Blackstone Group

Blackstone Group assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body.

The financial institution monitors its scope 1-2 emissions.

While Blackstone Group has a material assessment which identifies sustainability impacts, further detail on the process and criteria for prioritisation is needed. Recommendations include disclosing third-party assurance of target reporting and linking senior executive remuneration to sustainability targets. The ESG stewardship process integrates portfolio companies, but alignment with the Blackstone Group’s sustainability strategy is unclear, and specific sustainability topics are not detailed. Blackstone has the potential to invest $100 billion in energy transition and climate solutions over the next decade, but this is not a formal commitment and does not align with international frameworks. The assessed entity does not disclose scope 3 category 15 financed emissions and could expand its monitoring of scope 3 emissions. Recommendations also include establishing a transition plan, disclosing emissions reductions in line with interim targets, providing a breakdown of clients by income group, and ensuring risk assessments consider ILO fundamental rights and social risks related to the net zero transition. An example of actions taken regarding salient human rights issues in the last three years is also recommended.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.