Profits from oil-and-gas production have surged as crude prices hover at elevated levels, but volatile returns and a fraught political climate have created a divide among the biggest private-equity firms about whether investing in the sector is worth the headache.
That has caused some of the biggest buyout firms to dial back their investment in the sector. Blackstone Inc. has said that neither of its energy businesses will make new investments in oil-and-gas exploration and production. Apollo Global Management Inc. forswore new fossil-fuel investments in the $25 billion buyout fund it is in the process of raising.
According to the report, which covers roughly 30% of global gold production, scope one and two greenhouse gas emissions fell 1% on year in 2021 to 27,617 ktCO2e, with the industry’s largest names such as Newmont Corp. and Barrick Gold Corp. aiming to cut emissions by 30% by 2030.
Read more: Market Watch
