Incoming climate secretary general to give up stake in company

Keit Kasemets.
Keit Kasemets. Source: ERR

Keit Kasemets, incoming secretary general of the Ministry of Climate, owns a stake in climate and environmental change company ClimaCash but says he is in the middle of transferring it to avoid a conflict of interest.

ClimaCash outlines its business idea as bringing together people who lack motivation to be environmentally friendly as it is too expensive and responsible companies who cannot yet be fully climate neutral.

One of the firm's founders is Keit Kasemets, set to become the secretary general of Estonia's new Ministry of Climate following a corresponding proposal by Climate Minister Kristen Michal.

"The aim [of the company] is to offer people ways to reduce their carbon footprint, motivate environmentally conscious behavior," Kasemets said.

He added that even though he has not worked for the company and has rather been one of the owners and investors, he plans to transfer his stake to avoid a conflict of interest. "The process should be concluded this week after some formal processes go ahead."

Kasemets is set to become the secretary general of the ministry on June 21.


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Editor: Marcus Turovski

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