Prince Harry and Meghan’s ‘ethical’ firm invests millions in oil companies

Questions have been raised for the Sussexes after an “ethical” investment firm that Prince Harry and Meghan Markle said could "change the world" has been found to be pumping millions of pounds into fossil fuel and pharmaceutical companies.

The California-based royal couple announced their partnership with the Ethic group this week.

Ethic is reported to have $1.3bn of assets, and claims to encourage more younger people to invest in environmentally and socially 'responsible' companies, such as those that invest in green energy, or racial and gender equality.

In a statement celebrating their deal on Tuesday, the couple said: “We believe it’s time for more people to have a seat at the table when decisions are made that impact everyone."

"We want to rethink the nature of investing to help solve the global issues we all face. This is one of the ways we put our values in action.”

But new documents show that Ethic has holdings in a number of banks, oil companies, pharmaceutical firms, and chemicals manufacturers.

One of the big pharma companies on the list is Corteva Inc, which is being sued in the United States after its pesticides were linked to cases of brain damage in children. The company denies the claims.

The Baker Hughes Company, which provides the oil and gas industry with products and services for oil drilling, is also registered as one of the firm's investments.

Speaking to the MailOnline, Ethic said that the couple would be able to avoid putting their money in any firms they disagreed with themselves:

"We allow our clients to choose the environmental, social and governance issues that are most important to them and then help them create custom portfolios based on their preferences"

"Your personal portfolio might look different from your family members' or friends' that prioritize different things."

The Duke and Duchess of Sussex are yet to comment on the allegations.

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