Blackstone Inc said on Friday it has launched a platform to invest in and lend to renewable energy companies, as the world’s biggest alternative asset manager seeks to ramp up its sustainability credentials.
The “Sustainable Resources Platform” will be a part of Blackstone Credit, the private equity giant’s credit investment arm.
The platform will focus on investments in a range of sectors, including renewable electricity generation and storage and decarbonized transportation, the company said.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Robert Horn, who leads Blackstone Credit’s renewable and sustainable investments, is leading the new platform.
Investors and lawmakers across the globe have been increasingly questioning companies about their environmental and social impact, and calls for major global businesses to make significant investments in the ESG (environmental, social and governance) initiatives have been vociferous.
Major institutions like Blackstone have pushed for companies to strengthen their commitment to the environment. Last year, the company had asked executives in its portfolio companies to report on their ESG matters to their boards for the first time, Reuters reported in May.
Asset manager BlackRock Inc has also warmed up to ESG investing, and has committed to engaging with companies on the transition to a low-carbon economy.
Source: Reuters
Can’t stop reading? Read more
KKR and Apollo drive $6.4bn surge in private equity investment into Asian schools
KKR and Apollo drive $6.4bn surge in private equity investment into Asian schools Private equity...
Goldman buys into T Rowe Price with $1bn stake as retail private equity opens up
Goldman buys into T Rowe Price with $1bn stake as retail private equity opens up Goldman Sachs has...
Permira invests in RightShip to accelerate digital transformation in maritime safety
1789 Capital seeks $1bn for South Florida real estate push with Trump Jr. on board 1789 Capital is...