We are pleased to share details about our efforts to better align the investment practices of the Fund with its mission in a new section of our website and announce that we have reached the milestone of $100 million in impact investments.
Construction of Noupoort Wind farm, another project of Mainstream Renewable Power in South Africa, in 2015. (Photo: MainstreamRP)
The Fund is investing $10 million in global wind and solar company Mainstream's Lekela Power, projects which will generate 1.3GW of new renewable power capacity in South Africa, Egypt, Senegal, and Ghana.
One year after announcing the Rockefeller Brothers Fund’s plan to divest from fossil fuels, President Stephen Heintz said its portfolio’s exposure to oil, coal, and tar sands has been reduced from about seven percent at the beginning of 2014 to just over four percent.
In an editorial, Valerie Rockefeller, chair of the Fund and a great-great granddaughter of John D. Rockefeller, explains the RBF’s rationale for joining the global shift toward divesting from fossil fuels and investing in clean energy businesses. RBF President Stephen Heintz and Trustee Justin Rockefeller also discuss the Fund's initial investments and its timeline for divesting.