Top 20 private equity firms’s energy assets emit $1.5bn tons of greenhouse gas a year, analysis finds
Summary
A new report shows that 20 top private equity firms own energy assets releasing 1.5 billion tons of greenhouse gases yearly, more than most countries. These firms manage $7.3 trillion in assets and hold large fossil fuel investments like pipelines, power plants, and oil and gas fields, impacting climate change efforts.Key Facts
- The energy assets of 20 private equity firms emit 1.5 billion tons of greenhouse gases annually.
- This amount is higher than the emissions of any country except China, the US, India, and Russia.
- Together, these firms manage $7.3 trillion in all types of assets.
- The firms own 15,000 miles of pipelines and 124 gigawatts of fossil fuel power capacity across 370 plants.
- Private equity owns hundreds of oil and gas fields worldwide.
- Half of the top 10 US datacenter owners are financed by private equity firms.
- Since 2010, private equity has funded over $1 trillion in fossil fuel assets.
- Some firms, including BlackRock, GIP, and EQT, have increased fossil fuel investments since 2024, despite promoting climate goals.
- Blackstone invested $2.16 billion for part ownership of an Indiana utility planning a 2,300 MW natural gas plant to power datacenters, which will add emissions.
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