"The Gates Foundation Trust holds hundreds of millions of dollars in fossil fuel extractors despite Bill Gates' claims of divestment made in 2019. End-of-year filings reveal that in 2024 the trust invested $254m in companies that extract fossil fuels such as Chevron, BP and Shell. This was a nine-year record and up 21% from 2016, Guardian analysis found. Adjusting for inflation, it was the highest amount since 2019."
"In 2000, he and his then wife, Melinda, set up the Gates Foundation, which is now the third largest charitable foundation in the world. It uses its resources for a range of causes including public health, poverty reduction, education and climate adaptation. Divestment first became an issue for Gates in 2015. At the time, a global campaign by religious figures, climate activists, students and other charities called for large foundations to divest from fossil fuels."
The Gates Foundation Trust invested $254m in fossil fuel extraction companies in 2024, marking a nine-year record and a 21% increase from 2016, and the highest inflation-adjusted total since 2019. Investments included major extractors such as Chevron, BP and Shell. Bill and Melinda Gates established the Gates Foundation in 2000, which ranks as the third largest charitable foundation and supports public health, poverty reduction, education and climate adaptation. Divestment became contentious in 2015 amid global campaigns urging large foundations to withdraw fossil fuel investments. The trust was heavily invested in 2013 and later sold substantial fossil fuel holdings.
Read at www.theguardian.com
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