The HRM Pension Plan Joins EDCI
The HRM Pension Plan is pleased to announce that it is now a member of the ESG Data Convergence Initiative (“EDCI”). The EDCI is an open partnership of private equity stakeholders committed to streamlining the private investment industry’s historically fragmented approach to collecting and reporting Environmental, Social & Governance (“ESG”) data. The mission of the organization is to create a critical mass of meaningful, performance-based, and comparable ESG data from private companies. To create this convergence, the Initiative’s participating firms agree to report on a core set of ESG metrics drawn from existing frameworks. The categories include greenhouse gas emissions, renewable energy, board and C-suite diversity, work-related accidents, net new hires, and employee engagement. General Partners (“GPs”) track the agreed-upon metrics for their portfolio companies and report them in a standardized format. The data are shared directly with invested Limited Partners (“LPs”), and aggregated into an anonymized benchmark by Boston Consulting Group. The EDCI’s members currently include 350+ GPs and LPs representing ~$28 trillion in assets under management, including a number of prominent Canadian pension funds.