Private Equity Firms Invest Billions in Fossil Fuels: A Climate Crisis in the Making! 🌍

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Summary:

  1. Massive Investments in Fossil Fuels
    Private equity firms are investing heavily in fossil fuel projects, utilizing US public sector workers’ retirement savings to finance operations that release over a billion tonnes of greenhouse gases annually.

  2. $1 Trillion Invested Since 2010
    Since 2010, these firms have pumped more than $1 trillion into the energy sector, acquiring both old and new fossil fuel projects while often operating without transparency due to financial disclosure exemptions.

  3. Risking Workers’ Futures
    The analysis indicates that workers’ retirement funds, accumulated for their future, are being mortgaged in favor of investments that pose significant risks to the climate.

  4. Limited Disclosure to Pension Managers
    Public sector workers’ money, sourced from national, state, and retirement pensions, fuels many private equity energy investments, but pension fund managers receive limited information about the potential climate impacts of these investments.

  5. Significant Carbon Footprint
    Researchers from Americans for Financial Reform Education Fund, Global Energy Monitor, and the Private Equity Stakeholder Project assessed the holdings of 21 private equity firms managing a total of $6 trillion in assets, revealing their funding for projects responsible for emitting over 1.17 billion tons of CO2 equivalent each year.

Read more at: The Guardian

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