Rockefeller Family Fund Divests In Fossil Fuels

Published March 24, 2016 at 1:33 PM EDT

A picture shows the logo of US oil and gas giant ExxonMobil during the World Gas Conference exhibition in Paris on June 2, 2015. AFP PHOTO / ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

The Rockefeller Family Fund has announced that it’s divesting from investments in fossil fuels and eliminating its holdings of Exxon Mobil Corp.

A statement on the Rockefeller Family Fund website cites “morally reprehensible” conduct on the part of Exxon Mobil:

Evidence appears to suggest that the company worked since the 1980s to confuse the public about climate change’s march, while simultaneously spending millions to fortify its own infrastructure against climate change’s destructive consequences and track new exploration opportunities as the Arctic’s ice receded.

This change is significant because the Rockefeller family founded Standard Oil, and has a long history of profiting from the oil industry. Here & Now’s Meghna Chakrabarti talks to Ali Velshi of Al Jazeera America.

Guest

Ali Velshi, host of “Ali Velshi on Target” on Al Jazeera America. He tweets @AliVelshi.