Rockefeller Family Fund Says No To Fossil Fuels
The Rockefeller Family Fund has promised to divest all of its money from fossil fuel companies—which currently means 6% of the fund’s $130M portfolio.
The RFF says it doesn’t make ethical or financial sense to keep its money in the fossil fuel industry.
"We hope that in our small way this can send a message to similarly concerned individuals that the climate crisis is real," RFF director Lee Wasserman told ABC News.
The RFF's move comes less than a year after the Rockefeller Brother's Fund said it was divesting the $45M it had in fossil fuels, but the $4B Rockefeller Foundation has yet to jump on the divestment bandwagon.
With oil prices hitting rock-bottom this year, a warming planet is one reason to take money out of fossil fuels—although some say those prices are headed for a turnaround over the next two years. [ABCNews]