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Rockefellers, Heirs to an Oil Fortune, Will Divest Charity From Fossil Fuels

2014-09-22 05:41:21| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: John D. Rockefeller built a vast fortune on oil. Now his heirs are abandoning fossil fuels. The family whose legendary wealth flowed from Standard Oil is planning to announce on Monday that its $860 million philanthropic organization, the Rockefeller Brothers Fund, is joining the divestment movement that began a couple years ago on college campuses. The announcement, timed to precede Tuesdays opening of the United Nations climate change summit meeting in New York City, is part of a broader and...

Tags: oil charity fortune fossil

Bemis to divest Pressure Sensitive Materials business for $170m

2014-09-11 01:00:00| Packaging Gateway

Flexible packaging specialist Bemis Company has agreed to divest its global Pressure Sensitive Materials business MACtaC to US-based private equity firm Platinum Equity, in a $170m deal.

Tags: business materials pressure sensitive

Duke Energy to divest Midwest generation business to Dynegy for $2.8bn

2014-08-25 01:00:00| Power Technology

Duke Energy will sell its non-regulated Midwest Commercial Generation Business to Dynegy for $2.8bn in cash.

Tags: business energy generation duke

Faith Groups Divest From Fossil Fuels

2014-08-21 02:07:00| Climate Ark Climate Change & Global Warming Newsfeed

Hispanic Business: Worried about global warming, a growing number of churches and other faith groups are divesting their holdings in fossil fuel companies that release large amounts of carbon dioxide and other greenhouse gases into the atmosphere. "The warning in scripture that 'the wages of sin is death' could not be more literally true than it is in the case of fossil fuels," said Serene Jones, president of New York's Union Theological Seminary, whose board voted earlier this summer to divest its $108.4 million...

Tags: groups faith fossil fuels