Celebrities have found a way to avoid taxes because of climate change

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Celebrities have found a way to make investment more profitable and avoid taxes. Funds donated to the charity Prime Coalition, which specializiruetsya including projects to combat climate change and to date has collected $ 76 million, writes Bloomberg.

The basis of the idea formed a special mechanism — program-related investments, which is part of the American practice of taxation. Unlike conventional grants, involving grant investment, PRI also brings a financial return. Under U.S. law, charities have the right to buy shares of a company, but not more than 20% (otherwise they have to pay taxes). Instrument PRI is a way to circumvent the restriction, provided that the ultimate purpose of investment is charity.

In 2014, the Fund was established Prime Coalition, which attracted the money of wealthy families and some charitable organizations. 2018 is a financial support for environmental start-UPS like Via Separations where invented more secure from the point of view of ecology a way of separating chemical substances. Scientists developed special material allows to reduce the emissions of carbon dioxide (CO2) into the atmosphere. Among those who invest in Prime Coalition, composed of British investor Jeremy Grantham, Hollywood actors will Smith and jada Pinkett Smith, an American entrepreneur in the field of software Orion Hindawi and others.

According to experts, the state prefers to Fund projects that have already proven themselves. We are talking about the cost of renewable energy (solar, wind) or the development of electromobile industry. Weak support from the state or the lack of it becomes a serious problem for startups.

To qualify for funding from the Prime Coalition, startups need to reduce greenhouse gas emissions by 500 million tonnes of CO2-equivalent by 2050. For easier calculation, Prime has developed a special software — CRANE. This year it was announced that anyone can take advantage of technology and to assess the long-term consequences for the climate.

Video, photo All from Russia.

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