Billionaire and former New York Mayor Michael Bloomberg has pledged $30 million to the Sierra Club to help fund their campaign to close coal-fired generating plants in the United States, Politico reported. Bloomberg and other allies will contribute a total of $110 million to the Sierra Club’s “Beyond Coal” campaign, which seeks to close 188 coal-fired generating plants in 45 states. Billionaires like Bloomberg not only support with their millions the effort to close down the coal-fired plants, but they have also just happened to invest in the “green” energy alternatives they want to replace coal with. By having financial interest in the very energy industries that would benefit from closing coal plants, they invite charges of conflict of interest from their support of the anti-coal campaign of the Sierra Club.
The conflicts of interest between the major billionaires and their millions donated to the Sierra Club are outlined in the report released last week, titled “Big Donors…Big Conflicts: How Wealthy Donors Use the Sierra Club to Push Their Agenda,” by the Energy & Environment Legal Institute (E&E Legal)…
“Looking back to the late 1980s, what emerges is that these influential elites, or ‘one-percenters,’ dedicated themselves to sounding alarms about ‘global warming,’ which morphed into ‘climate change’ as conditions demanded,” said Craig Richardson, E&E Legal Executive Director and author of the report. “Huge money followed from some of this country’s largest and most influential foundations, much of which ended up in the hands of groups like the Sierra Club.”