English Foundation Commits to Divest-Invest Pledge
The philanthropic fund set up by high-profile Queensland entrepreneur, Allan English, is the latest Australian Foundation to sign a global ‘invest-divest’ pledge to remove its investments in fossil fuels and switch to clean energy investments.
Foundation Chairman and Silver Chef Limited founder Allan English said the decision was taken to ensure that the Foundation’s investments were consistent with its support for cutting global carbon emissions to fight climate change.
The Foundation was created when English transferred 50 per cent of his shares in ASX-listed Silver Chef Limited to the charitable foundation. The Foundation is the largest shareholder of Silver Chef.
"The Foundation seeks to positively contribute to our world and investing in fossil fuels is not aligned to that objective,” English said.
“We support the divestment movement’s mission to offer leadership in building a clean energy future so that coming generations don’t suffer from our activities today.”
The McKinnon Family Foundation, a private ancillary fund that focuses on support for the environment, poverty alleviation and social enterprise development, set up by financier Dr John McKinnon and his wife Sue, has also signed the pledge.