The proving is in the doing
Not good:
The charity run by Bill and Melinda Gates, who say the threat of climate change is so serious that immediate action is needed, held at least $1.4bn (£1bn) of investments in the world’s biggest fossil fuel companies, according to a Guardian analysis of the charity’s most recent tax filing in 2013.
The companies include BP, responsible for the Deepwater Horizon disaster in the Gulf of Mexico, Anadarko Petroleum, which was recently forced to pay a $5bn environmental clean-up charge and Brazilian mining company Vale, voted the corporation with most “contempt for the environment and human rights” in the world clocking over 25,000 votes in the Public Eye annual awards.
The Gates foundation does a lot of good work, but what good will it really do if it is undermined by the overwhelming consequences of climate change? And more specifically, how can Gates pretend to care about climate change when his foundation is so deeply invested in the industries that cause it?
A Guardian campaign, launched on Monday and already backed by over 95,000 people is asking the Gates to sell their fossil fuel investments. It argues: “Your organisation has made a huge contribution to human progress ... yet your investments in fossil fuels are putting this progress at great risk. It is morally and financially misguided to invest in companies dedicated to finding and burning more oil, gas and coal.”
The
divestment movement is
growing, although given Gates's curious past
associations, who knows if he'll listen? But his deep financial ties to the fossil fuels industry needs to be publicized. If nothing else, for the sake of educating those who might buy his products.