Rockefeller Brothers Fund evaluates cleantech and sustainability investments

Last month, the RBF announced it would divest a significant volume of its investments in fossil fuels and reinvest the capital in clean energy, which is particularly significant as the Rockefeller family initially made its fortune in the oil industry.

RBF aims to reduce its exposure to coal and tar sands – two of the most carbon-intensive fuels – to less than one per cent of the fund’s total portfolio by the end of 2014.

‘We are now embarking on a deeper analysis of our holdings in other fossil fuel investments and will then be developing a strategy with our investment committee and trustees for the next steps for further divestment,’ Watson said.

The fund hired independent advisory and asset management firm Perella Weinberg Partners (PWP) as its outsourced chief investment manager in February, according to Watson.

‘We have been working closely with them to transition the management of the endowment and to integrate programmatic considerations into our investment strategies,’ she said. ‘This will take some time to fully assess and develop across the whole portfolio.’