StepStone Publishes ESG and TCFD Reports
NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm, today released its annual Environmental, Social & Governance (“ESG”), Taskforce on Climate-Related Financial Disclosures (“TCFD”), and Diversity, Equity & Inclusion (“DEI”) reports.
“Our ESG report, Taking the Long View, addresses our corporate ESG strategy and commitment to responsible investment practices across all asset classes, including private equity, infrastructure, private debt and real estate, and investment strategies including primary funds, secondaries and co-investments,” said Suzanne Tavill, Partner and Head of Responsible Investment at StepStone. “Our ESG and TCFD reports represent another step forward as we maintain engagement with our stakeholders and benchmark our progress.”
The ESG report contains within it StepStone’s DEI report addressing the firm’s DEI programs and progress. The firm’s TCFD report details the company’s climate-related initiatives and proactive steps toward improving climate-related performance.
Highlights of the reports include:
- Climate Commitment: StepStone is a carbon neutral company and is committed to maintaining its carbon neutral status.
- DEI Initiatives and Progress: StepStone is proud of the progress it made in 2021, with 37% of new hires being women, and 34% being ethnically or racially diverse. As of January 2022, female partners made up 19% of the partnership, an increase of 58% from 2019. Similarly, 15% of all partners were racially or ethnically diverse, growing 67% over this same period.
- Responsible Investment: ESG due diligence is integrated into all our investment processes. As a signatory of the United Nations Principles for Responsible Investment, a supporter of the Task Force for Climate-Related Financial Disclosures, and a member of the Sustainability Accounting Standards Board Alliance, StepStone seeks to align its processes with these responsible investing frameworks. Further, StepStone has over $12 billion in allocations across its platform categorized as impact and thematic investments, with an additional $22 billion committed to diverse private equity managers.
“ESG, DEI and climate-related initiatives are playing an increasingly important role in decision making among private markets participants,” said Scott Hart, Partner and CEO at StepStone. “As we have done throughout our history, StepStone will seek to be best-in-class in these areas. These reports serve as both a testament to what we have already achieved and a baseline from which to work as we look forward.”
StepStone’s 2021 ESG report, TCFD report and DEI report are available on the Company’s Shareholder Relations website.
About StepStone
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2021, StepStone oversaw approximately $548 billion of private markets allocations, including $127 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
Contacts
Shareholder Relations:
Seth Weiss
[email protected]
1-212-351-6106
Media:
Brian Ruby / Chris Gillick, ICR
[email protected]
1-203-682-8268
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