Blackstone, one of the world’s leading investment firms, completed their previously announced acquisition of Sphera, a leading provider of environmental, social and governance (ESG) software, data and consulting services, from Genstar Capital.
he transaction, which values the company at $1.4 billion, continues Blackstone’s thematic investment focus on the ESG sector and provides Sphera with capital to help accelerate its growth and product offerings.
Spanning over 80 countries with more than 3,000 customers, Sphera combines its software as a service solution with consulting services, underpinned by proprietary data, to support businesses globally to manage and mitigate ESG risk. This support is delivered through its three product lines: Environment, Health, Safety & Sustainability (EHS&S); Operational Risk Management; and Product Stewardship.
« This partnership with and capital injection by Blackstone will facilitate the next evolution of innovation, cementing our position as leaders and allowing us to push ahead with our vision for ESG software integration with extensive data and world-class consultancy services. »Paul Marushka, CEO and president at Sphera
Sphera has recently expanded availability of its Environmental, Social and Governance reporting solutions to support companies on the path to net zero while reducing operational risk and enhancing brand reputation.
With this expanded offering, Sphera customers will have better access to data-driven insights to maximize cost-effectiveness, increase the value of their investments in corporate social responsibility efforts, and satisfy both traditional compliance and future sustainability needs.
For the firm, managing ESG performance reduces exposure to environmental risk, increases revenue and drives organizations into a sustainable future. With growing investor demand for measurable ESG progress, business leaders need to be able to demonstrate their ESG performance with clarity and confidence.
Sphera has adapted its technology suite to specifically address this burgeoning market need. Moving toward a net-zero emission target is one of the most important metrics for ESG reporting. However, the assessment, management and reduction of Scope 3 emissions are the most difficult parts to achieve due to the huge amount of information that needs to be collected and analyzed. Sphera’s combination of data, software and expertise helps companies address these strategic decarbonization challenges.
Sphera’s ESG solution also incorporates a number of widely accepted disclosure framework standards, such as the Global Reporting Initiative (GRI). This flexibility enables companies across industries to efficiently report their sustainability activities in relevant, sector-specific terms.
Source: Blackstone, Sphera