Its trucking roots in the past, Jubitz Foundation jettisons gas stocks
By Andy Giegerich
Digital Managing Editor
Al Jubitz' foundation has lately become more concerned about climate change and other environmental issues.
While the Jubitz family’s name may be synonymous with fueling mammoth diesel trucks, operators of the Jubitz Family Foundation are unloading all of their fossil fuel stocks.
The Jubitz Family Foundation revealed it wants to divest its fossil fuel stocks to better align its other portfolio investments and to fight climate change. The Foundation, which manages about $14 million in assets, was inspired by the work of Bill McKibben’s 350.org.
As a result it will remove all oil, gas, coal and consumable fuel stocks from its portfolio.
It should be noted that the Jubitz Family Foundation is independent from the Jubitz Corp., which provides transportation services at its mammoth North Portland location. Al Jubitz, whose father founded Jubitz Corp., started the foundation in 2001 after the company sold the trucking data company DAT Services.
The Foundation has lately turned its attention to climate issues. Through the influence of McKibben’s group, the philanthropy group sought options that would fit its ideals while avoiding penalties to its endowment.
The Foundation worked with CTC Consulting to analyze the risk impact of eliminating carbon-related holdings from its U.S. stock portfolio. The result, CTC found, was insignificant.
“We want to do all we can to protect the planet and encourage a shift towards renewable energy,” said Al Jubitz, the Foundation’s president. “For many years the Foundation has committed to a socially conscious investment strategy. Divesting in carbon was a further step in aligning our investments with our mission.”
Al Jubitz and Ray Jubitz, the group’s executive director, have become advocates of alternative vehicles, with Al Jubitz owning one electric vehicle and both Foundation leaders owning Priuses.
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