The Rockefeller Family Fund won’t continue supporting oil production. It has decided to get rid of its own institutions that are connected with this sphere. Rockefellers’ representatives reported about this decision on the fund’s official website.
"When the whole international community is striving for elimination from the need of using fossil fuels, there is no sense to continue keeping our investment in these companies," the fund’s announcement reads.
The organization believes that there are no motives for doing further exploration in hydrocarbon deposits. This will be an important condition for the future existence of the whole mankind, because it reduces all the possible impact on the ecosystem.
The Rockefeller Fund is going to keep 1% of all the investments in companies connected with coal and oil production. In particular, the company is to get rid of ExxonMobil.
The representatives of the fund claim that the company is notorious for its almost criminal activities. They told about ExxonMobil’s manipulation of public opinion on some issues of climate changes. On the other hand, the company’s management spent millions affecting the climate in the most negative way.
According to the media reports, the Rockefellers generally have 130 million of assets in companies engaged in fuel development. John Rockefeller made his wealth due to the Standard Oil which was ExxonMobil’s predecessor.
The Rockefeller Family Fund was established in 1967 as a charity dedicated to the protection of the environment and the problems of the world community.