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Rockefeller Foundation Plans to Divest Fossil Fuel Holdings

  • Process is already underway for $5 billion foundation
  • First step: cut fossil fuel holdings to less than 1%
The Chevron Corp. Permian Trove Is Changing U.S. Shale
Photographer: Daniel Acker/Bloomberg

The Rockefeller Foundation, established more than a century ago by oil magnate John D. Rockefeller, plans to divest from fossil fuels as it commits more capital to green investments.

Under the plan, already underway, Rockefeller is expected to more than halve the portfolio’s total exposure to fossil fuels to less than 1% in the near future, according to an email. No timetable was given for the full divestiture.