Garbage Man: Bill Gates Earned Billions Investing in Climate-Polluting Landfills

Bill Gates’ climate advocacy sits in sharp contrast with a major investment he has rarely discussed: a 38% stake in Republic Services, America’s second-largest landfill operator, now worth about $29 billion. He began investing in 1999, before he focused on climate change, and the holding has grown into more than a fifth of his net worth. Republic’s stock has risen thirtyfold, and Gates has received $2.6 billion in dividends. The investigation examines whether Gates, through his wealth and close associates on the company’s board, could press Republic to reduce its climate impact.

Landfills produce methane as buried organic waste decomposes. The gas traps far more heat than carbon dioxide in the near term, and Republic’s emissions are equivalent to those of about 3 million cars annually. Federal inspectors have repeatedly found methane escaping from its landfills above legal limits. Although Republic once pledged to cut emissions 35% by 2030 and promoted its environmental credentials to win contracts and attract investors, it has not adopted the more ambitious target of its main competitor. It has also lobbied against policies that would reduce landfill waste, including measures to divert organic garbage. Meanwhile, Gates-backed climate initiatives and startups have explored methane solutions, including a successful test of methane-digesting microbes at a Republic site. The central tension is whether a highly profitable company - and its largest shareholder - will prioritize meaningful emissions cuts.