- Prince Harry and Meghan Markle are always the target of criticism.
- British tabloids continually find a way to condemn the pair for their actions.
- They are frequently spotted giving the future king William and his bride Kate Middleton compliments.
Prince Harry and Meghan Markle are always the target of criticism from royal supporters and pro-monarchy academics.
British tabloids continually find a way to condemn the pair for their actions.
They are frequently spotted giving the future king William and his bride Kate Middleton compliments.
When the most recent Associated Press article said that William’s charity maintains its assets in one of the largest financiers of fossil resources in the world, there was total quiet.
Omid Scobie, a friend of Prince Harry and Meghan and a biographer, poked fun at William’s partner in Earthshot Prize on social media as soon as the article surfaced online.
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Given that the Bloomberg Philanthropies organization has partnered with the Earthshot Prize Innovation Summit taking place in New York the next month, he said it was “surprising to see Bloomberg print this piece.”
According to AP, the Royal Foundation also invests more than half of its money in a green fund that holds stock in major food firms that purchase palm oil from deforestation-related suppliers.
The prince, a well-known environmentalist, is reported as saying “The earth is at a tipping point and we confront a stark option” on the websites of the Earthshot Prize and Royal Foundation.
However, the most current records show that the organization continued to invest with JPMorgan Chase and held more than 1.1 million pounds ($1.3 million) there as of 2021. According to the 2021 filing, the foundation also owned 1.7 million pounds ($2 million) in a fund managed by the British company Cazenove Capital Management. It continues to hold funds with Cazenove, which in May had securities connected to deforestation through their usage of palm oil, similar to how JPMorgan did. According to its earlier disclosures, the foundation made comparable investments in both funds in 2020. The organization also had more than 10 million pounds ($12.1 million) in cash as of December 2021.
When approached by the AP about the investments, the Royal Foundation did not refute them. Leading scientists have consistently warned that the world needs to move away from fossil fuels in order to drastically reduce emissions and prevent more and more severe extreme weather occurrences.
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According to financial experts, charitable organizations and philanthropies may overlook investments like those made by the foundation. Despite the fact that there are more and more ways to avoid funds linked to fossil fuels, organizations have occasionally had difficulty identifying where their own investments lie and aligning them with more environmentally friendly options. This is because foundations and others are paying more and more attention to climate change.
Similar to the Royal Foundation, several foundations have come under fire in recent years, including well-known British nonprofits like the National Trust and Wellcome Trust, for making investments with linkages to fossil fuels or practices that affect the environment. Bill Gates, a co-founder of Microsoft and philanthropist, declared in 2019 that his organization has sold all of its direct oil and gas interests.
