Why are the Rockefellers leaving the oil business?

Why are the Rockefellers leaving the oil business?


Rockefeller Center

Image source, Getty

The heirs of the Rockefeller family, who made their fortune on oil, will sell their fossil fuel investments to reinvest in clean energy.

The announcement was made by Stephen Heintz, president of the Rockefeller Brothers Fund, on Monday on the eve of the climate change summit at the United Nations headquarters in New York, and in the aftermath of massive marches around the world, which have ended up in the same town.

The Fund joins a coalition of philanthropists committed to divesting more than $ 50 billion in fossil fuel assets as part of this initiative.

Some 650 people and 180 institutions make up the coalition.

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