CASE STUDY How the Union of Concerned Scientists Overcame the Divestment Challenge

The Union of Concerned Scientists (UCS) successfully divested its approximately $32 million portfolio from fossil fuel companies over an 18-month period starting in late 2013. Despite using 'sustainability funds' and low-cost index funds, UCS discovered that fossil fuel producers were still embedded in its holdings. To resolve this, the organization partnered with Blackrock for a fossil-free fund and worked with Calvert Investments to create a custom low-cost product. UCS reports that it is now almost entirely divested, with less than 2 percent exposure remaining in emerging markets, demonstrating that midsize organizations can align their financial strategies with climate goals without compromising risk or return objectives.

• In late 2013, the Union of Concerned Scientists discovered that its approximately $32 million portfolio, including designated 'sustainability funds', still contained investments in fossil fuel producers embedded within index funds.
• UCS achieved near-total divestment over 18 months by utilizing a fossil-free fund from Blackrock and a custom-designed low-cost product from Calvert Investments.
• The organization remains exposed to fossil fuels by less than 2 percent, specifically within emerging markets where divestment is noted as being difficult.
• The case study concludes that midsize organizations employing conservative investment strategies can divest from fossil fuels without causing material changes to their risk or return objectives.

APA

Union of Concerned Scientists (2015). CASE STUDY How the Union of Concerned Scientists Overcame the Divestment Challenge. https://www.ucs.org/sites/default/files/attach/2015/06/divestment-case-study-union-of-concerned-scientists.pdf

Chicago

Union of Concerned Scientists. CASE STUDY How the Union of Concerned Scientists Overcame the Divestment Challenge. 2015. https://www.ucs.org/sites/default/files/attach/2015/06/divestment-case-study-union-of-concerned-scientists.pdf.

Wikipedia

{{cite report |author=Union of Concerned Scientists |title=CASE STUDY How the Union of Concerned Scientists Overcame the Divestment Challenge |date=June 2015 |url=https://www.ucs.org/sites/default/files/attach/2015/06/divestment-case-study-union-of-concerned-scientists.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{unionofconcernedscientists2015case, author = {{Union of Concerned Scientists}}, title = {{CASE STUDY How the Union of Concerned Scientists Overcame the Divestment Challenge}}, institution = {Union of Concerned Scientists}, year = {2015}, month = jun, url = {https://www.ucs.org/sites/default/files/attach/2015/06/divestment-case-study-union-of-concerned-scientists.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }