John Kerry sold hundreds of thousands of dollars worth of shares in oil and gas companies after being appointed Joe Biden’s special presidential envoy for climate change – and weeks after being warned that humanity had only nine years to save the planet.
Kerry has revealed in official revelations that he has received millions of dollars in salary, consulting fees and from the liquidation of shares he has held since President Biden took office.
Documents covering most of 2020, which run until January 2021, reveal how Kerry, 77, has also held hundreds of thousands of dollars in investments in energy companies that could be affected by policies he will help to develop as Joe Biden̵
But he was warned by the State Department’s ethics department that the investment posed a “significant risk of conflict of interest” – and agreed to sell it.
Kerry owned between $ 204,000 and $ 960,000 in about three dozen companies related to the energy sector, including electricity, oil and gas and nuclear power.
He previously held senior positions in companies and enterprises that could now be affected by his climate policy. Details were contained in documents received from Axios.
Kerry said in February that humanity has only a few years to avoid a climate catastrophe.
He told CBS in February: “Well, scientists told us three years ago that we have 12 years to prevent the worst effects of the climate crisis. We are no longer three years old, so there are nine years left. “
Financial revelations from Presidential Special Envoy for Climate and former Secretary of State John Kerry reveal that he is one of the richest members of the Biden administration
The details were listed in a series of documents describing his financial transactions
And he suggested that the Paris Climate Change Agreements – which America recently joined after Donald Trump’s resignation – may not go far enough to help.
He said: “Even if we did everything we said we would do when we registered in Paris, we would see the Earth’s temperature rise to somewhere around 3.7 degrees or more, which is catastrophic.”
Disclosure documents also show how when Biden entered the White House, Kerry received most of his $ 5 million salary from Bank of America for his role as chairman of its Global Advisory Board.
This means that Kerry is among the richest members of the Biden administration.
He also receives fees from other banks, universities and health companies totaling nearly $ 400,000, along with various other salaries, including $ 39,000 from Yale University.
Kerry managed to win more than tens of thousands from Deutsche Bank and the investment company CSLA Limited.
He also made $ 125,000 in consulting fees from The Rise Fund, a $ 2 billion social impact investment project founded by activist musician Bono and philanthropist Jeffrey Scoll. The fund claims to be an investment company with a significant portfolio of renewable energy sources.
Kerry’s huge portfolio of shares is also being improved by a trust fund he owns with his wife, Teresa Heinz Kerry, 82, heir to the Heinz food company, pictured in the center. Daughter, Alexandra Carey, 47 is pictured right, in 2016.
Kerry received most of his $ 5 million salary income from Bank of America for his role as chairman of its Global Advisory Board
The declarations also reveal that he has invested between $ 4 million and $ 15 million in assets in more than 400 companies.
The disclosure report submitted by Kerry shows that he was chairman of the advisory board of Climate Finance Partners and as president of the Vietnam Sustainable Energy Corporation.
“The State Department’s Ethics Office reviewed the assets and investments of Special Presidential Envoy Kerry when he was appointed to identify farms that could pose a significant risk of conflict of interest,” a State Department spokesman said. “Special Presidential Envoy Kerry agreed to sell the assets identified by the Office of Ethics and did so.”
Some of the energy companies Kerry has invested in include hydrocarbon exploration company ConocoPhillips, international oil refinery company Valero Energy and gas and electricity supplier Southern Company.
The size of the shares held was relatively small with values between $ 1001 and $ 50,000 each.
The revelation also reveals that Kerry has reduced its financial interests in energy companies in recent years.
Kerry, who was a Massachusetts senator for 28 years from 1985 to 2013, became secretary of state for the Obama administration from 2013 to 2017. Both are pictured here in 2008.
Documents show that Kerry earned between $ 15 million and $ 65 million from his other investments, mainly from dividends and capital gains from the sale of his financial assets.
These include shares of large companies, including Google, Amazon, Facebook, Microsoft and Goldman Sachs.
Kerry’s huge portfolio of shares is also being improved by a trust fund he owns with his wife, Teresa Heinz Kerry, heiress to the Heinz food company.
“The State Department’s Ethics Office reviewed the assets and investments of Special Presidential Envoy Kerry when he was appointed to identify farms that could pose a significant risk of conflict of interest,” a State Department spokesman told Axios.