BVCA recognises leading firms across private capital for Excellence in ESG
Equistone Partners, Freshstream, the Pension Protection Fund, Oxford Science Enterprises and Reconomy have all been recognised by the British Private Equity and Venture Capital Association (BVCA) for their outstanding contribution to ESG.
The importance of ESG and Responsible Investment has never been more relevant for the private equity and venture capital industry. The ‘Excellence in ESG’ awards celebrate the firms who are spearheading outstanding ESG initiatives across the industry.
The Awards, which are now in their fifth year were announced during the BVCA’s Annual Summit Main Conference brought together leaders from across the spectrum of the private capital industry.
This year’s judging panel Eimear Palmer of Pantheon, Denise Odaro of PAI Partners and Henry Philipson of Beringea were impressed by a range of exceptional and proactive ESG measures taken by this year’s award recipients.
Equistone Partners was praised for its strengthened ESG framework, integrating dedicated ESG specialists into decision-making processes and adopting robust data-driven strategies. Judges highlighted Equistone’s active involvement in industry initiatives such as PRI, iCI, and EDCI, and commended its hands-on ESG integration in investments like Sport Group, where sustainability has become central to value creation.
Freshstream Investment Partners impressed the judges with its proactive ESG efforts, embedding ESG due diligence pre-deal and enhancing incident management across investment operations. The firm’s work with portfolio companies, including Euro-Caps, was highlighted, where ESG initiatives such as transitioning to recyclable aluminium capsules and achieving BCorp certification transformed the business. Freshstream’s focus on carbon reduction and cyber security further showcased its commitment to ESG-driven value creation.
The Pension Protection Fund (PPF) was recognised for its comprehensive Sustainability Strategy, driven by strong leadership from the Board and Executive Committee. In 2023, PPF introduced a new responsible investment strategy, which judges identified as a key development. PPF’s longstanding support for the UK Stewardship Code and TCFD demonstrated its leadership within the pension industry.
Oxford Sciences Enterprises (OSE) stood out for its holistic ESG approach, integrating sustainability into early-stage due diligence and delivering 16 ESG workshops throughout 2023. OSE’s collaboration with limited partners and involvement in initiatives like ESG_VC and VentureESG were commended, as was the firm’s internal focus on sustainable procurement, emissions measurement, and mental health support.
Reconomy was rewarded for its leadership in the circular economy, launching a ‘circularity scorecard’ that outperformed industry benchmarks in 2023. Handling 2.5 million tonnes of resources and diverting 98.5% of waste from landfills, Reconomy has significantly reduced its carbon intensity. The judges noted the company’s inclusive programs and active community engagement, alongside the partnership with EMK, as driving forces behind its impactful sustainability initiatives.
Commenting on the ‘Excellence in ESG’ awards, BVCA Chief Executive Michael Moore said:
“These awards recognise the outstanding contributions to ESG across private equity and venture capital, showcasing the leadership and innovation that define our industry’s commitment to responsible investment.
“At a time when ESG is more critical than ever, the ‘Excellence in ESG’ awards celebrate those firms setting new benchmarks that drive meaningful change. We were proud to honour these trailblazers at Summit 2024 and spotlight the effects they are having.”
A spokesperson for Equistone Partners said:
“On behalf of the Equistone ESG team, we are delighted to receive the Excellence in ESG award, which highlights our commitment to and progress over the last 2 years in integrating ESG risk and opportunity management into our operations and across our portfolio. We look forward to continuing to engage with industry initiatives and foster sustainability-led value creation in all our investments.”
A spokesperson for Freshstream Investment Partners said:
“We are delighted to be recognised by the BVCA as the leading GP in the below £1bn AUM category at this year’s Excellence in ESG Awards. ESG principles have been embedded in Freshstream’s culture since inception and we look forward to continuing to work hard on improving ESG standards within the firm alongside the portfolio companies we partner with.”
A spokesperson for the Pension Protection Fund said:
“We’re delighted to be recognised with the Excellence in ESG award by the BVCA. This highlights our unwavering commitment to a robust sustainability strategy and responsible investment approach. We take pride in our active role in a range of industry initiatives across both public markets and as an LP in private markets.”
A spokesperson for Oxford Sciences Enterprises said:
“We are honoured to be selected as the Top Recognised VC at the BVCA’s Excellence in ESG Awards. This recognition reflects the shared dedication of our team, portfolio, and the wider industry to elevate the VC industry’s commitment to ESG. As we continue our sustainability journey, we're committed to empowering the next generation of transformational companies to integrate ESG into their businesses from day one.”
A spokesperson for EMK Capital (backers of Reconomy) said:
“Reconomy is pushing the boundaries on existing industry standards with its multidimensional circularity scorecard measuring environmental impact categories across its value chain. We are very pleased that the BVCA have, once again, recognised Reconomy for its continued excellence in operational sustainability as well as its contribution in supporting its customers towards zero waste and net zero. We look forward to continuing to support the company as it goes from strength to strength and expands further across Europe, North America and Asia.”
Media contacts
James Gribben, BVCA: [email protected]
Note to Editors
About the British Private Equity & Venture Capital Association
The BVCA, as the representative body for private equity and venture capital, connects institutional investors, fund managers, companies, advisers and service providers together, with our membership currently comprising more than 600 businesses from across the private capital ecosystem. This includes more than 250 PE and VC firms, 100 institutional investors and 200 professional services firms.
Private capital drives growth – providing the funding, expertise and long-term view that enables companies to innovate and flourish. Our mission is to advocate the transformative nature of the private equity and venture capital community.
