3 August 2020
The UN-convened Net-Zero Asset Owner Alliance welcomes the David Rockefeller Fund to its membership.
The Fund becomes the 28th member of the Alliance, which now has combined assets under management (AUM) of nearly $5 trillion. The Alliance was launched by 12 members with AUM of $2.4 trillion in September 2019.
Nili Gilbert, David Rockefeller Fund Trustee & Investment Committee Chairwoman, says:
“David Rockefeller Fund believes that it is critical for us — as a private, endowed family foundation committed to climate solutions — to align our investment portfolio with science-based targets for climate change mitigation”.
“The vast majority of the 85,000 US foundations are small, but their assets exceeded $1 trillion at the peak of the 2019 market. As the first foundation to join the Alliance, we hope to help pave the net-zero path for climate-concerned foundations to be aligned with the Paris Climate goals. As the third American asset owner to join the Alliance, we also hope to shine a light on climate-aware investing within our country”.
About the David Rockefeller Fund
The David Rockefeller Fund was established in 1989 by David Rockefeller and his wife Peggy to carry out their annual charitable giving in communities where they had homes outside New York City. In 2001, David Rockefeller expanded the Fund and invited his children and grandchildren and their spouses to take a more active role in the Fund with the idea of transferring to them the family’s philanthropic tradition. The Fund’s work provides a learning environment where family members are able to engage in dialogue and grant-making around shared topics of interest.
About the Net-Zero Asset Owner Alliance
The Alliance is an international group of institutional investors committed to transition their investment portfolios to net-zero greenhouse gas (GHG) emissions by 2050, which was launched at the Secretary-General’s 2019 Climate Action Summit. The initiative is centered upon a united investor action to align portfolios with a 1.5°C scenario, addressing the finance goal (Article 2.1c) of the Paris Agreement.
The fund now has 28 members with combined assets under management of nearly $5 trillion.