In an unexpected development this week, the Rockefeller family has announced it is planning to withdraw its philanthropic fund’s fossil fuel investments and move into clean energy instead.
Text: Dr. Rath Health Foundation
Having made one of the world’s largest fortunes through the oil business over the past 140 years or so, they claim they are preparing to slash the Rockefeller Brothers Fund (RBF) holdings in fossil fuels to less than one percent of its total portfolio and reinvest in “clean energy technologies and other business strategies that advance energy efficiency”. Towards this goal, a statement published on the RBF website, which oversees almost $900m of investments, describes an intention to divest coal and tar sands assets “as quickly as possible”.
All of which causes us to wonder whether John D. Rockefeller’s descendents are now perhaps dreaming of achieving a comparable global control of clean energy technologies to that which he himself once had over the production, transporting, refining and marketing of oil? Whilst only time will tell, we suggest it would take a brave man to bet against this.