© Reuters.
By Emma-Victoria Farr
(Reuters) – European private equity firm Cinven said on Thursday it had mandated an external adviser to undertake a carbon footprint review of its operations and portfolio emissions as part of efforts to set a net zero target in 2022.
The London-based buyout fund has been monitoring greenhouse gas emissions data from its portfolio companies on a quarterly basis since 2015 and has appointed Allegra Day as its new ESG director.
“The impact of climate change requires all stakeholders – including financial institutions – to act,” Cinven’s managing partner Stuart McAlpine said.
“The transition to a net zero economy also presents opportunities to invest in businesses mitigating and adapting to the effects of climate change,” he added.
Cinven did not disclose details of the newly-appointed adviser.
In 2019, Cinven appointed an external expert to undertake an analysis of its entire portfolio regarding climate-related financial disclosures.
Its aim is to identify potential climate-related risks that could affect the financial performance of its portfolio companies.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment