Blackstone is expanding its environmental, social and governance (ESG) team, with five newly created senior positions across the United States, Europe and Asia. The firm is adding new resources and capabilities within its business units and building out a corporate ESG structure as part of its commitment to deepen ESG integration across its investment process and asset management.
The team will continue to advance the firm’s decade-long focus on ESG. With majority stakes in more than 200 companies and over 8,500 real estate assets, Blackstone says it can create value by driving meaningful change for nearly half a million employees and countless communities.
Last year, the firm announced a goal to reduce carbon emissions by 15% across all new investments globally where we control energy usage within the first three years of ownership. It is also pursuing two diversity initiatives starting in the US and Europe – a target of at least one-third diverse representation on portfolio company boards for new control investments plus a programme to support creating diverse hiring and career mobility.
The new team members include five managing directors:
Elizabeth Lewis, managing director of ESG (corporate), will handle implementation of ESG policies across Blackstone’s businesses.
James Mandel, Ph.D., managing director of sustainability (portfolio operations), will support the work of Don Anderson, Blackstone’s chief sustainability officer, in leading the firm’s carbon emissions reduction programme.
Nina James, head of real estate ESG (real estate, Asia), will partner with the global head of real estate ESG, Eric Duchon, in building out the Asia-based capabilities in the firm’s asset management team.
Caroline Hill, head of real estate ESG (real estate, Europe), will similarly partner with the global head of real estate ESG, Eric Duchon, in building out the firm’s ESG capabilities across Europe in real estate asset management.
Rita Mangalick, global head of ESG for Blackstone Alternative Asset Management (BAAM) and Blackstone Credit, will partner with both groups to lead ESG diligence, policy development, reporting and engagement.
Blackstone president and chief operating officer Jon Gray says: “We view ESG as central to our mission of delivering strong returns for clients. Blackstone is using its scale and expertise to help strengthen our companies, assets and the communities in which they operate. We are thrilled to have Elizabeth, James, Nina, Caroline and Rita joining our global ESG team. They each bring a wide spectrum of domain expertise as we continue to drive value for our investors and create impact across our portfolio.”