Schwerin, Germany — The board of a controversial foundation linked to the now-defunct Nord Stream 2 natural gas pipeline will resign in the wake of the uproar in Germany surrounding Russia's invasion of Ukraine.
The Klimastiftung MV (Climate Foundation Mecklenburg-Vorpommern) had been criticized since its establishment in January 2021 for supporting climate change projects while at the same time supporting schemes linked to the construction of the German-Russian pipeline.
It was financed by the firm behind Nord Stream 2 to the tune of millions of euros.
Mecklenburg-Vorpommern state premier Manuela Schwesig announced an agreement with the board of directors of the foundation on Tuesday, according to which the board will be expected to leave their posts at the end of September.
The foundation's business operations are to be wound up by that time.
The step is intended to enable the dissolution of the foundation as requested by the state parliament.
A former premier of the state of Mecklenburg-Vorpommern, Erwin Sellering, is chairman of the board of directors. He has argued that there was no legal way for the board to dissolve the foundation themselves, leading to the process agreed on Tuesday.
The foundation's climate projects are to be taken over by Mecklenburg-Vorpommern state authorities, which will provide €5 million ($5.3 million) in funds.
©2022 dpa GmbH. Distributed by Tribune Content Agency, LLC.