Most major private-investment firms are working to cut down on emissions their portfolio companies send into the atmosphere. Private-equity executives know they need to make these changes to win investor commitments, especially from the $5.2 trillion public-pension sector.
"If you want to be able to manage money in red states and blue states and across the whole universe of institutional investors, then it can be pretty challenging to figure out how you thread the needle in describing what you are actually doing, what you've undertaken, and what you're willing to do for any particular investor — in a way that avoids any contradictions," he said.to rally their bases and frame climate-conscious investing as a boogeyman.
Characterizing the overall effectiveness of the private-equity industry's climate-crisis response relative to public-money managers is difficult because some firms have more robust decarbonization plans than others, with commitments all over the map, Andrew Howell, the director of investor influence at the Environmental Defense Fund, said.
As of mid-April, states have introduced 34 total divestment bills and actions overall, with six in effect, including some in New York, Maine, and Connecticut.But states have also introduced 85 total actions seeking to restrict ESG considerations from investment decisions. Currently, 24 are in effect in states including Florida, Arizona, and South Carolina; 49 are pending, and 12 failed to pass.
Lander's team gathered extensive feedback from asset managers in advance of the net-zero implementation commitment and took into consideration variables including the period of several years that private-equity managers typically hold their investments and what they could feasibly achieve during that time.
The private-equity giant KKR, whose upstream investments are largely within Crescent Energy, is invested in conventional energy through its infrastructure and energy-real assets businesses, Ken Mehlman, the global head of public affairs and the co-head of global impact at KKR, said.
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