Rockefellers, Heirs to an Oil Fortune, Will Divest Charity From Fossil Fuels. edited
Last edited Mon Sep 22, 2014, 01:24 AM - Edit history (1)
John D. Rockefeller built a vast fortune on oil. Now his heirs are abandoning fossil fuels.
The family whose legendary wealth flowed from Standard Oil is planning to announce on Monday that its $860 million philanthropic organization, the Rockefeller Brothers Fund, is joining the divestment movement that began a couple years ago on college campuses.
The announcement, timed to precede Tuesdays opening of the United Nations climate change summit meeting in New York City, is part of a broader and accelerating initiative. . .
edit: The university with the biggest endowment, Harvard, has declined to divest, despite pressure from many students and outside organizations.
Drew Gilpin Faust, Harvards president, has issued statements that she and her colleagues do not believe that divestment is warranted or wise, and argued that the schools $32.7 billion endowment is a resource, not an instrument to impel social or political change.
Stanford recently announced it would divest its holdings in the coal industry; Yale Universitys investment office asked its money managers to examine how its investments affect climate change and to look into avoiding companies that do not take sensible steps to reduce greenhouse gas emissions. The announcement did not satisfy students pressing for divestment.
http://www.nytimes.com/2014/09/22/us/heirs-to-an-oil-fortune-join-the-divestment-drive.html?hp&action=click&pgtype=Homepage&version=LedeSum&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0
NYC_SKP
(68,644 posts)Mz Pip
(27,451 posts)They are high profile so maybe people will pay attention.
He'll will freeze over before the Koch brothers divest of oil.
elleng
(130,976 posts)littlemissmartypants
(22,695 posts)freshwest
(53,661 posts)elleng
(130,976 posts)'The Privatization of Water: Nestlé Denies that Water is a Fundamental Human Right.'
http://www.globalresearch.ca/the-privatisation-of-water-nestle-denies-that-water-is-a-fundamental-human-right/5332238
Boycott the bastards.
freshwest
(53,661 posts)edgineered
(2,101 posts)They announce now, acting later to sell their oil stocks just as the next oil crisis from the hostilities drive prices up. imagine it might be a short war so they can buy them back cheap.
Uncle Joe
(58,369 posts)Thanks for the thread, elleng.
Uncle Joe
(58,369 posts)writing off a livable, sustainable environment as being necessary for her school to thrive?
Drew Gilpin Faust, Harvards president, has issued statements that she and her colleagues do not believe that divestment is warranted or wise, and argued that the schools $32.7 billion endowment is a resource, not an instrument to impel social or political change.
Hulk
(6,699 posts)Harvard NEEDS that money. Perfect example of unbridled greed.
66 dmhlt
(1,941 posts)Those days are long gone, probably never to return in my lifetime.
Sad ... very sad what the Rethuglican Party has become
elleng
(130,976 posts)and worse than sad, tragic, seriously damaging to the country and our way of governing.