UK peer Olivia Bloomfield faces scrutiny over her support for nuclear company Terrestrial Energy, with questions raised about transparency and accountability.
Questions over Tory peer’s support for nuclear company’s UK ambitions
Olivia Bloomfield has supported Terrestrial Energy since 2018, including in advisory roles for which she received share options. She organised for top executives of the company to meet ministers on two occasions in 2018 and later helped recruit two fellow peers to the company’s advisory board.
Background
Bloomfield joined the House of Lords in 2016 after being nominated by David Cameron when he quit Downing Street. She ran Tory fundraising from 2006 to 2010. Her support for Terrestrial Energy appears to have begun around April 2018, when she met the junior business minister ‘Richard Harrington’ with executives from the company.
David Cameron was born on October 9, 1966, in London, England.
He studied at Eton College and later graduated from Brasenose College, Oxford.
Cameron began his career in politics as a Member of Parliament for Stafford in 2001.
He served as the Prime Minister of the United Kingdom from 2010 to 2016, leading the Conservative Party.
During his tenure, he implemented various policies, including the same-sex marriage law and austerity measures.
Cameron also played a key role in the Brexit referendum, advocating for the UK's departure from the EU.
Meetings with Ministers
Bloomfield met with ‘Richard Harrington’ in April 2018, and later with Stuart Andrew, a junior minister in the Wales Office. Officials’ notes show that Terrestrial Energy pushed for government grants to be given to companies developing reactors. Bloomfield helped secure the meeting with Andrew and sent documents drawn up by Terrestrial Energy to promote its case.
Terrestrial energy refers to renewable energy sources derived from the Earth's natural resources.
This category includes solar, geothermal, and wind power.
Solar energy is generated through photovoltaic panels or solar thermal systems, harnessing 'sunlight' to produce electricity.
Geothermal energy leverages heat from the Earth's core to power turbines.
Wind power utilizes wind turbines to convert kinetic energy into electrical energy.
According to the International Energy Agency (IEA), renewable energy accounted for 26% of global electricity generation in 2020.
Share Options
Bloomfield was awarded share options by Terrestrial Energy in 2018, which could prove highly valuable later this year when the company launches its shares publicly for the first time on an American stock exchange. She said she took the options for the role instead of a fee because Terrestrial Energy had yet to make a profit.
Investigation
Jonathan Rose, a political integrity expert at De Montfort University, said there were questions ‘about whether she has always acted with openness and accountability’ . He suggested that the House of Lords’ rules should be investigated as a matter of urgency. Bloomfield said she was ‘scrupulous’ in her declarations and strongly maintained she did not breach the code of conduct.
Jonathan Rose is a British author and academic, born in 1960.
He is known for his work on environmentalism and social change.
Rose has written several books, including 'The Ethics of Food' and 'A Newer World Order'.
His work focuses on the intersection of politics, economics, and environment.
Rose is currently a Reader at the University of Bath, where he teaches sustainable development and global justice.
Recent Developments
Bloomfield returned to Terrestrial Energy in August 2023, less than three months after leaving government, and was awarded fresh share options as remuneration for a role as an ‘ad hoc consultant responsible for future fundraising and headhunting suitable individuals to join the firm’. Susan Hawley, a campaigner and director of Spotlight on Corruption, said that this development was ‘deeply concerning’ and suggested further investigation was in order.
Response from Terrestrial Energy
A spokesperson for Terrestrial Energy said they trust and require their employees and advisers to operate in line with all relevant laws, ethics policies, regulations, and codes of conduct. They would take any breaches of those rules seriously and had been assured by Bloomfield that she had only ever acted for them in accordance with the code.
Calls for Investigation
The issue has raised questions about whether Bloomfield‘s support for Terrestrial Energy was transparent and in line with the House of Lords’ rules. The Advisory Committee on Business Appointments (Acoba) regulates jobs taken up by former ministers, but it appears that Bloomfield did not disclose some of her activities while a minister.
- theguardian.com | Questions over Tory peer’s support for nuclear company’s UK ambitions
