Eighteen months ago, the people who manage the endowment at the John D. and Catherine T. MacArthur Foundation got some bad news: Investments they had made in funds managed by EnerVest, a Houston-based private equity firm that operates more than 33,000 oil and gas wells across the US, had plummeted in value to almost nothing. …
In an opinion piece for the Chronicle of Philanthropy last spring headlined Foundations Must Move Fast to Fight Climate Change, Larry Kramer, the president of the William and Flora Hewlett Foundation, and Carol S. Larson, the president of the David and Lucile Packard Foundation, wrote: Climate change is the defining issue of our day. It is an …
Nonprofit Chronicles 