This article is featured in the 2024 FCLTGlobal Blue Book, a collection of real-world examples of how our members are putting long-term strategies into practice today. We hope that these practical illustrations will inspire others to embrace the mission of focusing capital on the long term. Learn more >>

Bain Capital’s enduring commitment to lasting impact has remained the heart of our work since our inception. We’ve sought to partner differently and help our portfolio companies realize their long-term potential as more sustainable leaders in their industries and stronger supporters of their employees and communities. Simply put, these principles are good business and result in companies that achieve long-term growth and performance. 

From this foundational belief, we codified five core ESG commitments in 2021 as priority areas where we believe our impact can be both meaningful and aligned with our skillset, value, and experience: active governance and stewardship; sustainable growth and reducing climate impact; fair employment, engagement, and wellbeing; diversity, equity, and inclusion; and community engagement.  

Addressing the Pressing Nature of Climate Risks and Opportunities 

Across our firm, we are acutely aware of the immediacy and scale of global challenges, especially those related to climate change. Climate change poses a systemic risk to the global economy, presenting not just a strategic and business challenge for all companies and investors, but also an opportunity for those that align their portfolios and operations towards decarbonization.  

Over the past two years, as part of our commitment to Sustainable Growth & Reducing Climate Impact, we have progressed our firm-wide climate ambitions and curated tailored pathways for decarbonization through close engagement with our portfolio companies and investments. Together, we work to ensure that climate risks and opportunities are assessed and to curate metrics for our investments to track progress. Over 80 percent of our Global Private Equity portfolio companies have already quantified their Scope 1 and Scope 2 emissions. We are actively engaged in advancing this initiative, striving to expand Scope 3 emissions measurement and moving to develop decarbonization goals that align with Science-Based Targets (SBTi) where possible.  

Two of our recent private equity investments highlight our commitment to Sustainable Growth & Reducing Climate Impact over the long term. We completed a significant equity investment in EcoCeres, a leading bio-refinery specializing in 100 percent waste-based advanced biofuels, in January 2023. EcoCeres is the largest renewable diesel producer in Asia and one of the only two Sustainable Aviation Fuel (SAF) producers globally. The company is evaluating various forms of agricultural, waste, and processed residue forms of feedstock to further SAF production going forward. Through our partnership, EcoCeres benefits from our deep industry experience and resources to scale and advance renewable fuel technologies globally. 

Additionally, in December 2023, Bain Capital Private Equity agreed to acquire a controlling stake in Eleda, a leading Nordic infrastructure development and services provider. The company is the market leader within several segments, many of which address the needs of the green transition including water and sewerage, power distribution, district heating, roads, data centers, railways, and electric vehicle charging stations. We are focused on the sustainability trends contributing to Eleda’s opportunities, including electrification, renewable energy, and water preservation. Through our partnership, we are excited to help drive Eleda to the next stage and scale the foundational infrastructure for sustained growth. 

Climate-related considerations are critical to investment evaluation in our Credit and Special Situations business units. With comprehensive diligence processes and the incorporation of material ESG factors into our investment decision-making framework, we diligently assess physical and transition climate risks.  

An outcome of such an approach led to our investment in Reconomy, a next-generation provider of tech-enabled services with a mission to serve the circular economy. The company empowers leading global brands to transform sustainability ambitions into competitive advantages. Reconomy uses data and analytics to help clients meet and achieve zero waste goals, navigate complex regulatory policies, and create circular logistics networks. Since 2018, Reconomy Group has helped its clients reduce CO2 emissions by 35,000 tons and generated £331 million in social and economic value in over 80 countries. In 2023, Reconomy took a step further by completing an acquisition of Combineering – a green technology development company scaling waste recycling and recovery solutions. 

Sustainability is also fundamental to our portfolio company Cuisine Solutions’ long-term growth. Its facility in San Antonio, Texas was awarded the 2021 Sustainable Plant of the Year by Engineering Food Magazine. It has one of the largest solar installations in the city, meticulously devised stormwater management systems, and a water recycling program. The facility also uses natural, non-toxic materials – like compressed earth blocks made from subsoil, clay, and aggregate – to avoid further disrupting its surrounding environment.  

Deepening Our Impact Across Portfolios 

We continuously strive to deepen our decarbonization impact, make significant strides in our core ESG commitments, and measure progress over time. These progressive initiatives underscore our dedication to responsible and impactful investment practices that we believe will further drive value creation. As we look to the future, we have a unique opportunity to grow businesses for the long term, drive real value and resilience across our investments, and help our companies become more sustainable leaders in their industries.  

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