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‘They (Activists) Don’t Understand the Facts’: Henry Kravis Rebukes Climate Protesters Who Interrupted Him


These translations are done via Google Translate
Henry Kravis
Henry Kravis

KKR & Co. co-founder Henry Kravis pushed back against climate activists who interrupted a speech to criticize the firm’s fossil-fuel investments, saying they underestimate the difficulty of shifting the economy to clean energy.

Kravis was speaking on a panel at the Conference of Montreal on Monday when protesters walked to a podium on stage and accused him of “ruining Canada.” KKR owns a stake in Coastal GasLink, a controversial pipeline project in Western Canada that will supply gas to a huge liquefied natural gas facility on the coast of British Columbia.

“They don’t understand the facts,” Kravis, 80, said after the protesters were led away. “They would like to push a button and have no hydrocarbons.” It will take more than $200 trillion in investment to move the global economy to net-zero emissions by 2050, he said.

“I’m not quite sure I understand how we’re going to get there, and I don’t think we ever get there totally,” Kravis said, while acknowledging that climate change is a serious issue that requires significant measures.

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Last year, activists protested at the Museum of Modern Art in New York, calling on the institution to cut ties with Kravis and his wife, Marie-Josée Kravis, who’s the chair of MoMA.

Last week, Coastal GasLink sold C$7.15 billion of new debt — a record for a Canadian corporate bond deal — to refinance construction costs.

Also on Monday, more than 20 protesters were arrested outside of Citigroup Inc.’s headquarters in New York. The activists have promised a months-long campaign against the Wall Street bank.



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