Heirs to Rockefeller oil fortune divest from fossil fuels over climate change

www.theguardian.com/environment/2014/sep/22/rockefeller-heirs-divest-fossil-fuels-climate-change

Suzanne Goldenberg
Sept. 22, 2014

The heirs to the fabled Rockefeller oil fortune withdrew their funds from fossil fuel investments on Monday, lending a symbolic boost to a $50bn divestment campaign ahead of a United Nations summit on climate change.

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With Monday’s announcement, more than 800 global investors – including foundations such as the Rockefeller Brothers, religious groups, healthcare organisations, cities and universities – have pledged to withdraw a total of $50bn from fossil fuel investments over the next five years.

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In addition to the Rockefellers, the World Council of Churches, which represents some 590 million people in 150 countries – also pulled its investments from fossil fuels on Monday.

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About 30 cities have also chosen to divest, including Santa Monica and Seattle.

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A number of universities have also started to cut their ties with fossil fuel – with Stanford University dropping coal holdings from its $18bn endowment.

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