Blackstone asks companies under its PE arm to regularly report on sustainability
Photo: Bloomberg
Blackstone Group Inc has for the first time asked executives in companies controlled by its private equity arm to regularly report on environmental, social and governance (ESG) matters to their boards, according to a letter seen by Reuters.
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Blackstone has placed a buy order for a 26% stake in the firm through an open offer to minority shareholders.
Blackstone had bought a 60.5% stake in Mphasis from Hewlett Packard Enterprise Co. in 2016.
Asian family businesses far outperformed their American and European peers in the self-reported incorporation of sustainability.
The VC aims to help startups develop an ESG framework from an early stage.
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