GB News co-owner Paul Marshall's fossil fuel investments surge to $2.8bn in Q1 2026

In a striking financial move, Paul Marshall, co-owner of GB News, has seen his hedge fund’s investments in fossil fuel companies nearly triple to $2.8 billion in the first quarter of 2026. Critics argue that this surge aligns with the news channel's frequent attacks on climate action, suggesting a conflict of interest.

Fossil Fuel Investments Skyrocket

According to an analysis by the Guardian and DeSmog, Marshall Wace, the hedge fund chaired by Marshall, significantly increased its holdings in fossil fuel companies. The most noteworthy jump was in oil giant Chevron, where shareholding rose from $196 million to $864 million between December and March.

Marshall Wace also established new stakes in other major players: ConocoPhillips at $163 million, Shell at $72 million, and Devon Energy at $35 million. In contrast, investments in renewable energy and battery companies dropped by 30% to $415 million.

Critics Call Out Conflicts of Interest

Critics, including Mothin Ali of the Green Party, have accused Marshall of “cashing in on climate chaos.” They argue that GB News serves as a platform for climate denial, undermining the urgency of climate action. Richard Wilson, director of Stop Funding Heat, stated, “This isn’t journalism. It’s a channel working in its owner’s financial interests.”

Marshall has previously dismissed the scientific consensus on climate change, referring to it as “climate derangement syndrome.” His comments at the Alliance for Responsible Citizenship conference further fueled controversy, where he labeled net zero initiatives as “an ideology of fear and destruction.”

The Broader Impact of Fossil Fuel Investments

The implications of Marshall's investments extend beyond personal wealth. As the International Energy Agency reports, global investment in clean energy is rapidly increasing, while fossil-fuel investment stagnates. This disparity raises questions about the future trajectory of energy policy in the UK.

In light of these developments, many are calling on investors to reconsider their support for Marshall Wace. A spokesperson for the firm defended their position, stating that their investment strategies are complex and not solely focused on fossil fuels. However, critics remain unconvinced.