According to new reports, the Rockefeller family, which made its vast fortune from oil, is to sell investments in fossil fuels and reinvest in clean energy.
The Rockefeller Brothers Fund is joining a coalition of philanthropists pledging to rid themselves of more than $50 billion in fossil fuel assets.
The announcement will be made today, September 22, a day before the UN climate change summit opens.
Some 650 individuals and 180 institutions have joined the coalition.
It is part of a growing global initiative called Global Divest-Invest, which began on university campuses several years ago, the New York Times reports.
Pledges from pension funds, religious groups and big universities have reportedly doubled since the start of 2014.
Rockefeller Brothers Fund director Stephen Heintz said the move to divest from fossil fuels would be in line with oil tycoon John D. Rockefeller’s wishes.
The Rockefeller family is to sell investments in fossil fuels and reinvest in clean energy
“We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy,” Stephen Heintz said in a statement.
The philanthropic organization was founded in 1940 by the sons of John D. Rockefeller. As of July 31, 2014, the fund’s investment assets were worth $860 million.
“There is a moral imperative to preserve a healthy planet,” Valerie Rockefeller Wayne, a great-great-granddaughter of John D. Rockefeller and a trustee of the fund, is quoted by the Washington Post as saying.
A climate change summit is due to start on September 23 at the UN headquarters in New York, with 125 heads of state and government members expected to attend.
It is the first such gathering since the unsuccessful climate conference in Copenhagen in 2009.
UN Secretary General Ban Ki-moon hopes leaders can make progress on a universal climate agreement to be signed by all nations at the end of 2015.
On September 21, hundreds of thousands of marchers took to the streets in more than 2,000 locations worldwide, demanding urgent action on climate change and calling for curbs on carbon emissions.
Business leaders, environmentalists and celebrities also joined the demonstrations, which were organized by The People’s Climate March.
Adam Victor, a New York businessman, claims that Jill Kelley was so eager to close a billion-dollar business deal that the Florida socialite stood up her own husband on their anniversary.
Jill Kelley reportedly met Adam Victor at the Republican National Convention in Tampa. Shortly after they were introduced by mutual friend Don Phillips, the two began to talk business.
Adam Victor is the president and CEO of TransGas Development Systems, a New York-based firm dedicated to the pursuit of clean energy.
Jill Kelley claimed that in her capacity as honorary consul for South Korea, she could help Adam Victor set up a coal plant there.
Emails between Jill Kelley and Adam Victor exclusively obtained by ABC News revealed how Kelley doggedly pursued the deal.
At one point, Jill Kelley emailed Adam Victor: “Adam, I’m on my flight. It was wonderful to meet with you. I was quite impressed learning about the project to say the least.
“I’m emailing around some contacts, calling in favors, and totally anxious to take this to the next step. It has HUGE potential. It just needs a catalyst like me. :-)”
Adam Victor, a New York businessman, claims that Jill Kelley was so eager to close a billion-dollar business deal that the Florida socialite stood up her own husband on their anniversary
While wheeling and dealing with Adam Victor, Don Phillips claimed to ABC that Jill Kelley wasn’t interested in moving forward, telling him: “As a result of my personal investigations and business intelligence this is just not going anywhere, Don, and you just don’t want to associate with [Victor].”
But Jill Kelley soon emailed one of Adam Victor’s employee, saying she was blowing off her husband Scott on their anniversary so that she could speak more about the South Korea deal.
The email shown to the network read: “[M]y husband is in agreement with me canceling our 13th Anniversary dinner plans. Please call me.”
But the deal apparently collapsed when Jill Kelley informed Adam Victor of the commission she was hoping to take in for helping to complete the deal – a whopping 2%, or $80 million.
Adam Victor’s next email informed Jill Kelley: “The suggested fee you have asked for is so out of market, I have no way of working out any acceptable deal with you. You should not contact anyone on our behalf.”
He said he was told by Jill Kelley that David Petraeus had set her up as an honorary consul to South Korea, a claim refuted by the general’s longtime spokesman, retired Army Col Steve Boylan.
Don Phillips, Jill Kelley’s friend, also told ABC that she has never sought any benefits from her friendship with the disgraced general.
Jill Kelley is the woman who blew the lid off the Petraeus affair and ensuing scandal after she received threatening emails from the generals mistress and biographer, Paula Broadwell.
It was revealed on Tuesday that the Florida socialite took multiple flights aboard military aircraft on the taxpayers’ dime.
Jill Kelley, 37, even reportedly flew to Washington, DC, with General John Allen – the military commander she is said to have exchanged tens of thousands of emails with while he was in Afghanistan.
It is not known why Jill Kelley flew to Washington DC with John Allen but it has emerged that in recent months she has had three visits to the White House.
The mother of three from Tampa has so far refused to comment publicly on her role in the scandal that ended the career of CIA Director David Petraeus and put the distinguished career of General John Allen in jeopardy.
The commander of the coalition forces in Afghanistan is under investigation for “flirty” emails said to number as many as 30,000 that he exchanged with Jill Kelley.
An investigation by 10 News Tampa has revealed that Jill Kelley, whose complaint over threatening emails revealed David Petraeus’ affair, has enjoyed several trips on military planes.