The Environmental Business Journalinterviewed PESP’s Nichole Heil on various projects PESP has worked on in the climate industry, including the Private Equity Climate Risks 2022 Scorecard & Report. Nichole discussed key PESP findings which included that PE firms lack transparency and their commitments to fossil fuels is alarming.
Environmental Business Journal Vol. XXXVI, Numbers 9/10, 2023: Private Equity Stakeholder Project holds private equity firms to account
“As Nichole explains, “Private markets have grown by 20% annually since 2017, reaching at least $12 trillion. A 2021 PESP analysis found that private equity firms have invested around $1.1 trillion in energy assets since 2010. Increasingly, private equity firms have popped up as regular buyers of assets dumped by other financial players like banks, big oil companies and utilities seeking to cut their emissions footprint. Lack of transparency and clarity around PE energy holdings creates risk for the public and investors. Private equity has only minimal financial regulatory oversight, so firms have been able to write their own narratives about the size of their energy holdings and climate impacts.”
You can read the full interview here: https://pestakeholder.org/wp-content/uploads/2023/12/EBJ.CE2023.PESPPages-1.pdf