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Brief -- Rockefeller Family Fund

The Rockefeller Family Fund plans to divest from fossil fuels and eliminate holdings in ExxonMobil Corp. Predecessor Standard Oil Co. Inc. was founded in 1870 by John D. Rockefeller Sr. The U.S.-based endowment, which has about $130 million in total assets, also plans to divest coal and Canadian oilsands holdings. Because of the threat posed to the the planet, "there is no sane rationale for companies to continue to explore for new sources of hydrocarbons," the fund stated. The fund, which for years has called on ExxonMobil to make governance changes and boost spending on renewables, also said the company’s conduct regarding climate change appears to be “morally reprehensible.” 

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