This guide, published by the Initiative Climat International (iCI) in partnership with UK’s industry body for private capital, the BVCA, and KPMG, is designed to support a shift to reporting in line with the recommendations of the Taskforce on Climate-Related Financial Disclosures (TCFD), by providing practical guidance on climate disclosures in the specific context of private markets. It is designed to be applicable for all private equity (PE) firms, recognising that approaches to climate change vary across segments and firms.

Among other things, the guidance addresses some of the unique considerations for PE firms, including the unlisted and small- to medium-sized nature of the companies held, long-term fund holding periods and significant changes to portfolio composition over the holding period. It includes:

  • Practical tools and data sources that are relevant for investors in private companies;
  • Explicit recognition of where aligning with TCFD recommendations can be useful for PE firms in furthering their understanding of and managing climate-related risks and opportunities; and
  • Findings from interviews with a broad range of stakeholders across private markets firms, industry collaborations and academia.

Download the report below