The energy portfolios of 20 private equity firms produce 1.5bn tons of greenhouse gases a year, more than the annual emissions of any country except China, the US, India and Russia, according to a new report.
Together, these firms manage $7.3tn in assets of all kinds, affording them the ability to shape the pace of the transition away from fossil fuels. However their energy investments include significant fossil fuel assets including natural gas and coal-fired power plants to provide electricity to datacenters.
The analysis of the top 20 private equity firms invested in global energy infrastructure was conducted by the Private Equity Climate Risks Consortium. It found that the firms owned 15,000 miles of pipelines, 124GW of power generation capacity across 370 fossil fuel-powered plants and hundreds of oil and gas fields.
Half of the top 10 US datacenter owners are backed by private equity, said Matt Parr, the communications director for Private Equity Stakeholder Project (PESP), one of the organizations in the Private Equity Climate Risks Consortium. “This industry doesn’t get enough scrutiny and credit for its contribution to global emissions,” Parr said. “It’s a very opaque business model.”
Wirecard_trading on
So the assets they hold are producing the emissions correct?
Stereo_Jungle_Child on
If you are serious about stopping global warming, you’d delete all your social media accounts, stop using crypto, and never touch AI again.
costafilh0 on
Nothing compared to what private equity built and developed in the world in just two centuries.
We would still be living in the 1800s if it wasn’t for private money investment.
WaffleTacoFrappucino on
Thats why they built the carbon trading market, profit
Ntroepy on
It’s hardly shocking that the top 20 private equity firms, which own stakes in some of the world’s largest businesses, would have their fingers throughout the energy industry.
yorangey on
Just carbon offset so they feel better. Greenwash & feel good.
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The energy portfolios of 20 private equity firms produce 1.5bn tons of greenhouse gases a year, more than the annual emissions of any country except China, the US, India and Russia, according to a new report.
Together, these firms manage $7.3tn in assets of all kinds, affording them the ability to shape the pace of the transition away from fossil fuels. However their energy investments include significant fossil fuel assets including natural gas and coal-fired power plants to provide electricity to datacenters.
The analysis of the top 20 private equity firms invested in global energy infrastructure was conducted by the Private Equity Climate Risks Consortium. It found that the firms owned 15,000 miles of pipelines, 124GW of power generation capacity across 370 fossil fuel-powered plants and hundreds of oil and gas fields.
Half of the top 10 US datacenter owners are backed by private equity, said Matt Parr, the communications director for Private Equity Stakeholder Project (PESP), one of the organizations in the Private Equity Climate Risks Consortium. “This industry doesn’t get enough scrutiny and credit for its contribution to global emissions,” Parr said. “It’s a very opaque business model.”
So the assets they hold are producing the emissions correct?
If you are serious about stopping global warming, you’d delete all your social media accounts, stop using crypto, and never touch AI again.
Nothing compared to what private equity built and developed in the world in just two centuries.
We would still be living in the 1800s if it wasn’t for private money investment.
Thats why they built the carbon trading market, profit
It’s hardly shocking that the top 20 private equity firms, which own stakes in some of the world’s largest businesses, would have their fingers throughout the energy industry.
Just carbon offset so they feel better. Greenwash & feel good.