The carbon footprints of the investments were calculated by examining the equity stakes that the billionaires held in companies. Estimates of the carbon impact of their holdings was calculated using the company’s declarations on scope 1 emissions – direct emissions from sources owned or controlled by a company – and scope 2, indirect emissions.
Scope 2 emissions are those from the products sold by the company. For example, if you fill your car up at Exxon, the emissions from you driving on that tank of gas is part of Exxon’s scope 2 emissions. The fossil fuel industry is mostly scope 2 emissions, while a company like Amazon is mostly scope 1 emissions.
(The Gates foundation has $1.4 billion invested in fossil fuel companies like BP)[theguardian.com/…/gates-foundation-has-14bn-in-fo…]. If you look at that article, Gates has the second- highest carbon footprint on that list of billionaires. Reading that article, it seems very likely that Gate’s emissions are mostly scope 2.
Completely halting Gates emissions, as calculated this way, would involve just shutting down whatever percentage of BP he owns. Gas prices would get higher, without actually solving any of the underlying issues causing that demand, like car-centric urban design. It’d likely do nothing, as other gas companies would start to pump more in the medium term and emissions would quickly go back up.