The Rockefeller Family Fund vs. Exxon

Earlier this year our organization, the Rockefeller Family Fund (RFF), announced that it would divest its holdings in fossil fuel companies. We mean to do this gradually, but in a public statement we singled out ExxonMobil for immediate divestment because of its “morally reprehensible conduct.”1 For over a quarter-century the company tried to deceive policymakers and the public about the realities of climate change, protecting its profits at the cost of immense damage to life on this planet. Our criticism carries a certain historical irony. John D. Rockefeller founded Standard Oil, and ExxonMobil is Standard Oil’s largest direct descendant. In a sense we were turning against the company where most of the Rockefeller family’s wealth was created. (Other members of the Rockefeller family have been trying to get ExxonMobil to change its behavior for over a decade.) Approached by some reporters for comment, an ExxonMobil spokesman replied, “It’s not surprising that they’re divesting from the company since they’re already funding a conspiracy against us.”2 What we had funded was an investigative journalism project.

via https://www.nybooks.com/articles/2016/12/08/the-rockefeller-family-fund-vs-exxon/