AUM: $475 Billion
CEO: Harvey Schwartz
HQ: Washington D.C.
What Changed: Since the 2024 scorecard analysis, Carlyle sold Cogentrix to Quantum, which was Carlyle’s largest portfolio of power plants and included four coal-fired power plants. Quantum then sold Cogentrix to Vista Corp. NGP also exited a few upstream oil and gas drilling companies. Both factors contributed to The Carlyle Group’s significant overall decrease in emissions.
Read the Full Report and View 2026 Scorecard
2023 REPORT
The Carlyle Group’s Hidden Climate Impact
As one of the world’s largest private equity firms, The Carlyle Group invests heavily in fossil fuels, despite the urgent need to transition to renewable energy. For every $1 invested in renewable energy, Carlyle invests $16 in fossil fuels, exacerbating the global climate crisis.
Carlyle’s energy investments from 2011-2021 is heavily skewed toward fossil fuels with $22.4 billion in carbon-based energy and only $1.4 billion in renewables. This resulted in an estimated 277 million metric tons of CO2 emissions, which would take 4.6 billion newly planted trees ten years to remove.
Learn more about the financial and reputational risks of Carlyle’s fossil fuel investments and their impact on the planet and communities.
2023 REPORT
Carlyle Group’s Hidden Climate Impact
Updated: April 27, 2023
2022 REPORT
Carlyle’s Upstream Investments at Risk from the Energy Transition
This report finds Carlyle’s portfolio has been relatively more exposed to transition risk than almost all of the oil majors. Its net-zero target for its portfolio companies is not aligned with the goals of the Paris Agreement, highlighting increased risk for investors and the need for stronger transition planning.
