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Monday, October 26, 2015

Economic security

Dumping fossil fuels was great move for Rockefeller Brothers Fund

no fossil fuel
No more oil, gas, coal or tar sands assets in its $850 million portfolio.

A year later, the move looks especially wise.

Oil prices have plunged from over $90 when the fund made its announcement in September 2014 to $45 now -- the lowest level since the recession.

Big energy stocks have been clobbered. Energy is by far the worst performing sector in the stock market in 2015. Meanwhile, the climate change divestment movement continues to gain momentum. Rockefeller is no longer an outlier.

"We are able to show it can be done," says Rockefeller Brothers Fund President Stephen Heintz, "without causing harm to the overall performance of your investment portfolio."

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