Washington – November 10, 2026 -- More than 1,700 institutions holding approximately $40 trillion in assets have made fossil-fuel divestment commitments, a movement that helped earn Dr. Ellen Dorsey, Executive Director of Wallace Global Fund (WGF), a place on TIME's 2026 TIME100 Climate list of the 100 most influential climate leaders.
WGF's fossil-free endowment delivered top-decile returns
WGF moved its entire endowment out of fossil fuels and other harmful industries in 2010 and into a 100% mission-aligned portfolio. The portfolio posted top-decile investment returns in its last full decade. That record challenges the argument that institutions must choose between financial performance and climate commitments.
Dorsey extended the approach beyond WGF's own assets. The fund backed early organizing, convened student activists and helped build the movement's infrastructure. She then organized philanthropy as a sector within it, and hundreds of leading foundations are now among the signatories.
WGF raised its payout to 20% and will spend its endowment to zero in December 2026
WGF increased its annual payout to 20% in 2020. Its spend-out is scheduled for completion in December 2026, with resources directed toward movements confronting threats to democracy, human rights and the planet.
Dorsey frames the issue as one of control over capital. "It is a power problem," she said of the climate crisis, arguing that it cannot be solved while the industries driving it keep receiving financing.
WGF funds frontline projects in Africa
Grantmaking includes SHINE Collab, a women-led initiative advancing clean-energy access across Africa. It also covers the Community Just Transition Centers and Fund in South Africa, which places communities at the center of developing and financing local energy-transition and climate-resilience solutions.
Dorsey will launch Dorsey Advisors after the spend-out
Dorsey is preparing to launch Dorsey Advisors, an advisory practice focused on climate, capital, human rights and power. She plans to advise leaders and organizations working to shift public and private capital away from harmful industries and toward communities, workers and climate and social justice solutions.