The Rockefeller Foundation is making greater efforts in Environmental, Social, and Governance (ESG) endeavours by pledging to funnel $1 billion into sustainability projects over the next five years.
The Rockefeller Foundation is making greater efforts in Environmental, Social, and Governance (ESG) endeavours by pledging to funnel $1 billion into sustainability projects over the next five years.
Originally funded by the wealth of American magnate, John D. Rockefeller, the Rockefeller Foundation’s plan will send out vital support to impoverished communities around the globe. This substantial commitment will focus on providing underprivileged areas new resources such as power grids, e-powered traffic infrastructure and cutting-edge approaches to more sustainable agricultural.
Foundation President Rajiv Shah has emphasised their dedication to combating climate change, revealing a significant shift in priorities. He stated that they are increasing their allocation from approximately 25% of resources over the previous five years to around 75% in the next half-decade, recognising climate change as humanity’s most pressing threat.
The Rockefeller Foundation plans to bolster these initiatives by acting as a guarantor in some cases, thereby encouraging additional investors. In Nigeria, they are introducing a local currency guarantee instrument to support entrepreneurs in constructing mini grids, exemplifying their commitment to leveraging finance for desired outcomes.
Notably, this $1 billion commitment is entirely new and does not include prior commitments made. The Rockefeller Foundation also reaffirmed its 2020 decision to divest from fossil fuels, a move that cost them $80 million in 2021.
Currently, fossil fuel exposure constitutes less than 1% of their endowment, aligning with global efforts to redirect capital away from environmentally and socially risky businesses. This substantial investment demonstrates the Foundation’s determination to address climate change and support vulnerable communities worldwide.
Know the risks
As sustainability issues rise to the top of government agendas, it’s never been more important for businesses to take action and provide real support to the social and environmental causes that will look after our world for present and future generations.
Get to the top of the conversation at #RISK Amsterdam, where experts discuss how companies can embrace ESG, satisfy compliance standards and make a real difference.
Click here for the full #RISK Amsterdam agenda
Don’t miss:
Five “musts” to implement an ESG culture
- Date: Wednesday 27 September, 2023
- Location: Privacy, Security & ESG Theatre
- Time: 15:40 – 16:20 (CET)
In every activity, there are the “musts”: the things you absolutely must do if you’re going to make an impact. In this session, our ESG experts will give five key takeaways that organisations of any stripe and size can put into practice today.
Misleading Claims? Identifying and Mitigating Greenwashing Risks
- Date: Thursday 28 September, 2023
- Location: GRC & Financial Risk Theatre
- Time: 15:00 – 16:00 (CET)
Our speakers discuss the warning signs and the risks of greenwashing. Learn how to discern between genuine sustainability commitments and mere marketing tactics.
Discover more at #RISK Amsterdam
With over 50 exhibitors, keynote presentations from over 100 experts and thought leaders, panel discussions, and breakout sessions, #Risk Amsterdam 2023 is the perfect place to learn about the present and future risk landscape.
Click here to register for #RISK Amsterdam
No comments yet