RT In a symbol of the times, America’s biggest “oil family”, the Rockefellers, has announced it will get rid of any investments or holdings in fossil fuels from its $860 million charitable fund, and target clean energy instead. The announcement is part of a $50 billion pledge by over 180 institutions to cut oil, natural gas, and coal from their portfolios and redirect investment into clean energy. “Our immediate focus will be on coal and tar sands, two of the most intensive sources of carbon emissions,” the statement said, adding that investment in the two sectors will be reduced to less than 1 percent of the total portfolio by the end of 2014. Coal and tar sands are two of the biggest carbon emitters. The Rockefeller Brothers Fund was established in 1940 from wealth acquired through the family’s company Standard Oil, once the world’s largest oil refiner. Monday’s announcement comes ahead of today’s United Nations summit on climate change, where 120 global leaders, including...
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