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French Private Equity Industry Makes ESG Improvements

France Invest, the French private equity and venture capital association, has published its sixth annual ESG report which shows the increasing importance of ESG due diligence and diversity in private equity firms in the country. 129 firms in the industry, representing a total workforce of approximately 4,400 people, responded to the survey.

The report shows significant strides made in the industry. In 2018, French private markets firms carried out a total of 912 ESG due diligences during acquisitions, which is twice that of 2017. 88 ESG due diligences were prepared ahead of the sales process, up four-fold in one year.  The number of women in the front office teams increased by one-third in 12 months, to 475 women in these positions.

Candice Brenet, Chair of France Invest's ESG commission, says: "The acceleration in the private equity industry's commitment to sustainable development issues is a powerful signal. Our profession continues to show even greater ambition to support portfolio companies in their positive transformation, to build desirable companies in terms of respecting the environment and our society in order to guarantee a sustainable future for all. France Invest's ESG commission strives on a daily basis to put the alignment of interests at the core of the responsible investor approach, and to offer practical solutions to existing and future challenges."

The full report can be downloaded here.