Leading global GPs and LPs have partnered to align on a standardized set of ESG metrics and mechanism for comparative reporting.
The Project's objective is to streamline the private investment industry’s historically fragmented approach to collecting and reporting ESG data in order to create a critical mass of meaningful, performance-based, comparable ESG data from private companies. This allows GPs and portfolio companies to benchmark their current position and generate progress toward ESG improvements while enabling greater transparency and more comparable portfolio information for LPs.
To create this convergence, the Project’s participating firms have agreed to report on a core set of ESG metrics across six categories and drawn from existing frameworks. The categories include greenhouse gas emissions, renewable energy, board diversity, work-related injuries, net new hires, and employee engagement. For the 2021 calendar year, GPs will track and report the agreed-upon metrics in a standardized format for underlying portfolio companies. The data will be shared directly with invested LPs, and aggregated into an anonymized benchmark by Boston Consulting Group (BCG), which is supporting the overall effort.
The group plans to meet annually to assess the prior year’s data, and to refine and build on the initial metrics, prioritizing materiality. This collaboration is intended to be a long-term mechanism to increase the quality, availability, and comparability of ESG data in private markets.
The partnership is open to any private market investors that wish to join and agree to support the principles of the work. The effort encourages private market industry stakeholders to work together to gather better, decision-useful ESG data in order to generate deeper insight into ESG factors and their relationship to financial outcomes, and, ultimately, to drive greater progress on critical ESG issues.
To learn more about this initiative please see the following resources:
Overview materials to learn more about the ESG Data Convergence Project.
Access the 2022 reporting template.
Submit your data to the project.
Indicate interest and receive more information on the Project.
Access the technical guidance handbook for Project reporting.
Formally join the Project by submitting the commitment survey.
Review frequently asked questions.
Upcoming Informational Sessions:
We most recently held an information session for GPs and LPs on February 23rd, and are in the process of confirming the date for the next information session.
Participating LPs and Investment Managers:
Adams Street Partners
Argentum Asset Management
Azalea Investment Management Pte. Ltd.
Border to Coast Pensions Partnership
British Columbia Investment Management Corporation (BCI)
California Public Employees' Retirement System (CalPERS)*
Cambridge University Endowment Fund
Dai-Ichi Life Insurance Company, Limited
Employees’ Retirement System of Rhode Island
Esses Capital Partners
Fjärde AP-fonden (AP4)
Golding Capital Partners
Investment Management Corporation of Ontario (IMCO)
Japan Post Bank
Japan Post Insurance
LGPS Central Limited
LGT Capital Partners
New York State Common Retirement Fund (NYSCRF)
Nippon Life Insurance Company
Nomura Asset Management
Norinchukin Zenkyoren Asset Management
San Francisco Employees' Retirement System (SFERS)
SEB Private Equity
Sumitomo Mitsui Trust Bank
SwanCap Investment Management S.A.
The Pictet Group*
UBC Investment Management Trust Inc.
Universities Superannuation Scheme
University Pension Plan Ontario
Willis Towers Watson (WTW)
AE Industrial Partners
AEA Investors LP
Alantra Private Equity
American Industrial Partners
Apollo Global Management
Appian Capital Advisory LLP
Artá Capital SGEIC
Audax Private Equity
Avista Capital Partners
Baring Private Equity Asia
Birch Hill Equity Partners
Blue Horizon Corporation AG
Blue Wolf Capital Partners
Bridgepoint Group Plc*
Cerberus Capital Management
Denham Sustainable Infrastructure
DPE Deutsche Private Equity
Frazier Healthcare Partners
FullCycle Climate Partners
Global Infrastructure Partners
Goldman Sachs Asset Management
Grain Management LLC
Madison Dearborn Partners
Manulife Investment Management
Mayfair Equity Partners
Montagu Private Equity
New Mountain Capital
Next World LLC
Northleaf Capital Partners
Oaktree Capital Management
Orion Resource Partners
Palladium Equity Partners
Parcom Capital Management
Pioneer Point Partners
Pollen Street Capital
Quantum Energy Partners
Rivean Capital BV
Riverstone Holdings LLC
The Jordan Company
The Rohatyn Group
Tishman Speyer Properties
Vista Equity Partners
Welsh, Carson, Anderson & Stowe
Aligned Investment Advisors and Consultants:
Investment Consultants Sustainability Working Group - US
Phenix Capital Group
Segal Marco Advisors
Willis Towers Watson (WTW)
*Steering Committee Member
List up-to-date as of 2022/05/05
For more information or to contact the Project with questions reach out to ESGmetrics@bcg.com.