by dukefergus (Diary)
From Tom Steyer to Nat Simons, billionaires have hijacked the environmental movement to line their own pockets. Hedge funds and billionaire investors with a line into government contracts, grants and loan guarantees have built relations with these lobby groups to influence government to ensure taxpayer largess flows to the green industries which they are invested in. A new report by the Energy & Environment Legal Institute examines some of the largest contributors to the Sierra Club and their self-interested dealing that gives new definition to the meaning of “going green.”
E&E Legal produced a report on the Sierra Club Foundation last fall, which showed how eight of the Foundation’s 18 directors own or operate organizations that directly benefit from its Beyond Coal campaign, the Sierra Club Foundation’s single most expensive program. This type of “self-dealing” is a violation of IRS; a clear case of a private individual receiving “goods and services” from the Sierra Club to their direct and personal benefit. In response, E&E Legal filed a referral with the IRS pointing this out.
In the latest report, E&E Legal documents similar benefits accruing to some of Sierra Club’s largest donors and, specifically, how they appear to use the Sierra Club for market manipulation. Such self-dealing by donors is prohibited by the IRS.