Monday, June 27News That Matters

Tag: heirs

Rockefeller heirs call on banks to stop lending to fossil fuel companies

Descendants of Standard Oil founder John D. Rockefeller are calling on the major banks to put an end to fossil fuel financing.Daniel Growald, Peter Gill Case and Valerie Rockefeller — fifth-generation members of the famed family — have launched BankFWD, which is a network of powerful individuals and institutions aimed at persuading banks to change their lending practices.While necessary in order to stem the impacts of climate change, the trio also argue that shifting away from fossil fuel dependence is necessary from an economic perspective. In other words, long-term financial viability is inextricably linked to the changing planet."There's a strange thing happening right now where the business world is still trying to wrap its head around the idea of climate change, that there are true ri...