Bill Gates charity trust’s holdings in fossil fuel firms rise despite divestment claims
Trust had $254m invested in companies such as Chevron, BP and Shell in 2024, a nine-year record, analysis shows
TL;DR
- The Gates Foundation Trust invested $254 million in fossil fuel extractors in 2024, a nine-year high.
- This investment represents a 21% increase from 2016 and is the highest inflation-adjusted amount since 2019.
- In 2015, the trust reduced its fossil fuel holdings from $1.4 billion to $260 million, following divestment campaigns.
- Despite claims of divestment in 2019, the trust's investments in companies like Glencore, BP, and Occidental Petroleum have increased since 2015.
- Companies in which the trust invested in 2023 were collectively responsible for more emissions than Russia, Japan, and Germany combined.
- Bill Gates previously expressed a personal desire not to profit from fossil fuel stocks and stated that the trust divested direct holdings in oil and gas companies in 2019.