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FMO’s Walter van Helvoirt contributed to the development of the Principles for Responsible Investing’s (PRI) guidance on how to incorporate Environmental, Social and Governance Criteria (ESG) in legal documentation for Private Equity Funds.
This advice is significant as it represents the next step in making responsible investment the norm for private equity. PRI’s signatories now represent 67 trillion USD of capital, so their guidance potentially has great impact.
PRI writes, “ With this, the PRI private equity programme delivers the second in a trilogy of tools designed to support Limited Partners (LPs) and General Partners (GPs) throughout manager selection, appointment and monitoring. Our intention is to drive a more systematic and accountable approach towards responsible investment in private equity….The influence this is having on the private equity industry is transformative. In this guidance, we note that the incorporation of responsible investment requirements into private equity fund terms is not yet standard practice.“
Picture: THe PRI working group