ROCKEFELLERS DIVEST OIL FOR NEW ENERGY

Divestment Statement

Sept, 2014 (Rockefeller Brothers Fund)

“…[In 2010, the Rockefeller Brothers Fund (RBF)] board of trustees approved a commitment of up to 10 percent of the endowment to investments…[in] clean energy technologies and other business strategies that advance energy efficiency, decrease dependence on fossil fuels, and mitigate the effects of climate change…Given the RBF’s deep commitment to combating climate change, the Fund is now committing to a two-step process to address its desire to divest from investments in fossil fuels. Our immediate focus will be on coal and tar sands, two of the most intensive sources of carbon emissions…[W]e are committed to reducing our exposure to coal and tar sands to less than one percent of the total portfolio by the end of 2014…[We] will work with the RBF Investment Committee and board of trustees to determine an appropriate strategy for further divestment over the next few years…[O]ur divestment from fossil fuels, which is now underway, will be accomplished through a careful process of evaluating our exposure and a phased approach that proceeds as quickly as is prudent…” click here for more

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