A new report from Global Witness states that movie star/governor/”environmental champion” Arnold Schwarzenegger is part owner of an investment company that backs some of the world’s most destructive logging companies. The report shows that Schwarzenegger’s Dimensional Fund Advisors (DFA), which bills itself as a ‘pioneer in financial engineering’, has links to 50 of the world’s biggest tropical forestry companies.
The former Terminator star has never had a glowing environmental record, in part due to his fleet of Humvees, but over the past few years has positioned himself as a supporter of the fight against greenhouse gases and deforestation. However the Global Witness report states that DFA holds shares totaling $174 million in 20 of the 50 forestry companies, some of which are known for highly destructive and sometimes illegal logging activities in the rainforests of Borneo.
“Before he became Governor and an environmental activist, Arnold Schwarzenegger made his name as a killer robot from the future; now he’s making a fortune from a robo-fund company that is helping to destroy our future”, said Andrew Simms of Global Witness. “Is this a case of life lethally mimicking art?”
According to a statement of economic interests from 2011, Schwarzenegger’s stock in DFA is listed in the highest category of ‘more than $1 million’, and his annual dividends are listed as ‘more than $100,000.’ It’s rather unexpected that the actor’s high-profile work in tackling climate change and deforestation also sees him profiting from it.
“The industrial-scale deforestation caused by some of the companies that Mr Schwarzenegger profits from accelerates the climate change that he wants to stop. In environmental terms, it’s a weaponized contradiction”, said Simms. “The world is losing fifty soccer fields of forest every minute and private finance is fueling the destruction. To put his money where his mouth is, he needs to get DFA to cut its investment in these companies or get out of DFA himself”. Schwarzenegger has yet to comment on the report.
Via The Guardian