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.
Presents unwrapped, turkey gobbled... it's time to relax
End fossil fuels by 2100 - the dramatic 'final warning' over climate change
Killer grey seals are mutilating porpoises off North Sea coast – and scientists warn human swimmers could be next
Nepenthes zygon: New exotic carnivorous plant discovered... at Kew Gardens
Just 97 of the 'world's cutest' sea mammals remain
The 10 best folding bikes
- 1 Exodus Gods and Kings casting controversy: Ridley Scott would never cast 'Mohammad so-and-so from such-and-such' in lead role
- 2 This letter from a reader explains why women can’t play football
- 3 'You should come to my house and eat cheeses with me': 4-year-old sends adorable love letter to girl at school
- 4 Scientists predict green energy revolution after incredible new graphene discoveries
- 5 Michael Buerk wishes he killed Jimmy Savile when he had the chance - by pushing him overboard a cruise ship
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
Obama: The only people with the right to object to immigration are Native Americans
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
Ukip mocked after mistaking Westminster Cathedral – for a mosque
Sarah Vine criticises lesbian mother Jack Monroe: 'If she was unsure about her sexuality, she should have taken greater precautions'
£25000 - £30000 per annum: Recruitment Genius: One of Scotland's leading train...
£90000 - £140000 per annum + benefits: h2 Recruit Ltd: Are you a high achievin...
£25000 - £37000 per annum + benefits: h2 Recruit Ltd: Are you seeking to furth...
£25000 - £45000 per annum + car + benefit: h2 Recruit Ltd: A fantastic and uni...