[Vancouver, Canada, 2022, May 18] UpperStage.Capital announced today that it has joined the private equity industry’s first-ever ESG Data Convergence Project (“EDCP”) to improve data disclosure and reporting standards on environmental, social, and governance “ESG” metrics for private companies. The collaboration now represents $21 trillion USD in assets under management and more than 1,500 underlying portfolio companies.
Hosted by the Institutional Limited Partners Association (ILPA), this project results from leading global General Partners (GPs) and Limited Partners (LPs) joining forces to create a standardized set of ESG metrics and a mechanism for comparative reporting. The group aims to streamline the private equity industry’s historically fragmented approach to collecting and reporting ESG data, with the goal of creating a critical mass of material, performance-based, comparable ESG data from private companies. This will allow GPs and portfolio companies to benchmark their current position and accelerate ESG progress, which is expected to drive better financial outcomes, greater transparency, and more comparable portfolio information for LPs. The data is shared directly with invested LPs, and aggregated into an anonymized benchmark by Boston Consulting Group (BCG).
The initial data covers six categories: Scope 1 and 2 greenhouse gas emissions, renewable energy, board diversity, work-related injuries, net new hires, and employee engagement.
“UpperStage investments are driven by positive impact across sustainability, wellness, and community,” observed CEO Keith Gillard. “The initial EDCP metrics align perfectly with our strategy.”
Since its inception, UpperStage has designed its ESG framework to align with the best global standards from SDGs, WEF, SASB, TCFD, and the GRI in its overall ESG scores. It recognizes the challenges of non-standardized ESG reporting and supports a more standardized approach to data collection and reporting across the private equity industry.
“UpperStage is excited to be an active participant in the EDCP,” commented UpperStage ESG Partner Kookai Chaimahawong, who developed the UpperStage ESG framework. “By increasing the quality, availability, and comparability of ESG data in private markets, we will demonstrate the value of ESG to improve investment returns.”
For more information, please visit: https://ilpa.org/ilpa_esg_roadmap/esg_data_convergence_project/
UpperStage.Capital is growth equity, for good: a buy-out and growth investor combining impact investment experience, hands-on operations, and ESG management to boost profitable businesses to their next level of success. Founded in 2021, UpperStage has team members in Vancouver, Toronto, Silicon Valley, and Shenzhen, and acquires major stakes in profitable North American companies making measurable impact across Sustainability, Wellness, and Community. www.upperstage.capital