Foundations have social goals, but our power is financial. If we’re serious about supporting social change, then we should be applying the same social mission lens to all of our financial activities – not just to our grant making, but to our investments as well.

The Chorus Foundation has been free of fossil fuel investments since our inception. But divestment is only the first step. The next step is to invest in solutions to the climate crisis – something that we have already been exploring.

We believe we have a responsibility to prioritize investment in the communities that are most familiar with the fossil fuel industry – not just in terms of impact, but also in terms of employment and economic development. We’re learning how to invest directly in the same communities that we support with our grant making.

We understand that that this kind of investment requires different forms of capital guided by a broad set of metrics. We also understand that it requires a strong partnership between economic development and social movement organizing. Where there are not yet investment opportunities, we need to consider how our grant making could help those opportunities become real.

We believe foundations, as mission-driven organizations, should prioritize investments that further our social missions and – by showing what can be done – open up new investment opportunities for more traditional investors. Foundations should be among the most forward-thinking of investors.

Instead of investing in destructive industries that generate wealth for only the few, we should be investing in clean alternatives that benefit the many. Instead of holding our investments to dangerous and unrealistic expectations of endless financial growth, we should prioritize social returns that are truly sustainable. We need to divest from the old economy and invest in the transition to a new economy. To date, we have invested nearly $4 million in solar and other clean energy as well as in a very small number of companies building the new economy. For example:

• Ethical Electric powers homes and businesses with 100% clean energy from renewable sources like wind and solar and uses the profits to fund causes that benefit the planet and advance equality, peace, justice, and opportunity. The investment helped finance its growth.
• Seventh Generation is an established company selling natural, non-toxic household and personal care products.
• The Working World is a non-profit organization that provides investment capital and technical support to worker cooperatives. It lends people the tools to democratically build lasting wealth for themselves, their businesses, and their communities.