"Museums That Seek to Better Society Within Their Buildings Can Do So Outside of Them"
Museums embracing sustainable investing: an article in Artsy by Anna Raginskaya, a financial advisor with the Blue Rider Group at Morgan Stanley, makes that case saying, "As endowed organizations, museums have a powerful voice that can parallel the stories told within their galleries."
Museums, according to Raginskaya, can leverage their financial power to invest in companies that have positive environmental and social impacts. "However, many museum board members continue to push back against sustainable investing, claiming it is their fiduciary responsibility to protect the potential of doing well over the advantages of doing good," she writes.
Institutions that invest according to their values are not only principled—they are prudent. What future value will cultural institutions have if their very existence is imperiled by a changing climate and regressive social dynamics? Museums that seek to better society within their illustrious buildings can do so outside of them, as well. They can start by considering how they manage their endowments.
Image: Pixabay / Hermann Traub