The Rockefeller family is involved in several businesses in the real estate, politics and banking. They own one of the world's largest fortunes in the oil industry.
The Global Divest-Invest Coalition will reveal its new pledges a day before the heads of state meet up with the United Nations' leaders and discuss ways to address the dangerous rise in temperatures globally.
The Global Divest-Invest coalition is a philanthropic organization started in 2011.
It aimed at divesting from fossil fuels and switching to clean and sustainable energy. Currently, there are 650 individuals and 180 institutions which consist of 50 new foundations in the organization.
Some of the members or signatories of the organization include the The John Merck Fund and The Wallace Global Fund.
Another of the signatories includes the Rockefeller Brothers Fund. One of the successors of 'Standard Oil' magnate John D. Rockefeller, Stephen Heintz said that the deal was one of his wishes.
"We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy," Heinz stated.
Since the start of the year, many organizations, campuses, churches, cities, states, hospitals, pension funds in the U.S. and abroad pledged to use clean and renewable energy, according to Arabella Advisors, a philanthropic consultancy.
Stanford University joined the coalition in May stating that it will no longer use its $18.7 billion fudnding to invest coal mining companies.
Others, like the University of California did not jump in the philanthropic movement, as it voted last week to retain natural gas and coal investments.
Meanwhile, South African Archbishop and anti-Apartheid Desmond Tutu has long been supporting the economic divestments such as these.
"We can no longer continue feeding our addiction to fossil fuels as if there is no tomorrow, for there will be no tomorrow," Tutu stated.
