The Carlyle Group's Hidden Climate Impact

The report finds that The Carlyle Group maintains a lopsided energy portfolio with approximately $22.4 billion in carbon-based energy compared to $1.4 billion in renewable energy. It argues that private equity firms act as 'pollution financiers of last resort,' acquiring dirty assets divested by public companies to allow those companies to greenwash their images while emissions continue. Between 2011 and 2021, Carlyle's fossil fuel investments contributed at least 277 million metric tons of greenhouse gases.

• The Carlyle Group's energy investments are heavily skewed toward fossil fuels, with approximately $22.4 billion in carbon-based energy assets and only $1.4 billion committed to renewable and sustainable energy, meaning the firm invested $16 in fossil fuels for every $1 invested in renewables.
• Carlyle's fossil fuel investments resulted in the emission of at least 277 million metric tons of CO2 and other greenhouse gases between 2011 and 2021, disproportionately affecting communities of color and low-income populations.
• Energy investments were a primary driver of Carlyle's 2022 profits, accounting for roughly half of the firm's total net income, largely due to over $660 million in investment income from its oil and gas subsidiary, NGP Energy.
• Private equity firms, including Carlyle, serve as 'pollution financiers of last resort' by acquiring high-polluting assets that public companies divest to meet decarbonization goals or improve public image, effectively transferring emissions rather than eliminating them.

APA

katherine (2023). The Carlyle Group's Hidden Climate Impact. Private Equity Climate Risks. https://www.peclimaterisks.org/the-carlyle-groups-hidden-climate-impact/

Chicago

katherine. The Carlyle Group's Hidden Climate Impact. Private Equity Climate Risks, 2023. https://www.peclimaterisks.org/the-carlyle-groups-hidden-climate-impact/.

Wikipedia

{{cite report |last1=katherine |title=The Carlyle Group's Hidden Climate Impact |publisher=Private Equity Climate Risks |date=21 April 2023 |url=https://www.peclimaterisks.org/the-carlyle-groups-hidden-climate-impact/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{katherine2023carlyle, author = {katherine}, title = {{The Carlyle Group's Hidden Climate Impact}}, institution = {Private Equity Climate Risks}, year = {2023}, month = apr, url = {https://www.peclimaterisks.org/the-carlyle-groups-hidden-climate-impact/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }