New financial statements reveal that anti-energy activists, the groups that fund them, and the politicians whom the control all continue to profit from the very same industries they routinely demonize.
In 2014, the Rockefeller Brothers Fund (RBF) – a backer of anti-Keystone XL pipeline and nationwide fossil fuel divestment campaigns – pledged to divest the majority of its assets from fossil fuels, citing “moral tension” between its investments and “charitable” donations. The rest or the story? The Rockefellers were about to bankroll a massive litigation and public relations campaign against oil and gas companies, and it could backfire if the nonprofits were still invested in the industry.
The Rockefeller foundations continued to double down publicly on their decision to divest, arguing in 2020 that “oil was bad not only for the environment but for the bottom line,” without mention that the Rockefellers themselves were spearheading the campaign to devalue oil and gas companies through litigation, activism, protest, and divestment.
Now, nearly 10 years later, recent reporting from the Washington Examiner shows that RBF still invests millions in a variety of companies that produce hydrocarbons, perhaps because these companies continue to be high-performing investments despite the Rockefellers’ best efforts.
Read the full story on EIDClimate.org.
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