In brief: Third of GPs divesting from fossil fuels, survey shows

The UK and North America lag mainland Europe in divestment plans, fund services provider Auxadi’s survey of private equity managers shows.

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.