Jessica Dinapoli
3 minute read
The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid/File Photo
Blackstone Group Inc (BX.N) has for the first time asked executives in companies controlled by its private equity arm to regularly report on environmental, social and governance (ESG) matters to their boards, according to a letter seen by Reuters.
The world s largest manager of alternative assets such as private equity and real estate has been seeking to bolster its sustainability credentials as investors increasingly question companies on their impact on the environment and workers.
Exclusive: Blackstone asks its companies to regularly report on sustainability reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
“Climate finance across debt and equity capital markets, syndicated and bilateral lending, project finance, structured products, derivatives and securities finance represents an estimated global revenue pool of more than US$25 billion annually over the next decade.”
Green financing will play an increasingly important role in global investment in the coming years, and Malaysia can play a pivotal part in this journey.
A report from Boston Consulting Group (BCG) and the Global Finance Markets Association (GFMA) titled “Climate Finance Markets and the Real Economy” describes a significant US$3 trillion (RM12.3 trillion) to US$5 trillion annual financing need and opportunity for financial institutions.
A just transition to net-zero will require a collective dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.