Rockefellers to divest fossil fuel assets
The Rockefeller Family Fund has said that it will divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp |
Though only a sliver of the endowment's modest $US130 million ($171 million) in assets is invested in fossil fuels, the move is notable because a century ago John D. Rockefeller Snr made a fortune running Standard Oil, a precursor to Exxon Mobil. The charity said it would also divest from coal and Canadian oil sands. |
In late 2014, another fund associated with the family, the Rockefeller Brothers Fund (RBF), said it would divest from fossil fuels. |