Doughty Hanson, a European buyout firm, has appointed Adam Black to advise portfolio companies on environmental, social and governance issues.
Stephen Marquardt, head of investor relations and joint chief operating officer at Doughty Hanson, said in a statement: “It is clear that a company’s ability to sustain returns over the long term is in part dependent upon its adherence to strong governance, sound environmental stewardship and social responsibility.”
Black joins from KPMG, the Big Four accountant, where he was an associate director in the risk and sustainability team, where he had responsibility for the environmental, health and safety advisory and due diligence businesses, and the climate change business. He worked previously at Environmental Resources Management, a consultancy. He joined the consultancy from Halliburton, a global oil and gas company, where he was a member of the environmental, health and safety team.
Doughty Hanson has signed up to the Principles of Responsible Investment, a UN initiative on environmental, social and corporate governance. It has also been carbon neutral since 2006. The firm was also a founding member of Bridges Ventures, a socially minded UK venture capital firm. Nigel Doughty, a co-founder of Doughty Hanson, is on the venture firm’s board.
Other firms to give greater prominence to the environment recently include Kohlberg Kravis Roberts, a global buyout firm, which entered into a “green portfolio” partnership with the Environmental Defense Fund, a non-profit organisation, to measure and improve KKR’s environmental performance.