Despite Climate Change Rhetoric, Gates Foundation Invests $1.4 Billion in Fossil Fuels: Report
Largest charitable foundation in world target of growing call for divestment
Despite the Bill and Melinda Gates Foundation’s position that global warming poses an immediate and serious threat, the charity holds at least $1.4 billion of investments in the fossil fuel companies driving the climate crisis, sparking accusations of hypocrisy from green campaigners.
The holdings were revealed Thursday by Guardian reporters Damian Carrington and Karl Mathiesen, who analyzed the organization’s most recent tax filings in 2013.
The largest charitable foundation in the world, the organization says its investments are controlled by a separate entity, the Asset Trust. However, climate campaigners do not buy this abdication of responsibility, and the organization has, in the past, caved to public pressure to divest from companies that violate human rights, including Israeli prison contractor G4S.
The Guardian launched a campaign on Monday calling on the Bill and Melinda Gates Foundation, as well as the Wellcome Trust, to “remove their investments from the top 200 fossil fuel companies and any commingled funds that include fossil fuel public equities and corporate bonds within five years.”
The effort has already been backed by 95,000 people, the outlet reports.
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