So you’ve made the decision to divest from fossil fuels. What’s next?
The first step is to tell your bank that you’d like to make your investments fossil-free. Even if they do not currently offer fossil-free funds, simply asking helps your financial institution realize that there is a consumer demand for such products. If large numbers of consumers ask to divest from fossil fuels, financial institutions will increase our investment options to capitalize on that demand and keep your investment dollars.
The range of options for impact investing continues to grow. SolarShare, ZooShare, and the Centre for Social Innovation have collaborated to produce a fact sheet on community bonds that highlights promising options in Ontario. Tim Nash, The Sustainable Economist, provides a helpful overview and link to the factsheet in this blog post.
Some existing options*:
- CIBC Wood Gundy Blue Heron Advisory Group
- Community Energy Development Co-operative Solar-Fit (Feed-in-Tariff)
- FTSE All-World ex Fossil Fuels Index Series
- FTSE Green Revenues Index Series
- Genus Capital Management Fossil Free Portfolios
- Green Century Balanced Fund
- Greenchip Financial
- LIFE Co-operative renewable energy co-operatives
- PZD – PowerShares Cleantech Portfolio
- SolarCity’s Solar Bonds
- SolarShare’s Community Solar Bonds.
- TD Canada Trust Green Bonds
- IA Clarington Inhance SRI Funds
- ZooShare Biogas Co-operative’s community bond
*Divest Waterloo cannot currently vouch for the fossil-free nature of these investments (though we hope to in the near future), so we encourage you to do your research.
Divest Waterloo is not an investment organization, nor should any information offered here be understood as investment advice; each individual, group, institution, or other entity making investment decisions should consult with trusted investment advisors and/or financial consultants before making any investment decisions. We do hope, however, to offer as many resources as possible; if your financial institution recommends a fossil-free fund that is not on the above list, please let us know.
Canadian Centre for Policy Alternatives, Canada’s Carbon Liabilities: The implications of Stranded Fossil Fuel Assets for Financial Markets and Pension Funds.
Now Magazine article: “How do we get investment funds and pensions off fossil fuels?”
The Climate Has Changed report (July 2014) from Canada’s Responsible Investment Association exploring the investment potential of fossil fuel free portfolios and the challenges for Canadian investors
Clean Energy Canada’s Clean Energy Review provides a weekly digest of the 10 most important climate and clean energy developments.
Aperio Group Fact sheets, research reports and other resources to support carbon divestment.
Extracting Fossil Fuels from your Portfolio: A Guide to Personal Divestment and Reinvestment, a report by 350.org, Green Century Funds, and Trillium Asset Management
Institutional Pathways to Fossil-Free Investing, a report by J. Humphreys, Tellus Institute