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Croatan Institute takes action during Climate Week

Croatan Institute takes action during Climate Week

NEW YORK CITY -- Croatan Institute affiliates joined hundreds of thousands of people in taking action on global warming in the days leading up to the United Nations Secretary-General's 2014 Climate Summit in New York City.

On Sunday, September 21, Senior Associate Dan Apfel joined nearly 400,000 others in the People’s Climate March in New York City, the largest public demonstration in history calling for action on climate change.

Apfel said, “It was amazing to see nearly 50,000 students and young people in attendance. They have really brought the climate movement back to the forefront by their hard work, especially in leading the fossil fuel divestment movement.”

The same day, Andreea Rodinciuc and David Roswell participated in an interfaith climate vigil in Chapel Hill, North Carolina, which focused on local organizing around sustainability and environmental justice in solidarity with the People’s Climate March.

On Monday, September 22, President and Senior Fellow Josh Humphreys and Fellow Fern Jones presented preliminary findings on the demand dynamics of clean energy finance at a side event to the climate summit organized by the Clean Energy Group and Croatan Institute and convened at the Surdna Foundation. The convening brought together more than two dozen participants, including foundations, faith-based investors, asset managers, credit raters, underwriters, investment consultants, and other stakeholders, to discuss how to use the rapidly emerging "green bond" market to help close the gap in clean energy finance in the United States. The group’s findings and recommendations for enhancing clean energy bond finance will be published later this fall.

According to Ms. Jones, “The UN Climate Summit gave us an occasion to focus together on how to finance the transition to renewable energy sources in the United States. It's going to take many parties at the table from all sides to confront what can't be ignored any longer to get constructive solutions. I was thrilled to find these investors eager to combine forces to get things done, not just talk.”

Finally, the Divest-Invest Philanthropy initiative announced yesterday that 67 foundations with more than $4 billion in combined assets, including the Rockefeller Brothers Fund, have now committed to divesting from fossil fuels and investing in climate solutions.

Globally, institutional and individual investors have now pledged to divest portfolios worth an estimated $50 billion and to begin investing in a more sustainable economy. Croatan Institute is an adviser and allied organization of the Divest-Invest initiative.

For more information on Croatan Institute’s work on fossil-free investment and clean energy finance, please see Fossil-Free Pathways.