Fossil Free Funds allows you to look up mutual funds and see how much of the fund’s assets are invested in fossil fuel stocks.
As investors look to protect themselves from the economic risks of climate change, fossil-free investing continues to boom. To date, more than 50,000 individuals have signed the Divest-Invest pledge to rid their portfolios of risky fossil fuel stocks.
But before you can divest, you have to know what you own. If you are invested in mutual funds or have an employer-sponsored retirement plan like a 401(k), it’s nearly impossible to know what companies are inside the funds you’re invested in. If you don’t know what you own, how can you fulfill your divestment pledge to own what you own?
That’s where Fossil Free Funds comes in. We decided it was time for people who aren’t financial experts to know how much of their money was invested in unsustainable risky fossil fuel stocks. Fossil Free Funds is a search platform that enables users to look up mutual funds and see the fossil fuel extraction companies, service industries, pipeline companies, and fossil-fired utilities lurking inside.
Using financial data provided by Morningstar and Fossil Free Indexes, the web tool uses standard industry classifications to screen mutual fund holdings for fossil fuel companies, including The Carbon Underground 200™ which tracks the top 100 coal and 100 oil/gas carbon reserve holders. With just a few clicks you can also see if your funds hold fossil-fired utilities, fracking companies, or companies building infrastructure to support the fossil fuel industry. And when you’re ready for a change, you can use Fossil Free Funds to find clean, green funds as alternative investments.
Work is underway to expand Fossil Free Funds into Hong Kong and the U.K. We’re also working with partners to integrate more data, including comprehensive carbon footprinting and performance analysis. With Fossil Free Funds, you can finally know what you own so you can own what you own.
Visit www.fossilfreefunds.org today to get started greening your investments!