Rockefeller Divests From Fossil Fuels & Drops Exxon Like a Bad Habit

Susanne Posel (OC) : The Rockefeller Family Fund (RFF) have revealed a divestment plan to take their money out of fossil fuels because they feel that “we must keep most of the already discovered reserves in the ground if there is any hope for human and natural ecosystems to survive and thrive in the decades ahead.”

Rockefeller_Fossil Fuels_ExxonCurrently, only 6% of the RFF’s holdings are in fossil fuel investments. The fund has already divested from ExxonMobil, coal, and tar-sand corporations. Two years ago the Rockefellers joined the Global Divest-Invest Coalition (GDIC) and are divesting a total of $50 billion from fossil fuel investments along with other leading petrol corporations.

For the past 3 years, the GDIC has collected 650 individuals and 180 institutions with 50 new foundations, to total $50 billion in assets that will be rerouted to other endeavors.

Stephen Heintz, hier to Standard Oil (formerly owned by John D. Rockefeller) and the Rockefeller Brothers Fund are among those who are part of the GDIC.

Heintz explained: “[We will] be moving out of fossil fuels and investing in clean, renewable energy. We are quite convinced that if he were alive today, as an astute businessman looking out to the future.”

Standard Oil is taking this “important symbolic” action to make “a moral case” as well as an “economic” one to salvage their corporation’s profits. Instead of investing in petrol, Standard Oil has focused on hydraulic fracturing (fracking) as is sanctioned by the UN as the eco-friendly replacement for petrol across the globe.

The RFF was created from the fortune of John D. Rockefeller, and has since funded efforts in environmentalism, women’s rights, and civic watchdogging with a $130 million endowment.

According to a statement from the RFF: “We would be remiss if we failed to focus on what we believe to be the morally reprehensible conduct on the part of ExxonMobil… Appropriate authorities will determine if the company violated any laws, but as a matter of good governance, we cannot be associated with a company exhibiting such apparent contempt for the public interest.”

ExxonMobil is a decedent from the Rockefeller’s Standard Oil Company (SOC), and in response to the RFF, the company said: “It’s not surprising that they’re divesting from the company since they’re already funding a conspiracy against us.”

ExxonMobil claims there is a conspiracy against them; however nothing could be further from the truth.

Last year media report surfaced from an email from an ExxonMobil climate expert shows that the corporation knew the connection between their industry and climate change back in 1981, and spent nearly 30 years lobbying against it and promoting climate change denial.

This email explains how ExxonMobil devised a way to fight against carbon taxes because the idea would hurt their profit margin.

Lenny Bernstein, chemical engineer and former in-house expert of climate change for ExxonMobil, wrote: “Exxon first got interested in climate change in 1981 because it was seeking to develop the Natuna gas field off Indonesia. This is an immense reserve of natural gas, but it is 70% CO2,” or carbon dioxide, the main driver of climate change.”

Bernstein stated in emails that when ExxonMobil considered the “carbon Bomb” the development of the south-east Asian gas field would become, they ignored the potentials and pressed forward with production.

Publicly, ExxonMobil took the position of climate denial, regardless of it’s founding “family” insistence that climate change is real. Instead, ExxonMobil began financing climate denying scientists, researchers and think tanks to the tune of $30 million .

Reports state ExxonMobil has acknowledged and admitted that climate change poses risks; however the corporation firmly denies funding climate change denial groups.

Previous investigations into Wei-Hock Soon, astrophysicist for the Harvard-Smithsonian Center (HSC), being paid by oil and gas corporations including ExxonMobil for climate denial science has recently come to light.

Soon’s work has been the cornerstone of climate denial by Senator Jim Inhofe, the man who threw a snowball onto the senate floor claiming to have disproved global warming.

Susanne Posel, Occupy Corporatism

Source Article from http://nsnbc.me/2016/03/24/rockefeller-divests-from-fossil-fuels-drops-exxon-like-a-bad-habit/

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