GWCF establishes sustainable portfolio
Photo | Courtesy
Greater Worcester Community Foundation President and CEO Barbara Fields, left, and board chairwoman Carolyn Stempler pictured at an event at ArtsWorcester.
The board of directors of the Greater Worcester Community Foundation has authorized the creation of a new portfolio to focus on sustainable investing.
The environmental, social and governance portfolio will allow those who donate to channel their funds into sustainable investments. Stock selection is based on the ESG ratings of companies, with a priority given to those with strong sustainability scores. Companies involved in businesses deemed to have a negative social and environmental impact are excluded from the portfolio.
The portfolio otherwise functions in the same way as other GWCF investment option for donors, such as allowing grants to be made from the funds honoring the donor’s wishes in perpetuity. However, the portfolio ensures the values of donors are reflected not only in the work being done in Worcester, but also how the money is being put to work, according to a release from the GWCF.
“The foundation is excited to offer philanthropists a new way to give that aligns with and reflects their personal values,” said Barbara Fields, CEO of GWCF. “The ESG option empowers donors to make investments that increase their impact here in Worcester as well as globally.”
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