Sometimes even the rich do the right thing!
The Rockefeller family, which built its wealth on oil, is divesting its philanthropic fund of fossil fuel investments.
The Rockefeller Brothers Fund pledged Monday to divest itself of investments in coal and tar sands, promising to reduce that exposure to less than 1% of the total portfolio by year’s end.
The announcement comes one day before the United Nations General Assembly meets in New York to take on the subject of climate control.
The fund is worth $860 million.
Game over for the Koch/Cheney alliance.
They wouldn’t be doing it if it didn’t make financial sense – can it mean that a trend is coming? They’ll get brownie points if it helps others follow their lead.