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Rockefeller’s green investment decision is ‘great for everyone’

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RES UK managing director Gordon MacDougall has called on the UK’s politicians to take note of the Rockefeller family’s decision to divest itself of fossil fuel assets.

The Rockefeller Brothers Fund, controlled by the heirs of 19th century oil baron John D Rockefeller, currently holds over $860m of global assets.

A statement from the fund said it was committed to fighting climate change and ending its historical association with carbon intensive fuels including coal and tar sands.

“The Rockefeller foundation’s decision to swap their multi-million dollar investments in fossil fuels for investments in renewables is great news for everyone, and is particularly well timed for current events in the UK,” said MacDougall.

“We hope that the Conservatives, Liberal Democrats, Labour and UKIP are watching what is happening in the USA throughout the party conference season and as they draft their manifestos for 2015.

“Our politicians need a better understanding of the energy challenges facing the UK and how onshore wind is the big success story. Some of them certainly need to rethink recent comments and give full commitment to onshore wind long after the general elections in 2015.

“One of the most cost-effective forms of energy generation, onshore wind is well placed to meet the challenge of becoming subsidy free post 2020.”