Bill and Melinda Gates Foundation divests entire holding in BP

[SecularMotion]

Source: The Guardian

The Bill and Melinda Gates Foundation has sold off its entire holding in oil giant BP, in a move welcomed by fossil fuel divestment campaigners.

Bill Gates has called the selling off of coal, oil and gas stocks a “false solution” to climate change, but the known investments of his foundation in major fossil fuel companies has fallen by 85% since 2014.

The foundation, which has spent many billions of dollars improving global health, sold its $187m stake in BP between September and December 2015, according to recent regulatory filings to the US Securities and Exchange Commission (SEC).

It had previously dumped its entire $824m holding in ExxonMobil. BP posted a record $6.5bn annual loss in February while ExxonMobil is under investigation about whether it lied in the past to investors about the threat of climate change.

Read more: http://www.theguardian.com/environment/2016/may/12/bill-and-melinda-gates-foundation-divests-entire-holding-in-bp?CMP=Share_iOSApp_Other

[FLPanhandle]

1. I'm guessing the Deep Water Horizon wasn't enough to sell out

But low oil prices for the foreseeable future sure made him bail on BP quick.

[CountAllVotes]

2. +1,000

Not enough bucks in this game for the like of BILL GATES!

[Midnight Writer]

3. Gee, he dumps his stock during a time of record oil industry losses

Just like any profit-minded investor would do.

Kudos? I guess...

[sulphurdunn]

4. Now, if his bottom line will just convince him

to quit funding his bullshit entrepreneurial 'venture philanthropy' public education reform programs.