image source, Getty


John D. Rockefeller built his fortune on oil between the late 19th and early 20th centuries.

The Rockefeller family, whose enormous fortune grew out of oil deals, will announce Monday that their multibillion-dollar charity will sell off all its investments in the fossil fuel sector and reinvest the money in clean energy.

The Rockefeller Fund is one of several high-profile groups that have joined the Divest-Invest initiative.

In total, the entities anticipate spending more than $50 billion on assets linked to fossil fuels.

The announcement will take place a day before the start, this Tuesday, of the United Nations summit on climate change.