But times have changed, and today the Rockefeller Foundation is committing to divesting its $5 billion endowment from existing fossil fuel interests and refraining from future fossil fuel investments. Once considered liquid gold, oil is now one of the main culprits of the climate crisis as companies search for cleaner forms of energy. Environmental advocates have long pushed for divestment from fossil fuels and even nuclear energy, which the foundation has a long history with dating back to the development of the atomic bomb.
“JD Rockefeller started this foundation to promote the well-being of humanity throughout the world, based on science and innovation. This is still our mission, and since the science is clear on the harm caused by fossil fuels, it was time that we officially aligned our internal investment strategy with our external values and mission,” said Rajiv J. Shah, President of The Rockefeller Foundation, in a release.
The Next Generation of Philanthropists Last Updated: Dec. 7, 2020 at 9:57 a.m. ET First Published: Dec. 7, 2020 at 9:53 a.m. ET By
Penta s December 2020 cover, featuring (from top left) Valerie Rockefeller, Justin Rockefeller, Josh Lauder, Stephen Curry, Ayesha Curry, Adrian Cheng, Melinda Gates, and Bill Gates. Illustration by Gluekit; Clockwise from top left: Courtesy of Valerie Rockefeller; Courtesy of Justin Rockefeller; Mattie C. (Lauder); Kelly Sullivan/Getty Images (Curry); Giulia Marchi/Bloomberg (Cheng); Frederic Stevens/Getty Images (Gates) Email icon
Rising Philanthropists, Focused On Results
Increasingly, wealthy individuals are taking a strategic approach to philanthropy, aiming to achieve specific outcomes rather than simply writing a check.
Follow RT on Western journalists, rights groups and governments are concerned about the head of a foreign NGO being asked to leave Russia. However, serious discussion of the organization’s background, and funding sources, is completely absent.
Last week, it was announced that Moscow had revoked the residency of Vanessa Kogan, a US national who heads the NGO Stichting Justice Initiative (SJI) in Russia. If her appeal against the decision isn’t successful, she’ll be forced to leave the country, where she has lived for over a decade, and has two children who are Russian nationals.
Condemnation from Western media and rights groups was immediate, with the issue framed as just the latest example of an ongoing autocratic crackdown on rights activists in Russia. The censures were intriguing for what they both did and didn’t say.
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The exterior of Portola del Sol, a complex Turner Impact Capital s multifamily fund owns in Las Vegas. Turner Impact Capital
Turner Impact Capital has closed its second affordable workforce housing fund at US$357 million, including injections of capital from the foundations of NBA star Chris Paul and activist investor Bill Ackman.
By leveraging those dollars, the Turner Multifamily Impact Fund, one of the real estate firm’s private-equity vehicles, will be able to buy close to US$1.25 billion in new properties in urban areas, according to Bobby Turner, CEO.
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Turner Impact Capital Seeks to Strengthen Workforce Housing