Rockefeller's selling oil investments to reinvest in renewables

[paradox]

http://www.abc.net.au/news/2014-09-23/rockefeller-family-to-sell-oil-investments-to-reinvest-in-renew/5761966

The heirs of the Rockefeller family, who made their vast fortune in oil, have joined in a pledge to divest more than $56 billion of fossil fuel investments to reinvest in clean energy on the eve of a major climate change summit in New York.

 

The Global Divest-Invest coalition has drawn 650 individuals and 180 institutions, which control billions of dollars in fossil fuel assets, to switch to renewables over five years using a variety of approaches.

One of the signatories is Rockefeller Brothers Fund and heir of Standard Oil tycoon John D Rockefeller, Stephen Heintz, who said the move would be in line with his wishes.

"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," he said.

Another of the higher profile institutional divestments came in May, when Stanford University said it would no longer use any of its $21 billion endowment to invest in coal mining companies.

New York mayor Bill de Blasio on Sunday unveiled a new plan for the city to reduce its greenhouse gas emissions by 80 per cent from 2005 levels by 2050.

All 3,000 major city-owned buildings would be retrofitted with energy-saving heating, cooling and light systems, but he said meeting the commitment would also require significant investments by private landlords.

South African Archbishop Desmond Tutu, an anti-Apartheid figure who has been a strong voice on the need for economic divestments, will call for a freeze on all new fossil fuel exploration leading up to the UN summit.

"We can no longer continue feeding our addiction to fossil fuels as if there is no tomorrow, for there will be no tomorrow," he said.

The US National Oceanic and Atmospheric Administration reported that August 2014 was the warmest on record, 0.75 degrees Celsius above the 20th century global average of 15.6 degrees.

The heads of state of 120 nations will address the United Nations in New York on Tuesday on how their countries will contribute to a global effort to halt a dangerous rise in temperatures.

[manic]

Its funny, it was only a couple of months ago Tony Abbott was talking about how Australia's future will continue to be built on coal energy.

[Dreamwalker.]

wow!

I only read the 1st few lines...but that's really impressive................shit like this might undermine my pessimist attitude...good on them..let's hope it will set a trend........

[Nailthesnail]

Problem is they will probably have a monopoly on the renewable energy market, Putting prices higher then colorado. I am not very good at analyzing things like this but imagine it could only mean they are wanting to do something sinister.

Could just be conspiracy theorizing though

[-RC-]

Its funny, it was only a couple of months ago Tony Abbott was talking about how Australia's future will continue to be built on coal energy.

Yeah, but dickheads talk shit all the time. Doesn't mean they're telling the truth, or that they even know what they are saying unfortunately...

[LokStok]

The heads of state of 120 nations will address the United Nations in New York on Tuesday on how their countries will contribute to a global effort to halt a dangerous rise in temperatures.

and guess which leader of which nation wont be there.

[FancyPants]

The Rockefellers don't get that rich and powerful by being stupid. Clearly they're getting in at the perfect time for future profit. Can only mean coal will be less relied upon. Maybe this is part of the ISIL/ISIS backstory? Oil losing clout? Less reliance on Russian gas for Europe?

Tony A is never going to admit any wrongdoing or falsehoods regarding climate change. He will stick to his story to the bitter end. No doubt in his own mind he'll be telling himself he was right. Others will lose their jobs because they became scapegoats. Australia will fall behind a little further technologically, and consequently financially. We MUST vote liberal out at next election.