As the COVID-19 pandemic and deaths of George Floyd, Breonna Taylor, and so many others at the hands of police have laid bare the inequality and racism endemic to U.S. society and the economy, Friends Fiduciary has been working across its operations for a more just, equitable, and inclusive world.
Friends Fiduciary joined other investors in asking companies to provide paid leave, maintain employment, and prioritize health and safety in the pandemic. It asked pharmaceutical companies to think carefully about how their actions will affect vulnerable communities, particularly when pricing products. And it continued working for racial justice, using its leverage to catalyze changes in corporate policies and practices that have particularly impacted people of color, including urging banks to sever ties with the private prison industry and voting against all directors of company boards without a woman and a person of color.
Giving from established donor-advised funds at Friends Fiduciary has increased dramatically. Over the past several months, Friends Fiduciary has worked with donors to get funds to nonprofits addressing food insecurity, homelessness, and racial justice.
After careful consideration of long-term sustainability, shareholder value, and care for creation, Friends Fiduciary recently announced that it is eliminating all fossil fuel stocks across its funds. More information about this decision, shareholder engagement work, and the planned giving program is available at the website.