Calpers, Carlyle lead LP-GP ESG Data Convergence Project

The group aims to collate performance-based, comparable ESG data from private equity portfolio companies, allowing GPs to assess their performance against market peers and facilitating more transparency for LPs.

LPs who have committed to the initiative include AlpInvest Partners, APG, Calpers, CPP Investments, Employees' Retirement System of Rhode Island, PGGM, PSP Investments, Pictet Group, and the Wellcome Trust.

In addition to Carlyle, GPs who have signed up so far include Blackstone, Bridgepoint, CVC, EQT, Permira, and TowerBrook Capital Partners.

The programme remains open for new LPs and GPs who wish to join, according to a statement.

The initiative requires GPs to monitor and report six metrics from their portfolio companies from the start of 2021: greenhouse gas emissions, renewable energy, board diversity, work-related injuries, net new hires, and employee engagement. Boston Consulting Group (BCG) will aggregate and anonymise the data.

The group expects to hold annual meetings to review the data collected and to develop the initial six metrics.

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