A leading private equity firm claimed to be a climate leader – while increasing emissions

The Carlyle Group’s 2011-22 greenhouse gas footprint was roughly equivalent to Alaska’s ‘carbon bomb’ Willow drilling project

A leading private equity firm that claims to be an industry climate leader in fact almost doubled its average annual greenhouse gas emissions from fossil fuel investments over the past decade, according to new research.

The Carlyle Group’s portfolio of fossil fuel companies emitted an estimated 277m metric tons of carbon dioxide equivalent (CO₂e) – a measure that includes methane and other potent global-heating gases – from 2011 to 2021, according to an investigation into the company’s energy portfolio.