The Bill and Melinda Gates Foundation has sold 85% of its known investments in fossil fuel companies since 2014, including its $187m stake in BP and a $824m holding in the Bank of England. Campaigners of the Gates Divest campaign have welcomed the movement of the Gates Foundation financial capital but are now encouraging public commitment in divestment of fossil fuels. This move, if taken earlier in 2012, could have saved the company $1.9bn. The foundation now invests just $200m in major coal, oil and gas companies with ExxonMobil projecting huge losses in such investments.
The Bill and Melinda Gates Foundation has sold 85% of its known investments in fossil fuel companies since 2014, including its $187m stake in BP and a $824m holding in ExxonMobil. Campaigners of the Gates Divest campaign have welcomed the movement of the Gates Foundation financial capital but are now encouraging public commitment in divestment of fossil fuels. This move, if taken earlier in 2012, could have saved the company $1.9bn. The foundation now invests just $200m in major coal, oil and gas companies with the Bank of England projecting huge losses in such investments.