Blackstone has expanded its ESG team with five newly created senior positions across the US, Europe and Asia.
The company has added five new managing directors, as it endeavours to build out its ESG resources and capabilities.
In Australia, Nina James, general manager of responsible investment and corporate sustainability for InvestaProperty Group, has become head of real estate ESG, Asia at Blackstone, as well as head of ESG, Asia Pacific.
She will partner with the global head of real estate ESG, Eric Duchon, in building out its Asia-based capabilities in its asset management team.
Ms James also sits on the UN PRI (Principles for Responsible Investing) Australian advisory committee.
In the US, Elizabeth Lewis, International Finance Corporation senior engagement officer for climate and impact investing, has been elected managing director of ESG (corporate).
She will handle the implementation of ESG policies across Blackstone’s business.
James Mandel, managing director of Global Carbon-Free Buildings Program for Rocky Mountain Institute, has become Blackstone’s managing director of sustainability.
He will support the work of Don Anderson, Blackstone chief sustainability officer, in leading the firm’s carbon emissions reduction program.
Meanwhile, Rita Mangalick, managing director and head of ESG for hedge fund solutions at Blackstone Alternative Asset Management (BAAM), has been promoted to global head of ESG for the alternative arm and Blackstone Credit.
Before she joined Blackstone in 2013, Ms Mangalick was a director at UBS Asset Management.
In Europe, Caroline Hill has also become regional head of real estate ESG. Similar to Ms James in Australia, Ms Hill will also work with Blackstone global head of ESG, Eric Duchon, in building out its ESG capabilities across Europe in real estate asset management.
She was previously head of responsible business for Lloyds Banking Group.
Jon Gray, Blackstone president and chief operating officer commented ESG is “central” to delivering strong returns.
“Blackstone is using its scale and expertise to help strengthen our companies, assets and the communities in which they operate,” Mr Gray said.
Last year, Blackstone committed to reducing carbon emissions by 15 per cent across all new investments globally, where it controls energy usage, within the first three years of ownership.
It also rolled out two new diversity initiatives in the US and Europe, with a new hiring program aiming for a target of at least one-third diverse representation on portfolio company boards.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].