Bill Gates' charitable trust, despite its divestment claims, has seen a significant rise in holdings in fossil fuel firms, raising questions about the effectiveness of its climate commitments. The trust, which manages the Gates Foundation's endowment, has invested hundreds of millions of dollars in fossil fuel extractors, including Chevron, BP, and Shell, according to end-of-year filings. This investment has increased by 21% since 2016, reaching a nine-year record of $254 million in 2024, adjusted for inflation. This growth is particularly concerning given the trust's earlier divestment efforts and Bill Gates' personal stance against fossil fuel ownership. In 2019, Gates wrote about his desire to divest from oil and gas companies, stating he didn't want to profit from their stock price increases. However, recent filings show a reversal of this trend, with investments in producers like Inpex, BP, and Equinor, which have faced shareholder rebellions for alleged greenwashing. The trust's investments in these companies are substantial, and their collective emissions are higher than those of Russia, Japan, and Germany combined. This raises questions about the trust's commitment to climate action and its alignment with Gates' public statements supporting a shift away from emissions reduction. The analysis, conducted by The Guardian, used publicly available 990-PF forms and focused on direct fossil fuel extractors, excluding investments in companies providing related services. This strict definition highlights the trust's continued exposure to fossil fuel producers, despite its earlier divestment claims and Gates' personal stance.
