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Kerry divested to avoid potential conflicts with companies he might regulate.
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Financial disclosures released by former Secretary of State John Kerry indicate that until March of this year he held hundreds of thousands of dollars of investments in energy-related companies that may end up being affected by policies he ll help shape as President Joe Biden s new climate envoy.
New climate czar John Kerry sold off energy holdings to avoid conflict of interest msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
John Kerry discloses millions in income from finance, energy firms
Photo: Anna Moneymaker-Pool/Getty Images
John Kerry disclosed millions in income and a massive stock portfolio that he s liquidated since taking office as President Biden’s special climate envoy, according to a financial filing obtained by Axios on Friday.
Why it matters: Kerry is among the wealthiest members of the Biden administration. He maintains significant influence over U.S. energy and environmental policy as Biden s climate envoy, a role that comes after he advised a number of firms in the space following his time as secretary of State.
The State Department, where Kerry officially works again, says he has divested assets that could pose a conflict of interest, and signed an ethics pledge barring him from participating in specific policymaking decisions that could affect his former clients and employers.
John Kerry discloses millions in financial ties, state department says Special Presidential Envoy for Climate has divested assets that could pose conflict of interest
Updated Apr 30, 2021;
John Kerry, the United States’ Special Presidential Envoy for Climate and former Massachusetts Senator, disclosed millions in income, including $5 million from Bank of America as well as a stock portfolio of up to $15 million, according to documents obtained by Axios.
The disclosures reveal Kerry is one of the wealthiest members of the Biden administration.
The State Department, according to the report, said Kerry has divested assets that could pose a conflict of interest, and signed an ethics pledge barring him from participating in specific policymaking decisions that could affect his former clients and employers.