organizations who sit on large amounts of capital. Thus, they propose, as a start, that nonprofit organizations with endowments greater than $1 billion commit to investing 10% of their endowment in corporations whose primary business activity is building and operating alternative energy systems based upon the endless supply of the sun's energy and the wind. These alternative energy systems would include photovoltaic electric generation and associated energy storage technology, especially batteries.
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail: nejhe@nebhe.org; Web site: https://nebhe.org/nejhe/
Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A