Prince William’s charity fund which is aimed at environmental conservation has strong links to fossil fuel champion JPMorgan Chase.
Prince William’s conservation charity did the opposite of conserving the environment when it decided to invest in one of the world’s biggest supporters of fossil fuels, JPMorgan Chase. To make matters even worse, Euro News reported that The Royal Foundation also puts over half of its investments in a ‘green’ fund which is linked to large food companies that buy palm oil, which is extremely destructive to ecosystems and causes deforestation.
Prince William is known as an environmentalist and has been outspoken about conserving the environment. Still, his charity invested over £1.1 million ( around $1.3 million) with JPMorgan Chase in 2021, according to that year’s filings. The foundation also held £1.7 million ( around $2 million) in a fund that is run by Cazenove Capital Management, a company linked to palm oil and deforestation.
Recently, a NASA scientist and three others were arrested in Los Angeles after they chained themselves to the door of a Chase Bank office building. According to a 2020 report from the Sierra Club, JPMorgan Chase & Co has invested more money in fossil fuels than any other bank. In a time when we have sufficient evidence of the harm that fossil fuel does to the environment, we need to be moving away from renewable energy. The protesters, including the NASA employee at the Jet Propulsion Laboratory, Peter Kalmus, were calling for the company to take out investments from coal, oil, and gas.
This year, the IPCC released a report that told governments it’s ‘now or never ‘to take action on climate change. The report warns that the world must peak emissions in less than three years if we want to have a chance and keep global warming to 1.5 degrees Celsius above the preindustrial standard. Governments are nowhere near being able to meet this emission reduction.
We know that going above this limit would increase the destruction of the planet, including extreme weather and natural disasters. It would be devastating for humans, animals, and our beautiful green planet. The goals of the foundation are not lining up with their actions. We cannot keep supporting big oil!
Original source: https://www.onegreenplanet.org