With more and more institutional investors divesting from coal, oil, and gas, smaller fund managers are seeing an uptick in requests to help their clients invest in fossil-free alternatives.
Companies like Green Century Capital Management are seeing increased business as a “secondary benefit of the fast-growing divestment movement that [had] members hanging giant banners and staging protests, street theatre, sit-ins, and other actions as part of the first Global Divestment Day on Friday,” InsideClimate News reports.
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“Such highly publicized campaigns may be aimed at mega-money managers, but combined with other climate change initiatives, they have helped convince a growing wave of smaller players and individuals to rethink their investments too.”
Green Century President Leslie Samuelrich tells ICN that more and more clients are looking to invest their money in ways that support renewable energy and energy efficiency projects.
“I want to invest fossil fuel free…those are the words they’re using, so the divestment movement has resonated with people,” Samuelrich tells Douglass. “In the last two years, as concern about climate change really amped up, people replaced their light bulbs, they recycle, they think about buying a fuel efficient car, and it becomes this natural extension to ask, what am I doing with my money?”
