Cinven appoints external advisor for carbon footprint review

Nov. 11 (Reuters) – European private equity firm Cinven said on Thursday it had commissioned an outside advisor to undertake a review of the carbon footprint of its operations and of its portfolio emissions as part of efforts to set a target of net zero 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 the new ESG director.

“The impact of climate change demands that all stakeholders – including financial institutions – take action,” said Stuart McAlpine, Managing Partner of Cinven.

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“The transition to a net zero economy also presents opportunities to invest in businesses that mitigate and adapt 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 information.

Its objective is to identify potential climate-related risks that could affect the financial performance of the companies in its portfolio.

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Reporting by Emma-Victoria Farr; edited by Pamela Barbaglia and Barbara Lewis

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Shirlene J. Manley