Stonepeak Joins the Net Zero Asset Managers Initiative
NEW YORK, NY – November 1, 2021 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has joined the Net Zero Asset Managers initiative, a consortium of 128 asset managers with a combined $43 trillion in assets under management, who are committed to reaching net zero greenhouse gas emissions by 2050 or sooner.
As part of the initiative, Stonepeak has committed to:
- Work in partnership with its clients on decarbonization goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management.
- Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner.
- Create investment products aligned with net zero emissions by 2050 or sooner and facilitate increased investment in climate solutions.
Stonepeak CEO and Co-Founder Michael Dorrell said, “We are pleased to see the investment industry’s increasing focus on effecting social and environmental change and are proud to join this roster of fellow asset managers who share our commitment to investing in alignment with positive climate action and the transition to a lower-carbon economy. Stonepeak has been deeply focused on expanding and refining our approach to ESG, from measurement, policies and reporting to also identifying investments in renewable energy and energy transition infrastructure assets consistent with our core principle of long-term responsible investing. Setting net zero targets is the natural next step in our firm’s support of a low-carbon future, and we’re looking forward to the work that lies ahead.”
Stonepeak Head of ESG Ben Harper added, “As a leader in infrastructure and real assets investing, Stonepeak is well-positioned to implement policies and practices that can have an outsized impact on reducing greenhouse gas emissions. We are excited to join the Net Zero Asset Managers initiative as we continue to execute meaningful environmental sustainability initiatives across our portfolio.”
ESG considerations have long been fundamental to Stonepeak’s investment and asset management practices, and the firm has committed to rigorously and transparently incorporating responsible investment and asset stewardship into every facet of its operations. The firm is well-positioned to meet the commitments outlined in the Net Zero Asset Managers initiative, recognizing that this milestone represents only the beginning of the work ahead to achieve these goals. Stonepeak recently appointed Ben Harper as Head of ESG, where he partners closely with the senior leadership team, investment team and portfolio company management to expand the firm’s commitment to responsible investing. In July 2021, the firm announced the final close of Stonepeak Global Renewables Fund, a US$2.75 billion fund focused on investing in a diversified portfolio of renewable energy assets in developed markets around the world.
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $39 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, power and renewable energy, transport and logistics, and water. Stonepeak is headquartered in New York with offices in Houston, Austin and Hong Kong. For more information, please visit www.stonepeakpartners.com.