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Blackstone, Apollo Among Holdouts Snubbing New Finance Club

  • Private equity firms have ignored Mark Carney’s climate deal
  • Net-zero alliance currently represents $130 trillion in assets
Mark Carney
Mark CarneyPhotographer: Simon Dawson/Bloomberg
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As the dust settles on the finance industry’s most ambitious climate coalition yet, some of the biggest names on Wall Street have remained conspicuously absent.

Among key holdouts is the world’s No. 1 private-equity firm, Blackstone Inc., which leads a parade of buyout behemoths, including Apollo Global Management Inc. and KKR & Co. Inc. None of the three has signed up to a pledge unveiled during COP26 to eliminate CO2 emissions and help avoid catastrophic planetary overheating.