American Samizdat

Friday, January 12, 2007. *
In a significant change, the Bill & Melinda Gates Foundation announced Wednesday that it would review its investments to determine whether its holdings were socially responsible.

In addition to what it called a continuing review of "our approach to investments," the foundation said on its website, "we will review other strategies that can fulfill a social responsibility role, both in terms of their aspirations and in understanding the impact that they may have."

The announcement came two days after the Los Angeles Times published the second article in a two-part investigation showing that the foundation reaps vast financial gains every year from investments that contravene its good works.

The Times found that the organization — led and funded by the chairman of Microsoft Corp. and his wife — invested hundreds of millions of dollars in companies that contribute to the problems of health, housing and social welfare that the foundation tries to solve.
posted by Klintron at 1:00 PM
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