GHG Monitor
9/26/2014
IN INDUSTRY
The Rockefeller Brothers Fund announced early this week that is will divest from fossil fuels including coal and tar sands to better align its investments with the foundation’s Sustainable Development program goals. That shift will move forward “as quickly as possible,” the organization said in a release. “Given the structure of some commingled investment funds and investments in highly diversified energy companies, we recognize there may continue to be minimal investments in our portfolio in those energy sectors, but we are committed to reducing our exposure to coal and tar sands to less than one percent of the total portfolio by the end of 2014,” the release says. “As we take the steps to divest from coal and tar sands investments, we are also undertaking a comprehensive analysis of our exposure to any remaining fossil fuel investments and will work with the RBF Investment Committee and board of trustees to determine an appropriate strategy for further divestment over the next few years.”