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Private Equity Firms Ploughing Billions Into Fossil Fuels, Analysis Reveals
Private equity firms are using US public sector workers' retirement savings to fund fossil fuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis. From a report: They have ploughed more than $1tn into the energy sector si...
Private equity firms are using US public sector workers' retirement savings to fund fossil fuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis. From a report: They have ploughed more than $1tn into the energy sector since 2010, often buying into old and new fossil fuel projects and, thanks to exemptions from many financial disclosures, operating them outside the public eye, the researchers say. In many cases they are mortgaging workers' futures by taking the money they have put away for old age and investing it in assets that risk serious damage to the climate, the report claims.
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