Blackstone Inc said on Friday it has launched a platform to invest in and lend to renewable energy companies, as the world’s biggest alternative asset manager seeks to ramp up its sustainability credentials.
The “Sustainable Resources Platform” will be a part of Blackstone Credit, the private equity giant’s credit investment arm.
Major institutions like Blackstone have pushed for companies to strengthen their commitment to the environment. Last year, the company had asked executives in its portfolio companies to report on their ESG matters to their boards for the first time, Reuters reported in May.
Asset manager BlackRock Inc has also warmed up to ESG investing, and has committed to engaging with companies on the transition to a low-carbon economy.
Read more: Reuters
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