Wednesday, June 17, 2015
Foundations Vow to Invest in Clean-Energy Technology
The Obama administration on Tuesday announced $4 billion in commitments from the private sector, including more than $1 billion from institutional investors for clean-energy investments.
In addition, a coalition of more than 90 foundations and family offices with total endowment assets of $4.8 billion is committing at least 5% of their total endowment assets each — and in many cases more than 10% — to investments in new energy over the next five years. These foundations include the $866 million Rockefeller Brothers Fund, $304 million Schmidt Family Foundation $166 million Overbrook Foundation, $75 million John Merck Fund, $64 million Compton Foundation and $14.8 million Betsy and Jesse Fink Foundation....