CalPERS, Carlyle lead investor group in global push on ESG reporting

Photo: REUTERS/Max Whittaker

A group of global private equity firms and pensions funds managing over $4 trillion in assets have joined hands to standardize reporting on environmental, social and governance (ESG) performance of portfolio companies.

The group, led by Carlyle Group and the California Public Employees’ Retirement System (CalPERS), will track data on greenhouse gas emissions, renewable energy, board diversity and some other metrics of companies in their portfolio.

The partnership comes at a time when global businesses, lawmakers and investors are increasingly asking for more sustainable and inclusive ways of conducting business amid a diversity push and heightened concerns over climate change.

The investor group includes Canada Pension Plan Investment Board (CPPIB), Blackstone Inc, Sweden’s EQT AB , Permira and CVC Capital Partners.

Researchers Boston Consulting Group will aggregate the data into an anonymized benchmark, the statement said, adding that the group plans to meet on an annual basis to assess prior year’s data and build on initial metrics.

“We have found it challenging to effectively measure impact in our private equity portfolio because of the multitude of frameworks and definitions used,” said Marcie Frost, chief executive officer of CalPERS.

“This initiative simplifies sustainability reporting by using comparable metrics which allow us to gain insight into the investment risks and opportunities in our private markets portfolio,” Frost added.

The partnership is open to any general partners or limited partners who wish to join it, the statement said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.