Green Century Organizes Investors in Support of Divest Harvard University’s Heat Week
Contact: Leslie Samuelrich, President, Green Century Capital Management, 617-482-0800, firstname.lastname@example.org
April 17, 2015: Today, Green Century’s President Leslie Samuelrich spoke at Harvard University in support of Divest Harvard’s efforts to persuade Harvard University President Drew Faust to transition the university’s investments out of coal, oil and gas. Samuelrich appeared with other investment advisory and financial services firms from the Greater Boston area on the culminating day of Harvard Heat Week to discuss the potential financial benefits of fossil fuel free investing.
“Opponents of divesting have said that it is too risky, that divesting is too costly, that shareholder advocacy is the better way to go. I run a company that ONLY invests fossil fuel free and I’m here to tell you that these arguments just don’t add up,” stated Samuelrich, President of Green Century Capital Management. Green Century Capital Management is the investment advisor to the fossil fuel free Green Century Balanced Fund and Green Century Equity Fund.
“Even if Harvard University was only motivated by financial considerations and not its leadership position in the world, there are compelling reasons to move its investments out of the fossil fuel industry. The case is based on performance, dividend payments and the volatility of the energy sector, as well as the potential for devalued or stranded assets,” stated Samuelrich.
While Green Century has offered a fossil fuel free investing option with its Balanced Fund since 2005, it has seen a surge in institutional and individual investors looking to invest fossil free. In response, Green Century, with 350.org and Trillium Asset Management, produced “Extracting Fossil Fuels from Your Portfolio,” a guide to fossil fuel free investing that has become a tool for those who want to transition out of dirty energy.
Harvard Heat Week kicked off with a launch event at First Parish Church in Cambridge on Sunday evening with speeches from supporters ranging from Former Senator Timothy Wirth to 350.org co-founder Bill McKibben to Reverend Yearwood of the Hip-Hop Caucus and Harvard alumni and students.
Green Century Capital Management is the investment advisor to the first family of responsible and diversified fossil fuel free funds. Green Century also is regarded as a leader in shareholder advocacy to enable investors to make an impact with their investments by improving the environmental practices of companies. Most recently, Green Century worked with allied investors and organizations to secure zero deforestation policies in the palm oil supply chain.
More than a dozen impact investing and socially responsible investing firms from the Greater Boston area including Trillium Asset Management and Progressive Asset Management in Wellesley, MA were present.
Green Century was founded in 1991 by a partnership of environmental advocacy organizations, making it the only investment advisory firm with this ownership structure; 100% of the profits that Green Century Capital Management earns on its management of the Green Century Funds belong to its environmental advocacy organization owners, the Public Interest Research Groups (PIRGs).
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