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Prof. Michael McCann and Grad. Student Riddhi Mehta-Neugebauer on Yes! Magazine, "The Hidden Side of Fossil Fuel Investments: Private Equity"

Submitted by Albert Sub Yun on November 2, 2021 - 3:57pm

Prof. Michael McCann and Graduate Student Riddhi Mehta-Neugebauer write about the issue of private equity firms in the fossil fuel industry.

"From a new Private Equity Stakeholder Project report, documenting 10 of the largest private equity buyout firms’ energy holdings, we learn that 80% of their holdings are in fossil fuels. Over the last decade, private equity firms have heavily invested in exacerbating our climate crisis. And even with predictions of declining fossil fuel demand, increased regulatory pressure, and a growing list of climate-induced natural disasters, private equity firms continue banking on our extractive fossil fuels."

While public equity of fossil fuels goes down, the growth of private equity is becoming a problem.

Click here for the full article