Financial Times FT.com

Bill Gates snubs ethical investment

By Andrew Jack in London

Published: January 12 2007 18:40 | Last updated: January 12 2007 18:40

Bill Gates, the world’s richest man, on Friday delivered a snub to the ethical investment movement by saying his foundation should concentrate on grant giving, rather than judging the social impact of businesses in which it invests.

In a statement on its website, the Bill & Melinda Gates Foundation, the world’s largest philanthropic body with $35bn in assets, ruled out screening companies in which it invested based on factors such as their environmental record or lending policies.

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