Eurazeo ramps up ESG efforts with O+ launch

ESG

Eurazeo has launched O+, an ESG initiative which the company says will promote the drive towards low carbon and a more inclusive economy, in line with the UN Sustainable Development Goals.

O+ has two main pillars: achieving zero net carbon by 2040 at the latest and playing a role in bridging the widening social gaps.

The aim is to accelerate the transition to a low carbon economy and committing to zero net carbon across the group by 2040, in alignment with the UN’s Science Based Targets initiative.

“As CEO of an investment firm supporting more than 430 companies, I see the benefits our ESG expertise brings to our stakeholders every day,” Virginie Morgon, CEO of Eurazeo, commented on the firm’s launch of the new climate and inclusion focused ESG strategy.

“As the challenges presented by the climate crisis increase in severity, we believe it is imperative that we do our part and strive to be as sustainable as possible,” she added.

Eurazeo will focus on reducing carbon risk and exposure to carbon costs; integrate carbon measurement into the investment cycle; and invest in the low carbon economy.

The investment group will also promote gender equality, access to social protection and equal opportunities. One way in which Eurazeo plans to do this is by ensuring that at least 40 percent of board members of its portfolio companies are women.

According to Sophie Flak, CSR and digital director of Eurazeo, we need to rethink how society operates, as climate change and social inclusion are 'the most critical challenges of our time'. 

“Today, we are facing a society shift. Given the increasing effects of climate change, conflicts over resources are set to escalate, as well as social and geopolitical crises,” said Flak.

She continued: “It is the very condition of our continued performance and resilience. As investors, it is our responsibility to select the companies that will be able to adapt and thrive in this new economic and social context, and it is also our duty to support them through this transition. 

Eurazeo is also intending to support 'equality of opportunity' by creating a fund to support education and child welfare nonprofits. The fund will be launched with an initial capital of EUR3 million.

"In our line of business, we can have an exponential effect to bring about positive change. And we are determined to do so,” Flak concluded.