Brookfield’s Climate Paradox: Climate Pledges vs. Fossil Fuel Reality

The report alleges that Brookfield Corporation engages in greenwashing by underreporting its carbon footprint and maintaining significant fossil fuel investments, specifically through its ownership of Oaktree Capital, while publicly pledging to reach net-zero emissions.

• Brookfield Corporation's actual annual emissions from fossil fuel investments, including those of Oaktree Capital, are estimated at 159 million metric tons of CO2 equivalent (CO2e), which is nearly 14 times the 11.8 million mt CO2e disclosed in the company's sustainability reports.
• The acquisition of a majority stake in Oaktree Capital Management added assets responsible for an estimated 82 million mt CO2e per year, including investments in methane polluters such as Caerus Oil & Gas, yet these emissions were omitted from Brookfield's 2021 and 2022 sustainability reports.
• Brookfield's net-zero commitment is considered unreliable due to the company's incomplete accounting of Scope 3 emissions, which represent the largest part of a financial institution's carbon footprint.

APA

Private Equity Stakeholder Project (2023). Brookfield’s Climate Paradox: Climate Pledges vs. Fossil Fuel Reality. https://pestakeholder.org/reports/brookfields-climate-paradox-climate-pledges-vs-fossil-fuel-reality/

Chicago

Private Equity Stakeholder Project. Brookfield’s Climate Paradox: Climate Pledges vs. Fossil Fuel Reality. 2023. https://pestakeholder.org/reports/brookfields-climate-paradox-climate-pledges-vs-fossil-fuel-reality/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=Brookfield’s Climate Paradox: Climate Pledges vs. Fossil Fuel Reality |date=5 December 2023 |url=https://pestakeholder.org/reports/brookfields-climate-paradox-climate-pledges-vs-fossil-fuel-reality/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2023brookfields, author = {{Private Equity Stakeholder Project}}, title = {{Brookfield’s Climate Paradox: Climate Pledges vs. Fossil Fuel Reality}}, institution = {Private Equity Stakeholder Project}, year = {2023}, month = dec, url = {https://pestakeholder.org/reports/brookfields-climate-paradox-climate-pledges-vs-fossil-fuel-reality/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }