Feeds

Gates Foundation launches investment review

Good money for unethical companies?

Beginner's guide to SSL certificates

Bill and Melinda Gates are reviewing policy at their philanthropic foundation after a newspaper investigation revealed it invested in corporations with questionable ethical records.

The LA Times discovered cash ploughed into oil companies which have been implicated in environmental disasters in the developing world. The paper questioned the apparent contradiction between the Foundation's aims battling poverty and HIV, and its investments in pharmaceutical companies which have been accused of obstructing provision of low cost drugs to poor countries.

In an interview with the Seattle Times, Gates Foundation chief Cheryl Scott said there would be a methodical review of the billions of dollars of shares it owns. She said the review would identify if "there are cases simply where the situation is so egregious it will cause us not to invest." The tobacco business is the only industry currently blacklisted by the gates Foundation.

Scott denied the move was a response to the public criticism of the Foundation, adding: "This has been an issue that has been top of line for a long time and will continue to be."

She said the Foundation tries to avoid ranking investments on their ethical record, preferring to focus on giving the money they make away. She said there would be room for much error and confusion in such judgments and "...divesting from companies would not have an effect commensurate with the resources we would divert to this activity."

The Foundation can be assured the results of its latest investment review will be closely scrutinised. At the moment the financial and philanthropic sides of the Foundation have remained separate. Part of the plan is to formalise oversight by the Gates's of the $35bn endowment, which is set to near-double with billions more from Warren Buffet.

Scott has posted a statement on the Foundation website here. ®

Intelligent flash storage arrays

More from The Register

next story
Renewable energy 'simply WON'T WORK': Top Google engineers
Windmills, solar, tidal - all a 'false hope', say Stanford PhDs
SEX BEAST SEALS may be egging each other on to ATTACK PENGUINS
Boffin: 'I think the behaviour is increasing in frequency'
HUMAN DNA 'will be FOUND ON MOON' – rockin' boffin Brian Cox
Crowdfund plan to stimulate Blighty's space programme
Post-pub nosh neckfiller: The MIGHTY Scotch egg
Off to the boozer? This delicacy might help mitigate the effects
I'M SO SORRY, sobs Rosetta Brit boffin in 'sexist' sexy shirt storm
'He is just being himself' says proud mum of larger-than-life physicist
NASA launches new climate model at SC14
75 days of supercomputing later ...
Britain's HUMAN DNA-strewing Moon mission rakes in £200k
3 days, and Kickstarter moves lander 37% nearer takeoff
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
The Heartbleed Bug: how to protect your business with Symantec
What happens when the next Heartbleed (or worse) comes along, and what can you do to weather another chapter in an all-too-familiar string of debilitating attacks?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.