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Farage lined up for €18.5mn carbon windfall despite climate scepticism

Former Brexit champion Nigel Farage is set to earn up to € 18.5 million from stock options in a carbon offsetting company despite launching a new campaign opposing government policy. “Zero zero” target for 2050.

Farage, a former leader of the UK Independence Party, announced in March 2021 that he had become chairman of the Dutch Green Business Advisory Board, listed on Euronext Amsterdam.

He was introduced to the company by his friend John Muffin, the pro-Putin heir of Jewelry Capital, Scientologist And anti-waxxer, which together with his wife owns 30% of DGB shares, according to Bloomberg data.

Farage received One million stock options at the DGB shareholders’ general meeting in September 2021, with an “exercise price” – the price he will pay for them – of 1.50 euros.

But that month his advisory position was frozen due to a dispute between the board of directors and Muffin and his wife, Irina Kodernok-Mepin, over their holdings in the shares. “Right now my relationship (with DGB) is down,” Farage told FT.

The options can be exercised if DGB’s share price jumps from the current 1 euro to 20 euros, yielding 18.5 million euros, according to an investigation by Greenpeace’s “exposed” investigation unit. Faraj reduced that likelihood. “If I had a better outlook at Cheltenham last week, I would have won £ 20 million,” he said.

John Muffin and his wife Irina after winning bets on Donald Trump becoming US President. They are currently in dispute with the DGB board © Ben Birchall / PA

DGB advises companies on how to use products such as carbon offsets to become carbon neutral. On of the company Website, Faraj was quoted as saying there would be “huge amounts of money in all of these areas over the next few years, as companies are forced by legislation to offset their CO2 emissions.”

The former Ukip leader’s involvement in carbon offsets seems to contradict his reputation as a skeptic of climate change. He is a senior figure in a new campaign called Vote Power Not Poverty, which is fighting for the UK Government’s clean zero target.

B Recent article in the Telegraph Faraj argued against “rich landowners” earning “in the name of saving the earth.” The DGB website says it works with landowners who can make money from “wildlife-friendly land management”.

Ed Davy, leader of the Liberal Democratic Party, said: “Faraj is pathetically trying to provoke a reaction against rich people who are supposedly making big profits from climate action, while seeking to make big profits from climate action himself.”

Faraj told FT that his campaign against zero nets is not about global warming but has focused on the UK using local sources of oil and gas rather than imports. “I have always been a conservationist, even before the Green Party was born,” he said.

He added that his main concern in the UK was “from transferring wealth from poor to rich” through generous subsidies paid by levies on electricity bills to landowners.

Mappin is the successor to the Mappin and Webb jewelry family. He shared conspiracy theories about vaccines and funded right-wing political goals, including Turning Point UK, a student-centered group that supported Donald Trump.

John Muffin and his wife Irina at their Camelot Castle Hotel in Tintgel, Cornwall. DGB said “he has nothing to do with the Mappin family” © Ben Birchall / PA

His Twitter timeline shows multiple reactions defending Vladimir Putin’s actions in Ukraine. he Tweeted on February 24th“What President Putin has done is a gift for world freedom. Those who love freedom have a duty to back it up.”

In September 2020, DGB announced that it was “happy” that Champagne and his wife had been appointed chairman and director of the company’s board.

But, the company said, “since then several incidents and new information have emerged that shed new light on the motive for their candidacy. Therefore, DGB decided to withdraw from the candidacies of John Muffin and Irina Kudernok-Mepin as non-executive board members and terminated the appointment.”

Selvin Doibstein, CEO of DGB, said the connection with Faraj was pending and has been under investigation since September.

“We share a mutual passion for planting trees, but the DGB disagrees with its recent comments on net zero,” he said, adding: “The DGB has nothing to do with the Muffin family and does not agree in any way with their political views. We stay away from them completely.”

Muffin said: “Our dispute with DGB is being handled by lawyers and they have advised us not to comment at this stage.”



Farage lined up for €18.5mn carbon windfall despite climate scepticism Source link Farage lined up for €18.5mn carbon windfall despite climate scepticism

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