StepStone Publishes ESG and TCFD Reports
StepStone Group Inc., a global private markets investment firm, released its annual Environmental, Social & Governance (“ESG”), Taskforce on Climate-Related Financial Disclosures (“TCFD”), and Diversity, Equity & Inclusion (“DEI”) reports.
“Our ESG report, Taking the Long View, addresses our corporate ESG strategy and commitment to responsible investment practices across all asset classes, including private equity, infrastructure, private debt and real estate, and investment strategies including primary funds, secondaries and co-investments,” said Suzanne Tavill, Partner and Head of Responsible Investment at StepStone. “Our ESG and TCFD reports represent another step forward as we maintain engagement with our stakeholders and benchmark our progress.”
The ESG report contains within it StepStone’s DEI report addressing the firm’s DEI programs and progress. The firm’s TCFD report details the company’s climate-related initiatives and proactive steps toward improving climate-related performance.
Highlights of the reports include:
- Climate Commitment: StepStone is a carbon neutral company and is committed to maintaining its carbon neutral status.
- DEI Initiatives and Progress: StepStone is proud of the progress it made in 2021, with 37% of new hires being women, and 34% being ethnically or racially diverse. As of January 2022, female partners made up 19% of the partnership, an increase of 58% from 2019. Similarly, 15% of all partners were racially or ethnically diverse, growing 67% over this same period.
- Responsible Investment: ESG due diligence is integrated into all our investment processes. As a signatory of the United Nations Principles for Responsible Investment, a supporter of the Task Force for Climate-Related Financial Disclosures, and a member of the Sustainability Accounting Standards Board Alliance, StepStone seeks to align its processes with these responsible investing frameworks. Further, StepStone has over $12 billion in allocations across its platform categorized as impact and thematic investments, with an additional $22 billion committed to diverse private equity managers.
“ESG, DEI and climate-related initiatives are playing an increasingly important role in decision making among private markets participants,” said Scott Hart, Partner and CEO at StepStone. “As we have done throughout our history, StepStone will seek to be best-in-class in these areas. These reports serve as both a testament to what we have already achieved and a baseline from which to work as we look forward.”
See related article: Flex LNG – 2021 Annual ESG Report
Source: StepStone Group Inc.