Private Equity Firms Double Down on Fossil Fuels

Despite pressure from some governments and consumers for a global energy transition, private equity firms continue to invest heavily in some of the world’s largest greenhouse gas emitters. Following the Covid-19 pandemic, several companies, banks, and even energy companies began introducing stronger environmental, social, and governance (ESG) standards, including measures to decarbonise operations. However, just a couple of years later, many companies have backtracked on their ESG goals, and private equity firms are continuing to fund some…