IK has its emissions reduction targets validated by the SBTi

IK Partners, the European private equity firm, has had its greenhouse gas emissions reductions targets validated by the Science Based Targets initiative, the firm said on Tuesday.

In doing so, the firm joins a relatively small group of private equity firms. EQT was the first private markets firms to receive approval in October last year, followed by a group of six other European firms in November. At this point five others committed to do the same within the following two years.

SBTi is an organisation that approves companies’ decarbonisation pathways and validates net-zero targets in line with the 2015 Paris Agreement. It released specific guidance for private equity last year, which includes setting decarbonisation targets for private equity firms’ control investments.

Sixty-five percent of European LPs are likely to ask their GPs to use science-based targets to measure their environmental impact within “the next few years”, according to an LP survey by private equity firm Coller Capital. Forty-five percent of LPs based in Asia-Pacific and 23 percent of North American LPs are likely to do so, Coller’s Global Private Equity Barometer shows.