Medical charity sold off two-thirds of its investments in Shell but lost an estimated £175m in the last year due to falling share prices in the fossil fuel sector
The Wellcome Trust’s investments in fossil fuel companies have lost an estimated £175m in the last year, due to sharp falls in share prices. Research by the Guardian shows the medical charity has sold off two-thirds of its holding in Shell but also increased its investment in the fastest falling of its stocks, mining giant BHP Billiton, by 8%.
The Wellcome Trust is the world’s second-biggest non-governmental funder of medical research but has been the focus of a Guardian campaign asking the Trust to sell its fossil fuel investments, which today stand at an estimated £370m.
The Wellcome Trust invests in four major fossil fuel companies, all of which have seen large falls in their share prices