Big Oil Heirs to Say Goodbye to Fossil Fuels


John D. Rockefeller made his fortune in oil and at one point controlled the refining of almost all the oil produced in the U.S. through his company, Standard Oil. But now his heirs are taking Rockefeller family money out of fossil fuels.

The Rockefeller Brothers Fund (RBF), a private charitable foundation with $860 million worth of assets as of July 31, 2014, announced Monday that the fund would divest from fossil fuels. The news conference announcing the divestment took place in New York City and included South African Archbishop Desmond Tutu, actor Mark Ruffalo, co-founder of Generation Investment David Blood and Agnes Abuom, principal at the World Council of Churches, in addition to Stephen Heintz, RBF president.