Rockefeller Family Reject Fossil Fuels
Author: Jonathan Whiting
Published: Wednesday, 24 September 2014
On the eve of the UN climate change summit in New York, The Rockefeller family, renowned for making a fortune in the oil industry, announced that they were moving away from fossil fuels and instead investing in clean, renewable energy.
In the landmark move, the Rockefeller Brothers Fund joined forces with some 650 individuals and 180 institutions, committing to withdraw their funds of around $50bn (£31bn) from fossil fuel assets.
The family's vast wealth originates from two Rockefeller brothers, John and William, revolutionising the petroleum industry in the late 19th and early 20th centuries. The remaining members of the Rockefeller family are still widely considered to be one of the most powerful families in the world.
The announcement is a huge boost to the renewable energy industry and sends a clear message to the world’s leaders meeting at the UN climate change summit to discuss how they can reduce global emissions and tackle climate change.
Ban Ki-moon, UN secretary-general, said the the summit was vital because ‘the effects of climate change are already widespread, costly and consequential’.
The move by the Rockefeller family to support renewable energy follows the world’s largest march on climate change to date. Leonardo DiCaprio and Sting were among around 100,000 protesters in New York at the weekend. Similar events were held in 166 countries worldwide; Emma Watson, Dame Vivienne Westwood and musician Peter Gabriel took part in the London march.
A spokesperson for The Eco Experts said: “It’s great to see the growing momentum towards renewable energy and we look forward to more individuals and institutions investing in clean technology. The announcements sends a clear message that the time has come to move away from fossil fuels and instead invest in renewable energy; we hope the world’s leaders take note as they meet to discuss the future of our planet.”