Apax et al. launch emission curbing scheme in France

José Rojo
25 November 2015

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French GPs Apax Partners, Ardian, Eurazeo, LBO France and PAI Partners have launched Initiative Carbone 2020 (IC20), a joint scheme to curb emissions among portfolio companies.

Announced by the heads of all five GPs on 25 November, the initiative will feature an initial assessment of the direct and indirect carbon footprint among portfolio companies. Based on that analysis, action plans will be drafted to curb emissions among the businesses.

Starting in 2016, the scheme will first be tested among 30 portfolio companies, with plans to extend it to all businesses and publish comprehensive carbon footprint figures by 2020.

The data will be sourced via the efficient supply chain economic & environmental reporting (ESCHER) methodology. Developed by PwC, the model draws on statistics from the UN-, OECD-, Eurostat- and World Bank-backed Global Trade Analysis Project.

The initiative is supported by French industry body Afic, which has hosted talks on the matter since an ESG commission was set up in 2013.

The emission-curbing commitment from the five GPs, representing €70bn in managed assets, comes weeks after the French state announced a €4bn scheme to support an energy and environmental transition within the country's economy.

The funds, to be fully deployed via state investor BPI France by 2018, will support French SMEs as they work towards an energy-efficient business model.

The increased spotlight on environmental- and energy-related investment in France takes place days before the kick-off of the UN Climate Change Conference, to be hosted in Paris from 30 November to 11 December.