NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, September 30, 2014

In announcing last week that it would purge its portfolio of fossil fuel investments, the Rockefeller Brothers Fund did more than make a financial decision; it joined a movement.

The fund became the latest and largest grant maker to sign on with Divest-Invest Philanthropy, an alliance of foundations that are, in their words, “divesting their assets in fossil fuels and investing in climate solutions and the new energy economy.”

Rockefeller Brothers Fund’s announcement signals a move toward the philanthropic upper crust for a movement often associated with campus activism.