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.
(Reporting by Emma-Victoria Farr; editing by Pamela Barbaglia and Barbara Lewis)
