Foundation News

By Dan Chu, Executive Director, Sierra Club Foundation

Last month, I had the opportunity to represent the Sierra Club Foundation at the most recent Investor Summit on Climate Risk, co-hosted by the United Nations and the Ceres Investor Network in New York City on January 31, 2018. This was the eighth biennial gathering, drawing over 450 international leaders, funders, and investor groups.

This year, the summit introduced The Investor Agenda, a framework for advancing a low-carbon future under four focus areas: investments, corporate engagement, disclosure of climate risk, and policy advocacy. The Sierra Club Foundation, through our fiscal sponsorship of the Sierra Club and grants to partner advocacy groups, supports grassroots campaigns that address climate change and clean energy solutions. We also ensure our financial assets are managed in ways that further our commitment to a healthy planet, today and for future generations.

A session of particular interest was a breakout on recent progress in clean transportation, featuring speakers from BMW, Lyft, and others. Through sponsoring the Sierra Club’s clean transportation campaigns, the Foundation continues to make this a key area of support. Transportation is now the leading cause of pollution in an increasing number of states as the pollution from coal plants is drastically reducing through the successful work of the Beyond Coal campaign. Victories in 2017, such as the commitment by Los Angeles to transition all public buses to clean energy, are encouraging, but there is much more to be done.

Attendees also heard from University of Michigan Professor Rosina Bierbaum and Jeremy Grantham, of the Grantham Foundation, regarding the accelerating impacts of climate change. Recent natural disasters, mudslides, wildfires, droughts, hurricanes, and erratic temperature swings have wreaked havoc on millions of people this past year. Now more than ever, we are witnessing firsthand the urgency of advancing a low-carbon future as quickly as possible. It was inspiring to hear that many investors are increasingly demanding that companies act more responsibly and exert the leadership needed to solve the climate crisis.

Public demand for renewable energy is increasing rapidly. Ethan Zindler, of Bloomberg New Energy Finance, noted that clean energy investments soared to over $300 billion dollars in 2017 as the costs for storing electricity continue to drop. At the Sierra Club Foundation, we will continue to support community-led clean energy efforts in cities and regions across the United States.

Finally, it was great to spend time with Sierra Club Foundation board members at the conference and in New York City. I am lucky to have such a smart and committed group of volunteers laser-focused on protecting nature and people in these challenging times.