Annual Sustainability Report

Volume 15: Driving a More Sustainable Future

Since 2009, Apollo has proudly published a comprehensive summary of our approach to sustainability across our ecosystem.

Road on a mountain
Marc Rowan Headshot
“Sustainability at Apollo is above all a potential driver of opportunity and growth. Leveraging the Apollo ecosystem, we get the opportunity to create products, solve problems and respond to markets, while serving our clients and investors.”  

Marc Rowan
Chief Executive Officer

2023 Sustainability Highlights 1, 2

Apollo-managed Funds deployed, committed or arranged $10 billion6 in clean energy and climate investments across asset classes in 2023, advancing progress toward our $50 billion target.  Apollo achieved carbon-neutral operations for the entire enterprise for the first time across our corporate Scope 1 and 2 GHG emissions by procuring carbon offsets from carbon removal projects and unbundled renewable energy certificates.  Apollo launched the multi-product Apollo Clean Transition (“ACT”) investment strategy that seeks to meet the wide-ranging capital needs for the global energy transition. Specifically, ACT Capital launched with $4 billion in deployable capital and aims to provide access to primarily private credit and hybrid investment opportunities, while ACT Equity focuses on traditional private equity with a climate lens.  Apollo’s ESG Credit team significantly scaled coverage and support of teams and strategies across Apollo and many of its origination platforms, and partnered with Apollo’s technology team to significantly scale reporting capabilities, delivering over 100 reports per quarter as part of broader efforts to expand data coverage and quality.  The Firm increased gender representation, with half of new hires at AGM being female.  The Firm doubled our Supplier Diversity spend goal to $2 billion in direct and indirect spending with diverse suppliers across Apollomanaged Funds’ private equity portfolio, after exceeding our original $1 billion target early.  Apollo committed $5.2 million in grants, up from $3 million last year, to 22 organizations sponsored by our employees via the Apollo Opportunity Foundation. Employees also volunteered more than 16,000 hours to support community partners, nonprofit organizations and other philanthropic causes.  Athene provided a $1.875 million seed investment7 for the Great Outdoors Foundation Conservation Fund. The Conservation Fund is a brand-new funding mechanism geared toward multiplying Iowa’s investment in water quality.

Driving Sustainability Across Our Strategies

We believe we can reduce risk and generate strong returns by driving sustainability across our strategies. 

Apollo’s Equity business seeks to deliver value to investors by helping to build and finance stronger businesses. The ESG Equity Team collaborates with Apollo-managed funds’ portfolio companies to help them build strong foundations and capabilities that aim to deliver near-term and continued value creation.

Apollo’s Credit business, our largest asset management strategy by assets under management, spans the full financing universe across private and public markets. Our integrated approach enables investment teams to collaborate with our dedicated ESG Credit Team to identify applicable risks and assess emerging opportunities. For more information, explore the 2024 ESG Credit Whitepaper.

Apollo’s Real Assets business focuses on investment opportunities across Infrastructure, Real Estateand more. Our infrastructure platform has a demonstrated track record in clean energy investments, with 14 to date in the wind and solar energy, energy storage and energy efficiency services industries.3

Note: As fiduciaries, we make informed investment decisions by considering a wide range of factors, which may include, but are not limited to, environmental, social and governance issues. Apollo integrates a variety of considerations to generate value for investors, where applicable and appropriate.

“Apollo offers more than just capital solutions to companies seeking to implement decarbonization programs or energy transition projects. We believe our flexible approach across debt, hybrid and equity financing solutions and deep bench of sustainability talent differentiates us from other corporate funding sources. And as a long-term partner, we offer clients a strategic combination of tools, training, operational expertise and more.”

Scott Kleinman
Co-President

Scott Kleinman Headshot

Sustainable Investing Platform

Through the Sustainable Investing Platform, Apollo leverages our deep expertise to deploy flexible capital to help enable the energy transition and the decarbonization of industry for companies, communities and investors.

Capital Deployed, Committed, or Arranged Toward Energy Transition and Decarbonization in the Last Five Years1

Dave Stangis Headshot
“After investing time and effort to build and fortify the foundation of what we believe to be an industry-leading sustainability strategy, we focused squarely on execution in 2023. It was gratifying to see so many teams across our Sustainability ecosystem collaborate throughout Apollo as we continued to scale our capabilities and deliver on behalf of our investors and partners.” 

Dave Stangis
Apollo Chief Sustainability Officer

Environment

In 2023, Apollo achieved carbon-neutral operations across our corporate Scope 1 and 2 GHG emissions for both our retirement services and asset management businesses by procuring carbon offsets from carbon removal projects and unbundled renewable energy certificates.  

Out of our 30 global office buildings, 9 are in green buildings and 3 Apollo commercial interior buildings are green certified.

“Green buildings” are buildings that have earned Energy Star, LEED, BEAM, and/or BREEAM certifications. “Green certified” refers to LEED, BREEAM, and/or BEAM certifications.

Human Capital

Apollo encourages employees to drive positive change in their communities. Through Citizenship and community events, 2,100+ Apollo employees volunteered more than 16,000 hours of time in 2023.

Athene colleagues wearing matching t shirts in front of a bus at a volunteering event

Governance

In 2023, Apollo maintained a Governance program and continued to refine our approach to ensure top-down excellence across our operations.


1. Deployment, commitment, or arrangement commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date. Apollo’s proprietary Climate and Transition Investment Framework is subject to change at any time without notice.

2. Amount spread over the next five years.

3. As of 12/31/2023.