Rockefellers Move to Clean Energy
Posted on 09-24-2014
Just a day after the People’s Climate March and one day before the UN Summit Hearing on climate change, the Rockefellers announced they would be divesting funds from anything fossil-fuel related to re-invest funds into clean energy. The Rockefeller Brothers Fund was valued at $844 million at the end of last year.
John D. Rockefeller founded the Standard Oil Company in 1870, making him the wealthiest man in the United States. ExxonMobile, Chevron and Conoco are the successors of the original Standard Oil Company. In 1940, the Rockefeller Brothers Fund was established from wealth acquired by the Standard Oil Company. In 2013, the Rockefeller charity gave over $6 million in grants for sustainable developing projects.
The Rockefeller family is joining over 49 foundations and hundreds of wealthy individuals in the pledge to divest any holdings in the top 200 oil and gas producers around the world. Stephen Heintz, President of the Rockefeller Brothers Fund stated, “We are quite convinced that if he (John D. Rockefeller) were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy.”
Did You Know?
The Yellowstone National Park wildfires of 1988 were estimated to have produced 77.9 billion megajoules of energy over the fire's 71-day life. The wildfires' energy was equivalent to 22 million megawatt-hours, nearly as much as California and Oregon consumed in December 2011.