An investigation by NBC News came up with a fascinating finding that shows how some environmental groups aren’t exactly all revealing when it comes to their investments in—–oil and gas!
While such groups have urged universities to divest themselves of investments in fossil fuels, the NBC investigation discovered some have quietly maintained such investments.
The findings were confirmed when NBC News analyzed the so-called Paradise Papers, described as a “leaked trove of 13.4 million documents from the closed-door word of offshore investing.” Reporters discovered the secretive financial entanglements with fossil fuels.
Groups such as the American Museum of Natural History, the World Wildlife Fund and the University of Washington—who have spoken out about climate change…still have fossil fuel investments.
The American Museum of Natural History, which has exhibits on climate change and a website that advises how to fight global warming still has investments in oil and gas. The investment in fossil fuels through the international private equity firm Denham Capital.
The Denham fund has invested in energy projects around the world including $262 million into MS Directional LLC, a Texas company that provides drilling services to the oil and gas industry.
The Denham V fund also invested $200 million in Tradition Midstream LLC which is involved in oil and gas pipeline work.