Icing on the cake of a historic day in activism!
Symbolism? Certainly. Change? Definitely!
Breaking news over at the NY Times, in the lead story position of the newspaper’s website…
Rockefellers, Heirs to an Oil Fortune, Will Divest Charity From Fossil Fuels
By JOHN SCHWARTZ
NY TIMES
SEPT. 21, 2014
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 Tuesday’s opening of the United Nations climate change summit meeting in New York City, is part of a broader and accelerating initiative…
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…At the Rockefeller Brothers Fund, there is no equivocation but there is caution, said Stephen Heintz, its president. The fund has already eliminated investments involved in coal and tar sands entirely while increasing its investment in alternate energy sources.
Unwinding other investments in a complex portfolio from the broader realm of fossil fuels will take longer. “We’re moving soberly, but with real commitment,” he said.
Steven Rockefeller, a son of Nelson A. Rockefeller and a trustee of the fund, said that he foresees financial problems ahead for companies that have stockpiled more reserves than they can burn without contributing significantly to climate damage. “We see this as having both a moral and economic dimension,” he said…
Also see: Taking a Call for Climate Change to the Streets, NY Times, Lisa Foderaro, September 21, 2014
My sincerest respect and admiration for all of my fellow Kossacks who participated in today's events!
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