22 Sep '14, 5pm

Oil Rich Rockefellers to Divest Charitable Fund From Fossil Fuels

Oil Rich Rockefellers to Divest Charitable Fund From Fossil Fuels

in alternative energy sources. In 2013, the fund also awarded over $6 million in grants to sustainable development initiatives . Today’s announcement is part of the fund’s efforts “to better align its endowed assets with its mission.” In a statement the fund announced : “The Fund has begun a two-step process to divest from investments in fossil fuels, first focusing on limiting its exposure to coal and tar sands, with a goal to reduce these investments to less than one percent of the total portfolio by the end of 2014. The Fund is also analyzing in detail its remaining fossil fuel exposure and will develop a plan for further divestment as quickly as is prudent over the next few years.” As fund trustee Steven Rockefeller told the New York Times , “We are moving soberly, but with real commitment.”

Full article: http://inhabitat.com/rockefellers-to-divest-charitable-fu...

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