ESG best practices for private equity fund managers

The growing emphasis on sustainable, 社会责任和与使命相关的投资提高了人们对中端vwin娱乐场官方私人股本基金经理在环境问题上表现出更大透明度的期望, 社会, 和治理(ESG)问题. 在正在进行的投资组合管理中，推动ESG政策制定和财务和非财务问题的报告是显而易见的, 在&A due diligence for both buy-side and sell-side transactions. 这就是聪明的商业, 因为有大量证据表明，拥有强有力的ESG主张可以提高投资组合公司的估值.

The prioritization of ESG by private equity firms is happening organically too, 随着投资经理意识到跟踪ESG在筹集资金和吸引顶尖多元化人才方面的商业价值, according to RSM’s 环境、社会和治理咨询 services practice. 越来越多的普通合伙人自愿成为国际公认承诺的签署国, such as the United Nations’ Principles for Responsible Investment (PRI), 作为将ESG因素纳入投资决策和积极所有权的公开承诺.

“想要在当今竞争日益激烈的vwin娱乐场官方中脱颖而出的私募股权基金，应该专注于使自己的投资实践与ESG目标保持一致,安东尼·迪坎迪多说, a partner in RSM’s 环境、社会和治理咨询 services practice. 这么多都取决于结果, 对于中端vwin娱乐场官方的基金经理来说，为他们的公司创建一个定制的剧本可能是值得的. While it requires commitment and there are many considerations, the potential impact cannot be underestimated.

“GPs who can articulate ESG best practices and show how they are walking the walk, 这意味着将其嵌入公司的核心业务活动中，包括企业文化, 是否会被视为行业中有影响力的领导者，对机构投资者更具吸引力,DeCandido说, who is also financial services senior analyst at the firm.

Develop an ESG strategy with end goals in mind

萨尔皮特杰克, a supervisor in RSMvwin德赢娱乐’s 环境、社会和治理咨询 services practice, says the first question private equity groups must address is, “我们为什么要这样做? A firm’s ESG initiative should reflect the end goal, whether the focus is compliance-driven strategy transformation, aimed at attracting top talent to the firm, or keeping in step with relevant industry best practices around ESG.” 

私募股权基金的ESG考量

Each fund will have its mix of ESG issues, ranging from employee matters to responsible investing practices and more. Here are common areas of focus for PE managers:

• 员工灵活性需求
  • Enhanced flexibility support and launched flexibility coaching
  • Expanded eligibility for self-managed time off
  • 灵活的夏季转换
• 职业发展
  • 促销活动
  • Continuing professional development and education reimbursement
• Remote or flexible work environment
  • 健康认证，回到办公室政策和个人防护用品，以确保安全和健康的工作环境
  • 技术 and innovation to enable remote work
  • 办公室旅馆式办公
• 识别
  • 感恩餐盒
• 金融安全
  • 奖金
  • 推广基地
  • Retirement plan and/or profit matching
• 身体健康
  • 保费假期
  • 远程医疗服务
  • Gym membership and/or fitness stipend
  • Employer-paid health benefits and/or waived out-of-pocket costs for COVID-19 testing
  • 健康的饮食习惯
• 精神健康
  • Counseling, coaching, meditation and mindfulness resources
• 家庭支持
  • 后备儿童和老人照顾
  • Virtual learning and tutoring resources
  • 托儿服务
  • 护士站在办公室
• 劳动力
  • Diversity, equity, and inclusion policies and programs
  • 商业道德
• 数据安全
  • 安全印刷
  • 数码档案政策
• 环境
  • 基本旅行政策
  • Mass transit and parking reimbursements 
  • Reusable bottles and cups in the office
  • 办公室堆肥
  • Motion-detected electric and water usage in the office
• 投资
  • 负责任的投资政策
  • 系统性风险管理

Knowing what drives key stakeholders is a good first step. 基金经理可以利用利益相关者映射等工具来识别内部和外部群体及其影响力水平. 创建一个可视化的表示可以更容易地制定一个全面的沟通计划，目的是让每个人都保持一致.

“无论关键驱动因素是什么, they will play a vital role in helping determine the outcome of the fund’s ESG journey,萨尔彼得补充道。. 

每只基金都有自己的ESG问题组合，但私募基金经理共同关注的一个领域是提供有效的员工福利. A holistic well-being strategy should take into account physical, mental and financial health to help employees achieve work-life balance, the meaning of which is constantly evolving.

例如, 可持续生活的趋势提高了雇主提供更环保办公环境的期望. Greater emphasis on workplace fairness has given rise to diversity, equity and inclusion policies and programs. And for a growing majority of professionals, 工作本身需要目的, which underscores the value of establishing responsible investment practices, 透明度和公平性.

As fund managers start to consider ESG opportunities, they should try to connect them to current priorities. Chances are the firm is already doing some of these things, 如果这些努力得到加强，并作为基金的ESG故事的一部分向利益相关者推广，哪些可以迅速取得胜利.  

Build an ESG framework that is personal to your organization

There is no one-size-fits-all ESG reporting framework. 在理想的情况下, 公司选择的框架应该使组织能够实现与其公司价值观一致的战略业务目标. Fund managers should not be overly concerned with checking the box for every ESG element, 因为更重要的是关注对利益相关者最相关和最有意义的因素，以及推动最大绩效和社会成果的因素.

参考现有的报告框架作为起点，然后据此发展公司的ESG战略，可能会有所帮助. 例如, 可持续会计准则委员会(SASB)为投资者提供独特的指导. SASB standards are industry-specific and metric-driven, and focused on financial materiality, 是什么让它们在将ESG考虑因素整合到企业的投资和管理决策中具有价值. 

Encourage ESG engagement to ensure program alignment

As the connection between investing and value creation becomes more accepted, 私募股权行业将继续加大力度，将ESG整合到两家公司及其投资组合公司的核心业务活动中. 

“我们从私募股权客户那里听说，公司内部建立ESG项目的努力，在一定程度上是由千禧一代员工推动的，因为他们这一代人的心态更注重社会和环境意识,萨尔彼得说。.

他建议基金经理采取自下而上的方法，收集有关ESG优先事项的观点. 更好的是, 组建一个由跨职能团队成员组成的工作组，以识别和评估风险和机会, with a focus on long-term value creation. 在整个公司拥有平等的代表权将有助于项目协调，并推动更成功的ESG成果. 

Measure ESG performance to determine success

“‘不衡量就无法管理’这句谚语当然适用于ESG项目管理. What makes it particularly challenging is there are no uniform reporting requirements, so it’s imperative to benchmark within the company, 在它的同侪群体中, and within the industry it operates in,DeCandido说. 

Of course, outcomes don’t matter if they aren’t communicated to stakeholders. 基金经理应该利用品牌的力量，将自己与竞争对手区分开来, 从ESG报告开始. Best practices include building a strong mission statement, setting metrics to show what matters to your firm and sharing successes. 

“The importance of telling your ESG story cannot be overemphasized, 有许多不同的工具和声音可以用来帮助传播这个词, 包括你自己的员工,萨尔彼得说。. “It’s extremely valuable when GPs promote stories through press releases, 投资者的沟通, their websites or within an ESG report. 让他们与他们的社区进行社交，可以让信息变得真实和有力.”

由PitchBook出版 可持续投资调查.