Enterprise software-focused private equity investor Vista Equity Partners announced today the launch of the Vista Climate Pledge, a new initiative under which all of the majority-owned companies in its $93 billion portfolio have agreed to measure and set reduction targets for greenhouse gas (GHG) emissions this year, and to reduce and offset emissions annually.
The new initiative follows a program launched last year by Vista to have all of its private equity portfolio companies measure their 2019 emissions, which included providing the companies with access to a GHG measurement platform and toolkit, and embedding an emissions calculations automation tool in its Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More reporting and project management software platform for portfolio companies. Vista also joined the Net Zero Asset Managers initiative last year, committing to achieve net zero across its portfolio by 2050.
David Breach, President and Chief Operating Officer at Vista, said:
“At Vista, we regard Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More opportunities as a path for innovation and value creation. Last year, we embarked on a journey to achieve net zero across our firm and portfolio companies, helping them to future-proof their climate resilience strategies and align our majority-owned investments to net zero goals.”
Under the new climate pledge, Vista’s majority-owned companies have agreed to measure 2020 and 2021 emissions by July, set a GHG reduction target by the end of this year, reduce emissions annually, and to offset their 2021 emissions.
Robert F. Smith, Founder, Chairman and Chief Executive Officer at Vista, said
“The size and reach of Vista’s portfolio give us the unique opportunity to contribute to climate goals in a meaningful way, and with the Vista Climate Pledge, we are establishing an industry standard, utilizing the power of technology to create lasting impact. As climate-related issues continue to grow in prevalence and importance for both business leaders and investors, Vista is committed to providing its portfolio companies with resources and support to increase their positive impact and create value for all stakeholders.”
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