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King Charles' Estate Faces Criticism Over Handling of Funds

Published: 2023-11-25

King Charles' Estate Under Scrutiny for Ethical Investment Funds

Introduction: King Charles' Duchy of Lancaster is being criticized for how it handles funds collected from deceased individuals through an old system called bona vacantia. Recent investigations found that some of these funds were used to renovate properties owned by the king and rented out for profit. The estate is also being questioned about how it manages other funds given to its charities. In response, the estate has announced a change in its investment policy, moving over £100 million into ethical investment funds. This brings the Duchy of Lancaster in line with the Duchy of Cornwall, which already has an ethical investment policy.

Deception and Misrepresentation: The Guardian’s investigation revealed deception and misrepresentation regarding the use of funds collected from deceased individuals. The estate claimed the funds were being used for charitable causes, but it was discovered that millions of pounds were actually being held back. This raises concerns about the estate’s transparency and accountability.

Greenwashing Strategies: BlackRock, the world’s largest asset manager, has faced backlash for scaling back its commitments to environmental, social, and governance (ESG) initiatives. The company has hired lobbyists and launched ad campaigns to defend its stance, even promoting investments in disfavored industries. BlackRock claims its support for ESG has declined due to changes in resolutions, but data shows it has already achieved many of its goals. This controversy highlights the issue of false advertising and deceit in green marketing.

Texas State Board of Education Rejects Climate Change Textbooks: The Texas State Board of Education, controlled by Republicans, has rejected science textbooks for eighth graders that include information on climate change. Critics argue that this decision could make Texas less attractive to publishers and hinder students' access to proper materials. This rejection reflects a rightward shift in the board’s approach to education and raises concerns about sustainability washing and whitewashing of climate change information.

Building Trust in the Digital News Business: Trust is crucial in building relationships between customers and brands, especially in the digital news business. However, media institutions are currently ranked as the least trusted globally. Declining interest in news and active news avoidance, particularly among younger generations, contribute to this. Factors that drive brand trust include transparency, shared values, and authenticity. Building and maintaining brand trust is essential for a sustainable business model in the digital environment.

Conclusion: The cases of greenwashing, deception, misrepresentation, and false advertising discussed above emphasize the need for more transparency and accountability in green marketing and sustainability efforts. It is important for companies and institutions to be honest and authentic in their claims and actions to build trust with consumers. As consumers, we should be aware of these practices and support companies and organizations that prioritize sustainability and ethical practices. Together, we can create a better world for future generations.

https://www.theguardian.com/uk-news/2023/nov/25/kings-estate-transfer-cash-ethical-funds-bona-vacantia-revelations

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