If you thought that Greenpeace was a charity dedicated to ethical trading and high standards, it seems that you may be mistaken. Greenpeace have got themselves into a 3.8 million Euro loss on currency speculation. According to Greenpeace:
The tone of this statement and the mode of operating with international currencies look more like the practices of a multi-national business, which in reality it approaches.
The Guardian highlights the impact that it may have on its contributors:
“The most significant damage may be to the trust of its supporters: 90% of the organisation’s funding comes from small donations of less than €100…Greenpeace’s international programme director, Pascal Husting, told the Guardian that the organisation did not generally use its funds to make investments or speculate on the stock market, but kept money in deposit accounts where it could be withdrawn quickly when needed, such as when 28 of its activists were arrested after staging a protest at a Russian offshore oil rig last year.”
Another issue recently was the accusation that Greenpeace is holding back vital development in India, and was a ‘threat to national economic security’. In a recent report from the Intelligence Bureau of India, Greenpeace was stated to be big enough to negatively influence the internal affairs of India:
We know that Greenpeace is misguided in its unthinking support for renewables in the UK, but now you can add currency speculation and subverting the affairs of developing nations, to the list of inappropriate use of your generous charity funds.
Photo by Nick Kenrick .