The Rockefeller family, whose vast wealth derives from the oil business, will announce plans Monday to end investment in fossil-fuel industries by its $860-million philanthropic organization, reports The New York Times. The Rockefeller Brothers Fund is among 50 foundations making the pledge to divest from coal and oil on the eve of the United Nations climate-change summit starting Tuesday, according to Reuters.
They join a growing divestment movement that now encompasses some 650 wealthy individuals and 180 institutions—including foundations, religious organizations, universities, and local governments—with combined assets of more than $50-billion. “This is a threshold moment,’ said Ellen Dorsey, executive director of the Wallace Global Fund, which has led efforts to recruit philanthropic groups to the divestment cause. “This movement has gone from a small activist band quickly into the mainstream.”
We're sorry. Something went wrong.
We are unable to fully display the content of this page.
The most likely cause of this is a content blocker on your computer or network.
Please allow access to our site, and then refresh this page. You may then be asked to log in, create an account if you don't already have one, or subscribe.
If you continue to experience issues, please contact us at 571-540-8070 or cophelp@philanthropy.com