Sixteen congregations of Dominican Nuns approached the investment firm Morgan Stanley to set up a new climate solutions fund that would invest in companies working towards the UN Sustainable Development Goals.
“We wanted this not just for ourselves but for other investors — not just faith communities,” says Sister Patricia Daly, a nun from New Jersey. “There are also healthcare systems and other private investors who have joined in this initiative.”
The nuns injected an initial $46 million to the fund “to find investment solutions which focus on climate change and aiding marginalized communities that are disproportionately impacted by global warming”. Today, thanks to investments from other sources, the fund is now at $130 million.