11 December 2023
The Bavarian Supply Chamber (BVK) is consistently pursuing its sustainability path and has become the first pension provider in Germany to join the ESG Data Convergence Initiative (EDCI) to promote industry-wide collaboration on standardized ESG metrics in the private equity sector.
The industry-led initiative, launched in 2021, aims to generate meaningful and comparable ESG (environmental, social and governance) data for the private equity industry. It brings together investors and managers from the private investment industry to standardize performance metrics, set common standards and deliver valid benchmarks. The EDCI currently has over 350 members worldwide, whose assets under management total over 28 trillion US dollars.
“We joined EDCI to provide a foundation for analyzing our portfolio in terms of ESG data in the private equity space. It is crucial that through this initiative investors and managers pull together and jointly commit to ESG aspects in order to achieve a uniform standard in reporting. By pooling the strengths of the over 350 EDCI members, the topic of ESG metrics in the alternative asset classes can be promoted sustainably,” emphasizes Kathrin Kalau-Reus, Head of Private Equity, Infrastructure and Timber at BVK.
BVK has been investing in the private equity asset class since 2007. Here, the portfolio focuses on the established markets in North America and Europe in terms of regional distribution; the Asian portion of the portfolio has now also been expanded. BVK underwrites single funds in Europe, the USA and Asia in the large/mega market and works with fund-of-funds partners in the small and mid-market areas. The current market value of BVK’s private equity portfolio is approximately 12 billion euros.
With its membership in the EDCI, the BVK is consistently continuing its sustainability path. Important milestones include joining the Net-Zero Asset Owner Alliance (NZAOA), membership in the Global Real Estate Sustainability Benchmark (GRESB) and signing the United Nations Principles for Responsible Investment (PRI).Source: Bayerische Versorgungskammer
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