Cinven appoints external adviser for carbon footprint review -Breaking
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© Reuters. Emma-Victoria Farr
(Reuters) – European private equity company Cinven announced Thursday that it has appointed an outside adviser to conduct a review of Cinven’s carbon footprint and its portfolio emissions in order to achieve a net zero goal by 2022.
This London-based buyout firm has been collecting data on greenhouse gases emissions at its portfolio companies every quarter since 2015. Allegra Day has been appointed as the ESG director.
Stuart McAlpine, Cinven’s managing director, stated that “climate change has a significant impact on all parties – financial institutions included.”
He said, “The transition from a net-zero economy offers opportunities for businesses adapting and mitigating the impacts of climate change.”
Cinven didn’t disclose any details about the new adviser.
Cinven asked an expert outside to conduct an assessment of all its financial disclosures related to climate change in 2019.
The company’s goal is to detect potential climate-related risk that may affect financial performance.
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