Madonna has been slammed for investing in environmental damaging companies.
The singer - who headlined Live Earth London on Saturday night (07.07.07), which was held to raise awareness of global warming - is said to have invested approximately £2.1 million into companies named among the world's biggest polluters. Madonna's Ray of Light Foundation allegedly owns shares in companies including Alcoa, Ingersoll Rand, BP and several others associated with oil exploration and refining.
In 2002, the University of Massachusetts ranked Alcoa ninth on a list of America's all-time most toxic companies. Alcoa is currently facing fierce criticism from several green groups for building aluminium smelters that are believed to threaten the environment.
Madonna's foundation also reportedly owned 175,000 shares in Ford Motor Company - which only make one environmentally friendly hybrid car - in 2005. The same year Madonna owned approximately 1,000 shares in Weyerhaeuser Corporation - which makes paper and provides wood for housing - and the share price has since rocketed from $63 to $80. Green activists have branded Weyerhaeuser Corporation "one of America's worst environmental performers".
Madonna, 48, has now defended herself against the criticisms levelled against her, insisting she is only just beginning to live an eco-friendly lifestyle.
Her spokesperson said: "Madonna's agreement to sing at the Live Earth event is merely one of the first steps in her commitment to being environmentally responsible. She is educating herself and her family and has begun to make changes around her that reflect her awareness and concern for the future of the planet."
Earlier this week, it was claimed Madonna's carbon footprint is the equivalent of 14,000 people in Malawi. Madonna - who urged people to reduce their carbon footprint, the measure of an individual's carbon emissions, at Live Earth London - has nine homes around the world, six cars and takes three private jet trips a year. | 
