Meet the ‘Czech Sphinx’ who pockets green subsidies while polluting Europe.

What’s the news?

• Czech billionaire and energy magnate Daniel Křetínský has made an unusual public intervention: calling on the EU to delay carbon emissions targets and rely on fossil fuels until green alternatives become cheaper.
• An investigation by Follow the Money reveals how Křetínský would gain from such a strategy, as he invests heavily in coal and gas, while taking hundreds of millions in subsidies from governments who say they want to transition to green energy.

Why does it matter?

• While Křetínský keeps a low public profile, his vast wealth – along with investments in retail and logistics – has made him an increasingly influential figure.
• His call for targets to be delayed comes at a pivotal moment for European policymakers, as Trump’s support for fossil fuels and roll-back of environmental protections send shockwaves around the world.