Staying ahead of the ESG curve

Despite having worked in Environmental Consultancy for several years, I have often been amazed during my brief time at the BVCA, how the sector has come together to drive forward what ESG means for private capital. I have seen how the industry is collaborating and knowledge sharing, helping to shape the ESG landscape and advancing what best practice needs to look like.
This proactivity is enabling the sector to keep pushing the dial and advance their ESG agendas. And ultimately ensure that when we mention those three letters ‘E’ S’ and G’ it carries a positive message and is not seen as a ‘painful data collection, reporting and tick box exercise’ to steal the words of one of one of our speakers (Maria Carradice, Mayfair Equity Partners) from our recent ESG conference.
It was an absolute pleasure to host this in person, full day ESG dedicated event at the end of May and hear industry leaders discuss how private capital is navigating the constantly evolving ESG landscape and recognise the value creation opportunities it can deliver.
Given the breath of the subject matter which falls under ESG, panel discussions spanned across a variety of subjects covering all three elements of ‘E’ (Net Zero/biodiversity),’S’ (diversity, equity & inclusion) and ‘G’ (sustainability regulation). All discussions included a forward-looking aspect on how to remain ahead of the ESG curve. With many panellists, touching upon the importance of establishing what ESG means for your firm’s specific purpose and embedding it into the culture of the firm. To quote one of our speakers (Denise Odaro – PAI Partners) ‘At PAI, what this means really, is this core belief and understanding across the firm that you have to future-proof your investments and sustainability is key to that’.
Various debate was had around the ‘S’ in ESG and whether it has been neglected due to the critical focus on the planet, what this means in terms of opportunities lost and how we could collectively as a sector give it the priority it needs. It was, highlighted that we need to seek more progression on this subject matter and move beyond gender only discussions to ensure that everyone has a seat at the table and is included.
We explored emerging themes around Nature Investment opportunities for Private Capital, and the UKs government’s commitment to building this market. Panellists discussed how the emerging biodiversity credit market will fit into this space and the fact that this is more likely to take the form of a net gain market.
The event closed with a session on ‘Green Hushing’ and why ESG reporting may need to include both qualitative and quantitative data to demonstrate commitments, actions, and communications. Highlighting the industry should not be afraid to show where things are hard, or have not gone to plan, if we are transparent and explain how we plan to improve it.
Reflecting on the energetic event that enabled us to connect and focus , ESG still is a ‘journey’ (prizes for anyone that can coin a new phrase with as much meaning!) for us all, and there will always be more to be done. What is great to see is that ESG prioritisation and dialogue is now becoming industry norm, a lot has been achieved and there is a variety of best practice guidance emerging which has been developed by the industry to help us all to stay ‘ahead of the curve’!
Please contact either me, Harriet Assem Head of Sustainability, or Tom Taylor Head of Policy (Legal and Regulatory), if you want to hear any more about our Policy and Sustainability work at the BVCA.
Harriet Assem
Head of Sustainability, BVCA
Related articles:
- Reflections on the BVCA ESG Conference – ESG in VC (authored by Neave Lloyd, BVCA Policy Executive)
- Reflections on the BVCA ESG Conference – impact & ESG (authored by Neave Lloyd, BVCA Policy Executive)