In the countdown to the clean-energy summit by the United Nations coming up this week, investors demand that more concrete steps be taken to discourage nations from consuming fossil fuels. The summit is aimed at addressing the issue of global climate change.

The growing movements of divesting shares linked to fossil fuels was initiated by a only a few institutions and universities but has now expanded to 180 organizations as well as local governments with participation from almost 654 people and a combined $50 billion assets.

Those foundations that recently joined the group of investors withdrawing investment from fossil-fuels include the Rockefeller Brothers Fund. This foundation – formed by John D. Rockefeller Sr.’s grandchildren – has assets worth more than 700 million dollars.

Rockefeller Brothers Fund joins the clean-energy drive

Stephen Heintz, President, Rockefeller Brothers Fund said that John D. Rockefeller made the United States switch from whale oil to petroleum. The foundation firmly believes that if he was alive today, with his futuristic attitude and way of life, he would be happy to dissociate from fossil fuels and invest in eco-friendly and renewable sources of energy.

Distinctly, more than 300 institutional investors all over the world with combined assets of approximately $24 trillion have asked governments to monetize carbon dioxide emissions. At the same time they want the removal of subsidies available to the various industries dealing in fossil fuels. The investors taking such a stand include the California Public Employees’ Retirement System, BlackRock (NYSE: BLK) and several other significant investors in Asia, Australia and Europe.

Businesses demonstrate shift in position: Concern for the environment

The above statements and actions indicate a major change in the attitude of several businesses with regards to global climate change. As far as the political world is concerned, the subject continues to generate controversy as several United States Republican figures question the existence of artificial climate change. Still increasing number of investors and institutions are making efforts to curb consumption of fossil fuels and address the damage caused by global warming.

In the last 100 years, the burning of major fossil fuels including carbon dioxide is the primary reason behind the significant increase in the overall global temperatures. According to scientists, the impact of this climate change can be felt in various areas such as health and agriculture. In order to prevent further damage, it is important for governments to reduce carbon emissions on an urgent basis.