BlackPeak Capital Releases its Annual ESG Report for 2023

BlackPeak Capital Releases its Annual ESG Report for 2023
20 may 2024
BlackPeak Capital releases its Environmental, Social, and Governance (ESG) report for 2023.

BlackPeak Capital aims to minimize its environmental impact while operating according to the highest social, ethical, and governance standards. We are also encouraging our portfolio companies to do the same and supporting them in measuring and reducing their carbon footprint.

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Well structured investment process 


As an asset manager, we acknowledge that our biggest impact on the environment and society comes from our investments. This is why we have developed a well-structured investment process, including an extensive ESG exclusion list (combining the ones of EIF, IFC and EBRD) and ESG due diligence process prior to each investment.


After an investment is made, we closely collaborate with Portfolio companies, providing ESG onboarding tailored to their specific industry. This includes ESG training sessions, guidance on policy development, implementing Environmental and Social Management Systems (ESMS), setting goals, and jointly developing roadmaps for improvement.


Portfolio ESG Performance


In the last section of this report, you will find an overview of the ESG performance of all portfolio companies of BlackPeak Southeast Europe Growth Equity Fund to date.


This report also outlines BlackPeak Capital’s overall approach to managing ESG factors, including our ESMS, ESG policy and responsibilities, Corporate Governance, Diversity, Equity, and Inclusivity (DEI) policy; our approach to climate change and GHG emissions, and how each of these is implemented in our investment process.


GHG emissions 

In 2023 we have collaborated with the specialized Wind of Change consultancy to measure our GHG emissions through the Bilan Carbone® Methodology and reported them in accordance with the GHG Protocol. According to GHG Protocol the total GHG emissions of Black Peak Advisors AD and BlackPeak Southeast Europe Growth Equity Fund for 2022, amounted 182 t CO2 eq., distributed across Scopes 1, 2, and 3 as illustrated below.




BlackPeak Advisors AD's absolute GHG emissions amounted to 85 t CO2 eq. The emissions of BlackPeak Southeast Europe Growth Equity Fund amounted 97 t CO2 eq.

Looking at intensity perspective for 2022 BlackPeak Advisors AD has ≈7.7 t CO2 eq. carbon Intensity per employee. BlackPeak Southeast Europe Growth Equity Fund has a weighted-average carbon intensity of ≈12.3 CO2 eq/m EUR revenue.


We have built a reduction roadmap with specific actions aligned with IFCs performance standards, and we are currently working to measure our GHG emissions for 2023. Once these figures are available, we will study them and set relevant science-based goals for emission reduction.

Noteworthy environmental practices 

We have already implemented numerous steps such as relocating our headquarters to an energy efficient LEED Platinum v4 building, powered by 100% renewable energy. We have implemented water filtration and recycling systems, monitoring our waste, energy and water usage, employee commute, business travel and events emissions.

While we have set a strong foundation, we need a continued effort as we acknowledge there is still significant ground to cover.

We invite you to explore our ESG report to learn more about our journey.


BlackPeak Capital Anuual ESG Report 2023

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