ESG 2024 In Numbers - Global Infrastructure Partners
Skip to content

ESG 2024 In Numbers

Environmental

45 TWh

of renewable energy generation

18.9m


tonnes of CO2e avoided through renewable energy2

81%


have decarbonization targets, 67% have Net Zero targets3

78%

of portfolio companies are on track to achieve their decarbonization targets4,5

94%

of portfolio companies assess physical climate risks vs. 40% in 2020

$ 29.5bn

green financing across the GIP portfolio6

Over $19bn invested and/or committed in renewables.7 Current ownership interests in ~25 GW of operating renewable assets, royalty interests in ~23 GW of operating projects and ~181 GW under construction or in development assets8

Social

1.07 | 0.94

Employee | Workforce Lost Time Injury Rate across the portfolio 9

94%

of portfolio companies have employee engagement programs

29%

average gender diversity across portfolio companies

67%

of portfolio companies perform gender pay gap analysis

86%

of portfolio companies collect wider diversity data

$ 24m

voluntarily contributed to charities and local communities by portfolio companies

Governance

100%

of portfolio companies have a Code of Conduct, 94% have a Supplier Code of Conduct

100%

of portfolio companies have a cyber risk management plan in place10

100%

of portfolio companies have Emergency Response Plans and conduct drills

55%

of portfolio companies’ Boards have 30% diversity or more11

89%

of portfolio companies have ESG committees, 65% have ESG-linked remuneration

78%

of portfolio companies publicly report on ESG performance

Notes:

1. Extract from GIP’s ESG reports shared with Investors. Statistics shown represent aggregate portfolio data for the existing GIP Funds, including GIP’s Flagship Funds (GIP II, III, IV and V), GIPA I and II, GIP Core, GIP EM, SMAs and Continuation Funds as of 31 December 2024, unless otherwise stated. Percentages based on number of portfolio companies.
2. Where reported data is not available, avoided GHG emissions are estimated by ICE Data Services. Where relevant, GIP has made further adjustments. ICE Data Services utilizes a similar methodology to how portfolio companies calculate avoided emissions, based on renewable energy generation data and location-specific grid mixes.
3. As of 31 December 2024. Assessed based on forecast Scope 1 & 2 GHG emissions performance and interim target alignment with either a (i) science-based transition pathway – e.g., IEA scenarios or a best-in-class sector pathway, at least to 2030; or (ii) the net zero targets of GIP’s JV partners applicable to the asset (e.g., Gladstone LNG, QCF, Columbia Pipeline Systems) have been considered by GIP to be aligned with good practice (e.g., interim target(s) in place), GIP has not assessed alignment of those targets with a science-based or best-in-class sector pathway.
4. Assessed based on historic and current Scope 1 & 2 GHG emissions performance. Excludes companies that do not have targets and/or are not operational. The progress of assets with a decarbonization target at GIP’s JV partners (e.g., Gladstone LNG, QCF, Columbia Pipeline Systems) have not been assessed and therefore are not considered on track.
5. GIP recognizes the importance of understanding our own carbon footprint as well. We have measured our Scope 1, 2 & 3 (business travel) emissions internally since 2019 across all offices. For 2023 and 2024, we estimate that our Scope 1 & 2 emissions were respectively, 340-350 tonnes CO2e, and 370-380 tonnes CO2e per year. Our measurement methodology is based primarily on actual data. A conservative approach has been taken for the application of conversion factors and data estimation (where required due to a lack of reported data). Therefore, a range has been provided. This reflects GIP’s carbon footprint before acquisition by BlackRock, which closed in October 2024.
6. As of 31 March 2025. Green financing is debt issued in green format that has been independently verified by a third-party advisor. Excludes direct financing of renewables, which would include all assets in Renewables sector. Excludes Naturgy as GIP was not involved in the structuring of its €8 billion sustainable financing.
7. Reflects capital invested and/or committed to investments in the renewable energy sector across the existing GIP Funds / platform pre-syndication and including co-investments, as of 31 December 2024.
8. As of 31 December 2024. Excluding legacy BlackRock Infrastructure platform’s renewable portfolio. The combined existing GIP and legacy BlackRock Infrastructure platforms including the Mid-Market Equity and Climate Infrastructure Funds have a total of ~35 GW of operating renewables assets and ~250 GW of assets under construction or development.
9. Employee LTIR for company employees except where contractors are the only workforce, or only aggregated workforce data is available. Workforce LTIR for total workforce (employees and contractors) including when only partial data available. Calculated per 200,000 hours worked.
10. Created based on the US National Institute of Standards and Technology Cybersecurity Framework and the Center for Internet Security Critical Security Controls.
11. As of 31 March 2025. Represents GIP’s Flagship Funds (GIP II, III, IV and V) only. When considering other existing GIP Funds and strategies (i.e., GIPA I and II, GIP EM, GIP Core, SMAs and Continuation Funds) as well, 50% of companies’ Boards have 30% diversity or more. Gender diversity is defined as Boards that include at least one woman. Ethnic diversity is defined as Boards that include at least one ethnic minority group, based on the geography of the portfolio company.