Homegrown private equity major True North on Tuesday said it is aspiring to cover a “majority” of its assets under the environmental, social, and governance (ESG) principles.
The fund, which has committed over Rs 15,000 crore in 62 investments, launched its inaugural report on ESG practices undertaken in 2020, with a commitment to make it an annual feature.
Its partner Vishal Nevatia said while the artificial intelligence-led future brings great promises, it is also likely to “widen inequalities further” and “increase social strains if left to run its course.” “It is imperative that as custodians of responsible capital, we do everything within our control to address the two biggest risks facing our society (i.e. inequality and climate change),” he said.
In the last 12 months, the biggest challenge has been centered around managing the wellbeing of the 36,000 employees and their families working for the fund or its investee companies, he said. PTI