08 November 2021

Astorg commits to SBTi approved Greenhouse Gas (GHG) emission reductions targets

Astorg is proud to announce that it has received approval and validation by the Science Based Targets Initiative (SBTi) for its GHG emission reduction targets. As an active member of the Expert Advisory Group developing guidance for the PE sector, and as one of the very first adopter of the Science Based Targets, the firm asserts its leadership position on climate change action.

Press Release

Previous Next

Astorg has committed to:

  • Reduce its direct emissions by 50% with a baseline year of 2020
  • Ensure that 30% of its PE investments by invested capital will have set science-based targets by 2025 and 100% by 2030
Astorg’s focus on sustainability is deeply rooted in the firm’s culture, and Astorg acted as a pioneer by implementing the yearly carbon assessment of all its portfolio companies for scope 1, 2 and 3 as early as in 2018.

The Science Based Targets will become part of Astorg’s ESG programme and ownership strategy and will form integral part of portfolio companies value creation strategies.

Astorg’s CEO and Managing Partner Thierry Timsit commented: “We strongly endorse this collaborative initiative by iCi and SBTi as we believe simple, measurable and standardized objectives will go a long way towards managing change. We are delighted to be amongst the first private equity firms to set Science Based Targets for their investments. This reflects our ambition to lead on climate action and is fully consistent with the actions we have already undertaken to support our portfolio companies in our collective journey towards net-zero. »

As member of the Initiative Climate International, Astorg has participated to the Expert Advisory Group set by SBTi to develop SBTi Private Equity guidance and encourages more Private Equity firms to set emissions reduction targets across their operations and portfolios aligned with the Paris Agreement.

Astorg

Astorg is a global private equity firm with over €13 billion of assets under management. We work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body. Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.

For more information about Astorg: www.astorg.com. Follow Astorg on LinkedIn.

Science Based Targets Initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. www.sciencebasedtargets.org @sciencetargets

Latest news

More news