New and Compelling Collaborative Efforts in the Private Equity World Pave Way for ESG Progress
Encouraging news out this week from the #privateequity world: a collaborative effort to progress a standardised set of #Environmental, #Social and #Governance (ESG) metrics and comparative reporting across leading global general partners (GPs) and limited partners (LPs).
Led by NASDAQ-listed global investment firm The Carlyle Group and The California Public Employees’ Retirement System (CalPERS being the largest US public pension fund), the so-called #ESG Data Convergence Project’s participants represent more than $4 trillion in assets under management (AUM). These organisations, thus, have a key role to play in driving ESG-focused systems change in #finance.
According to the group, the #collaboration will prompt more #transparency and comparability for LPs and allow GPs to reference themselves versus others, assess goals and accelerate advancements.
The initial six metrics include scopes 1 and 2 greenhouse gas #emissions, #renewableenergy, board #diversity, work-related injuries, net new hires, and employee #engagement.
Charles Darwin wrote: “It is the long history of humankind that those who learned to collaborate and improvise most effectively have prevailed.”
Where can your #business collaborate to ensure for the long history yet to come?