EQT is addressing climate change in a holistic way, across all parts of the EQT ecosystem, from integrating it into its purpose and supporting the EQT funds’ portfolio companies, to partnering with the EQT Foundation driving global philanthropic activities and investing in impact innovation.
One of the first projects the EQT Sustainability Team and Ambassadors set out to explore in 2015 was the climate impact of EQT Group’s own operations. Since then, EQT has continuously stepped up its sustainability ambitions.
EQT became one of the first private equity firms to sign up for the Science Based Targets initiative in late 2020. This initiative drives climate action by helping companies set greenhouse gas emissions reduction targets in line with the Paris Agreement.
EQT is currently establishing its baseline and assessing targets in alignment with the recently-published guidelines for financial institutions. To achieve the reduction goals, which will also cover the EQT funds’ portfolio companies, EQT is teaming up with the EQT Foundation which has climate technology as one of its key investment themes. Together, EQT is aiming to create an ecosystem around key climate challenges and share best practices to help climate technology founders scale their solutions and impact.
In addition to measuring and trying to reduce its own emissions, EQT also offset all emissions that cannot be avoided. With entrepreneurial being a core value, EQT is constantly searching for innovative carbon offset solutions.
In 2020, EQT introduced the largest ESG linked bridge facility across all private markets firms - a natural step on our transparency journey and a commitment to our integrated approach to sustainability and responsible ownership. The Bridge Facility’s interest rate varies depending on the portfolio companies performance against three ESG KPIs, ensuring that portfolio companies accelerate ESG performance and increase EQT’s societal impact.
EQT WIN is an employee resource group aiming to increase gender diversity at EQT and helping to make the organization a more inclusive place for female professionals.
To make private equity more accessible as a profession, the industry needs to target different talent pools and ensure bias free recruitment processes. EQT works closely with various schools and has increased and broadened our intern intake, which in turn builds more junior pipelines.
EQT has requested that the firm’s service providers, such as commercial, tax, legal and financial advisors, have teams consisting at least 25 percent of the underrepresented gender.
EQT wants to create an environment where our employees can pursue a long-term career with continued development while their family situation changes. We have therefore made our parental support package gender neutral and inclusive for all family set ups, globalized our parental support package and increased the support beyond financial support by providing a digital toolkits and access to a coach pre, during and post leave.
By working with leading employee engagement platform ‘Peakon’ EQT is able to connect DE&I initiatives with employee engagement, and measure and assess impact to take better and more informed actions. Ensuring our employees have multiple channels to anonymously raise their voices on DE&I related topics is imperative to raise awareness of any serious issues and increases accountability across the organization.
My Mental Wealth is an online coaching platform that helps EQT to empower all employees to better understand and look after their own mental health and care for others around them. EQT’s mental wellbeing strategy is aimed at 1) educating 2) increasing conversation and decreasing the stigma 3) encouraging preventative action.
DE&I is an ever evolving landscape and EQT wants to create a culture of continuous learning to ensure we remain cognisant of business and societal issues and injustices to ensure we are both supporting and protecting our employees in the right way.
EQT is taking steps to ensure language in both internal and external communication such as job adverts, guidelines and policies engage and include everyone.
As part of the 2021 issued bond and the revolving credit facility, EQT is setting targets to increase gender diversity in the Investment Advisory teams, both in total and over time at more senior levels. These targets are focused on gender only as EQT, for the time being, only can present verifiable statistics on this measure.
EQT recognizes that Diversity, Equity & Inclusion (DE&I) have a positive impact on both EQT’s investors, employees and society. Fostering an environment that not only respects, but also values difference is not a ‘nice to have’, it is a ‘must have’. Diversity in experiences, knowledge and perception is crucial for our decision making ability and our business success. EQT firmly believes that we, in our role as an investor, have a duty to be socially conscious and to use our platform to take affirmative action for a more equitable and meritocratic tomorrow.
Over the last couple of years, EQT has made important progress in gender equality within EQT’s Advisory teams. EQT has made gender diversity a top priority, and since the inception of EQT’s Women’s International Network (“EQT WIN”), this progress has been greatly accelerated. By mitigating long existing barriers and biases within the industry, we make EQT a more inclusive environment for women. As a result, we have seen the number of women Advisory Professionals nearly double in the last three years. Much of this progression has been a result of hiring within the Junior Advisory team, where women constitute 40 percent of the team as of 2021.
EQT’s efforts in DE&I continues to evolve and we aspire to increase all aspects of diversity at EQT, including any and all misrepresented and underrepresented groups, for the benefit of our business success.
We are committed to increasing representation at every level across our organization and within EQT’s portfolio companies. For us this means;
EQT has learnt that goals acknowledging the fluidity of diversity and intrinsic differences in the markets we operate yields far better success for us than blanket targets. EQT will continue to evaluate our culture and practices and be deliberate in the action we take to become a more inclusive employer. and help the industry to become more equitable.
Knowing there is much to learn and being early on in our DE&I journey we seek to form external partnerships and leverage support networks to aid and complement our intersectional approach. More
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