\u201cWe would be remiss if we failed to focus on what we believe to be the morally reprehensible conduct on the part of ExxonMobil,\u201d<\/em> the family fund wrote in its announcement<\/a>.<\/p>\n Set up in 1967 by descendants of John D. Rockefeller, the charity has long invested its funds in the oil industry up until now.<\/p>\n \u201cThese are not decisions, therefore, that have been taken lightly or without much consideration of their import,\u201d<\/em> the fund wrote after reviewing its investment strategies.<\/p>\n Read more<\/p>\n The decision stems from a particular case involving ExxonMobil\u2019s controversial decades-old research on fossil fuels and climate change.<\/p>\n \u201cEvidence appears to suggest that the company worked since the 1980s to confuse the public about climate change\u2019s march, while simultaneously spending millions to fortify its own infrastructure against climate change\u2019s destructive consequences and track new exploration opportunities as the Arctic\u2019s ice receded,\u201d<\/em> the Rockefeller family wrote.<\/p>\n In November of 2015, the state of New York launched an investigation into whether the largest US gas and oil company had misled the public and investors about the risks of climate change. A similar inquiry has been opened<\/a>\u00a0in California, the Los Angeles Times reported.<\/p>\n The decision of Rockefeller Family Fund did not come as a surprise at ExxonMobil.<\/p>\n \u201cIt\u2019s not surprising that they\u2019re divesting,\u201d<\/em> the company told<\/a>\u00a0CNBC. \u201cThe Rockefeller Family Fund provided financial support to InsideClimate News and Columbia University Journalism School which produced inaccurate and deliberately misleading stories about ExxonMobil\u2019s history of climate research.\u201d<\/em><\/p>\n The Fund also announced that it was going to eliminate holdings in all other all coal and tar sands-based companies \u201cas quickly as possible.\u201d<\/em><\/p>\n \u201cIndeed, it is past time for all people of good will to do everything in their collective power to make our new path one that recognizes the deep interdependence between humanity\u2019s future and the health of our natural systems,\u201d<\/em> the Rockefeller Family Fund said.<\/p>\n<\/div>\n Via RT<\/a>. This piece was reprinted by RINF Alternative News<\/a> with permission or license.<\/p>\n","protected":false},"excerpt":{"rendered":" The Rockefeller Family Fund is cashing in all of its investments in ExxonMobil, citing \u201cmorally reprehensible conduct.\u201d The multimillion dollar charity is also divesting itself from all fossil fuel companies over the industry\u2019s stance on climate change. \u201cWe would be remiss if we failed to focus on what we believe to be the morally reprehensible […]<\/p>\n","protected":false},"author":1,"featured_media":233653,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-233652","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/233652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=233652"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/233652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media\/233653"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=233652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=233652"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=233652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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