Monday, May 18, 2015
Rockfeller Brothers Fund Weighs in on Motivation for Fossil Fuel Divestment
Beyond the metrics, Dorsey said, a big reason for divestment for the Wallace fund and 67 other charitable endowments, particularly those supporting environmental programs, was to be ethically and financially consistent.
"Our investments were undermining every grant dollar we made," said Geraldine Watson, vice president of finance for the Rockefeller Brothers Fund, said at a recent divestment conference in Denver.
In September, the Rockefeller fund, built on oil wealth, said it would divest from coal and tar sands and analyze other fossil fuel-related assets....