Arnold Schwarzenegger accused of profiting from deforestation
Campaigners say Mr Schwarzenegger held more than $1m worth of stock in firms that cause the climate change he wants to stop
Arnold Schwarzenegger is facing allegations that a £204bn investment fund that he once held a stake in is a major investor in 20 of the most well-known companies involved in the logging of the world’s rainforests.
The Terminator actor reinvented himself as the state of California’s most environmentalist governor during his time in office, spearheading anti-global warming legislation and helping to bring in the Governors’ Climate and Forests Task Force, in an attempt to reduce deforestation in Indonesia and Brazil.
But campaigners say Mr Schwarzenegger held more than $1m (£606,000) worth of stock in Dimensional Fund Advisors (DFA) until 2011. The company holds $174m worth of shares in 20 of the 50 major logging companies, according to new research by campaign group Global Witness.
Global Witness says the Norwegian Government Pension Fund Global disinvested from at least four of the companies DFA had shares in, including Ta Ann Holdings and WTK Holdings. The reports submitted by the ethics council suggest this was due to an “unacceptable risk” that each company is “responsible for severe environmental damage.” Other companies DFA has shares in have been linked to destructive or illegal practices, according to the campaign group.
“The industrial-scale deforestation caused by some of the companies that Mr Schwarzenegger profits from accelerates the climate change that he wants to stop. In environmental terms, it’s a weaponised contradiction,” said Andrew Simms, chief analyst of Global Witness’s environmental programme.
A spokesperson for DFA said they are “not aware of any companies from the Global Witness list held in Dimensional portfolios that are engaged in illegal activities related to deforestation. We expect publicly listed companies to comply with their legal and regulatory obligations.
“Anybody with information regarding possible illegal activities should report them to the appropriate legal, regulatory and judicial authorities.”
The Independent had not received comment from Arnold Schwarzenegger at the time of publication.
Dolphins ‘deliberately get high’ on puffer fish nerve toxins by carefully chewing and passing them around
Silence to mark the 100th anniversary of the death of last ever passenger pigeon
The top 10 weirdest animal mating rituals
Leading environmentalist Sir Jonathan Porritt hits out at colleagues' unrealistic aims
The worlds greatest green inventions
- 1 David Sedaris: What I learnt from Fitbit about the world around me
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: 'It's only rape if the victim is conscious'
- 5 Katie Hopkins in tears over weight gain challenge: ‘I hate fat people for making me do this’
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
Negotiable: Randstad Education Group: Randstad Education is looking for a Seco...
£120 - £162 per day: Randstad Education Hull: Randstad Education are looking f...
£117 - £157 per day + Competitive London rates based on experience: Randstad E...
£65000 - £75000 per annum + Benefits + Bonus: Harrington Starr: C# Client-Side...