On the eve of the UN
Climate Summit opening Tuesday in New York, heirs to the
Rockefeller family announced they will sell investments in
fossil fuels to reinvest in clean energy.
The family's vast fortune was built on Standard Oil.
The Rockefeller Brothers Fund is joining a philanthropic
movement pledging to get rid of a reported 50 billion dollars in
fossil fuel assets.
Some 180 institutions have joined the coalition over the
past few years as part of a global initiative called Global
Divest-Invest, which reportedly kicked off on university
campuses.
The UN climate change summit Tuesday will be attended by
120 heads of State and government.
It will vie to fill a near-empty fund to help the poor.
The Green Climate Fund is aimed at helping developing
nations with plans to curb growing greenhouse gas emissions and
confront heat waves, floods and rising seas in key efforts to
fight global warming.
Pledges however are reportedly expected to fall short of
hopes to raise 15 billion dollars this year.
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