Thirty-one percent of private equity firms have started to divest from fossil fuel-related investments, according to a survey by Auxadi of 100 private equity fund management professionals. The fund services provider reports that 43 percent plan to begin the divestment process within the next year. Auxadi’s survey referred to divestment “with the goal of achieving net zero targets”, a spokesperson for the company said.
European managers (excluding the UK) are furthest advanced, with 50 percent of respondents having already started divesting, according to the survey. The figure for North American GPs stands at 26 percent, and 27 percent for UK respondents. No one said their firm would “never” divest.