The Royal Foundation invests with a bank that is one of the word's largest backers of fossil fuels and places more than half its investments in a fund that owns shares in large food companies that buy palm oil from firms linked to deforestation.
Charities that are talking the talk "also need to walk the walk", said Andreas Hoepner, a professor of operational risk, banking and finance at University College Dublin who helped design several European Union climate benchmarks and has sat on its sustainable finance group.
The Royal Foundation said by email that it had followed Church of England guidelines on ethical investment since 2015 and goes beyond them.The foundation said management fees paid to JPMorgan were small, but declined to provide a figure. Environmental NGO Rainforest Action Network looked at direct loans and stock ownership along with bonds and estimated that between 2016 and 2021, JPMorgan's banking arm financed fossil fuel companies with some $US382 billion . This was more than any other bank.
But they are not in line with the ethos of the foundation, which lists conservation and mental health as main points of emphasis, or Prince William's public statements.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prince William charity uses bank that is one of world’s biggest fossil fuel backersRoyal Foundation also places investments in trust that owns shares in firms that buy palm oil, investigation reveals
Read more »
Philanthropy or rebuilding the royal image? Nepal’s last crown princess visits AustraliaHimani Rajya Laxmi Devi Shah, who was Nepal’s last crown princess before the abolition of the monarchy in 2008, recently visited Australia to garner support for her social work. But did she achieve her objective? Via SBSNepali
Read more »
Massive war games begin in the skies above Darwin. What is Exercise Pitch Black?Featuring high-stakes training scenarios and up to 100 fighter jets from across the world, the Royal Australian Air Force's biggest international training exercise is back after a four-year hiatus.
Read more »
Second council joins battle to stop prestigious golf course renovationWaverley Council says Royal Sydney Golf Club services a “hot spot” stormwater catchment and changes to the ecosystem could lead to flooding.
Read more »
Prince William's environmental charity invests with one of the biggest backers of fossil fuelsThe Royal Foundation invests with a bank that is one of the word's largest backers of fossil fuels and places more than half its investments in a fund that owns shares in large food companies that buy palm oil from firms linked to deforestation.
Read more »