Rockefeller Family Fund divesting from fossil fuels

“While the global community works to eliminate the use of fossil fuels, it makes little sense—financially or ethically—to continue holding investments in these companies. There is no sane rationale for companies to continue to explore for new sources of hydrocarbons. The science and intent enunciated by the Paris agreement cannot be more clear: far from finding additional sources of fossil fuels, we must keep most of the already discovered reserves in the ground if there is any hope for human and natural ecosystems to survive and thrive in the decades ahead.”

“We would be remiss if we failed to focus on what we believe to be the morally reprehensible conduct on the part of ExxonMobil. Evidence appears to suggest that the company worked since the 1980s to confuse the public about climate change’s march ...” – Rockefeller Family Fund

http://www.rffund.org/divestment / decision to divest The Rockefeller Family Fund proud announce intent divest from fossil fuels as quickly as possible complications of modern finance increasingly dominated alternative investments hedge funds global community eliminate the use of fossil fuels makes little sense financially ethically continue holding investments companies no sane rationale continue explore new sources hydrocarbons science intent enunciated Paris agreement finding additional sources of fossil fuels must keep most of the already discovered reserves in the ground human and natural ecosystems survive thrive remiss morally reprehensible conduct ExxonMobil evidence company worked since the 1980s confuse public climate change’s march spending millions fortify infrastructure climate change’s destructive consequences track new exploration opportunities Arctic’s ice receded appropriate authorities company violated any laws as a matter of good governance cannot be associated company exhibiting apparent contempt for the public interest Board instructed its advisors eliminate holdings of ExxonMobil all coal tar sands companies portfolio exposures investment entire portfolio Family Fund’s Finance Committee divestment work suitable alternatives Socially Responsible Investing options oil industry ExxonMobil past time for all people of good will goodwill deep interdependence between humanity’s future and the health of our natural systems /