Teachers College Trustee Valerie Rockefeller Wayne was much in the news this week as the Rockefeller Brothers Fund, which Wayne chairs, announced plans to begin divesting itself of fossil-fuel stocks because of concerns about climate change.

In 1870, Wayne’s great-great grandfather John D. Rockefeller Sr. cofounded the Standard Oil Company, which subsequently gave rise to Exxon, Mobil, Amoco and Chevron.  

“There is a moral imperative to preserve a healthy planet,” said Wayne.

With the announcement, which came on the eve of the United Nations climate change summit meeting in New York City, the Rockefeller Brothers Fund joins hundreds of philanthropies, religious organizations, pension funds, local governments and private investors who have pledged to divest more than $50 billion worth of assets related to fossil fuel companies.

Pointing to the conservation activities of her ancestor, Wayne said the decision to divest is “a natural progression” for her family,” adding that John D. Rockefeller Sr. would likely be “investing in alternative energy sources and renewables right now.”

Additional Links:

• Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels (The New York Times)
  
• Big Oil’s heirs join call for action as climate summit opens (The Washington Post)
  
• The Rockefellers’ huge climate announcement (MSNBC)
  

Published Tuesday, Sep. 23, 2014