As a bleary-eyed new father and state employee, in 2011 I accepted the $500 Alfond college education grant for my daughter. I had no choice on how it was invested and came to find out recently it is all invested with BlackRock, considered the largest driver of climate change through its investments in oil, gas, and deforestation, as well as the largest investor in weapons manufacture.
Wow! We have our children invest in the potential destruction of our planet with the idea that it is to create a better future for them.
I recently called Finance Authority of Maine (FAME) regarding my child’s Alfond Grant investment and options to move it to socially responsible investments. There was no choice available, but because it was before July 1, 2013 I have the option to have the funds rescinded and taken away to clear my conscience and the future conscience of my daughter.
The names of all kids born in Maine hospitals, after July 1, 2013, are automatically attached to BlackRock investments with the Alfond Grant and I was told by FAME their parents can’t get them out of it or have the investments changed to be more socially responsible.
Before I ask my wife and daughter about giving the money back, it’s now just over $1,000, I’ll give a go at writing to FAME and myalfondgrant.org to request different options and maybe you could too.
Laren Corrin
Portland
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