Trump is Winning in His Battle Against the Green Blob

One of the UK's largest climate-related grant makers withdraws from the US

On Friday, the FT reported that one of the UK’s largest philanthropic grant makers, the Children’s Investment Fund Foundation (CIFF) is withdrawing its support for US-based organisations. According to the pink pages, CIFF “no longer understands the US policy environment governing donations” and that it was “pausing donations until authorities clarified the applicable laws and rules related to the foreign funding of US NGOs”.

CIFF is the philanthropic vehicle of British billionaire hedge fund manage Christopher Hohn, whose firm, The Children’s Investment (TCI), has a history of reckless decisions and shareholder activism. Former Prime Minister and Chancellor of the Exchequer Rishi Sunak was once a partner of the hedge fund, and was reported by the Times to be one of a number of the firm’s executives to have made huge profits “after an audacious stock market bet that lit the touchpaper on the 2008 financial crisis”. Though while that bid saw Fred ‘the shred’ Goodwin lose his knighthood, Christopher Hohn subsequently gained his just a few years later for “services to philanthropy”.