In 2022, Princeton divested from publicly traded fossil fuel companies, leaving $700 million invested in private equity fossil fuel companies. Quietly dividing oil and gas companies into two groups based on the technicality of their ownership model allowed Princeton to keep 40% of its fossil fuel investments untouched by divestment. It also enabled the University to maintain ownership of its own oil company, Petrotiger.

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This strategy is extremely detrimental to the environment because private equity fossil fuel companies are the worst actors in the fossil fuel universe. They are not subject to the same oversight or regulation as publicly traded companies. They operate through complex legal structures which allow them to escape responsibility for the damage they do to communities. Their financial accounts are not publicly available. They pursue maximum short-term profit with no accountability for the consequences. Princeton is complicit in the damage being done by its investments. 

 

2024 The Private Equity Stakeholder Project: Climate and Energy

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12/30/2024 The American Oil Industry’s Playbook, Illustrated: How Drillers Offload Costly Cleanup Onto the Public ProPublica 

10/14/2021 Private Equity Is Quietly Keeping Fossil Fuel Companies in Business New Republic 

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