Our history
During the height of the Covid-19 pandemic lockdowns, CalPERS and Carlyle got a small group of GPs and LPs together alongside BCG on videoconference to discuss the ongoing challenges they were facing with the lack of standardized, meaningful, and performance-based sustainability data from private markets.
The effect had been paralytic:
- LPs could not see standardized, comparable sustainability data across their portfolios.
- GPs were struggling with a mounting volume of bespoke data requests, while being unable to know if they were making meaningful progress on sustainable value creation.
The group began to brainstorm how to drive convergence around a standardized set of sustainability metrics alongside a mechanism for comparative reporting to benefit all stakeholders in the private markets.
They focused on a data solution simple enough for the market to quickly adopt, broad enough to be applicable across all of private equity, and substantial enough to provide meaningful data.
And so, in September 2021, the initiative’s founding members announced the launch of the EDCI.
Based on input from its members through working groups, the initiative has evolved significantly since its founding, with membership options now available for Infrastructure investors, Private Credit firms, and ESG Data Platforms. Going forward, the EDCI will continue to serve the private markets, supporting all stakeholders in driving sustainable value creation.
The partnership is open to any eligible members that wish to join and support the principles of the work. We hope you’ll join us!
Our yearly cycle
May – June
The annual sprint
- EDCI members are provided opportunities (e.g., surveys and focus groups) to share their experiences gathering data and their metric priorities (e.g., changes to metric definitions and potential new metrics for inclusion)
- Member-led working groups are held to discuss strategic priorities for the initiative (e.g., expansion to new asset classes)
- Inputs from member survey, focus groups, working groups and relevant industry bodies are captured and added to the Steering Committee annual sprint agenda
September
Completion of metric sprint
- Based on EDCI member feedback, Steering Committee finalizes metric changes for following year (including changes to guidance, data submission template and new metrics for inclusion)
May – August
Benchmark publication and strategic priorities
- BCG Expand validates GP submissions and released the annual EDCI benchmark to all members
- Steering Committee meetings to discuss path forward on strategic priorities
September – April
End of annual sprint and new data collection cycle
- Annual Sustainability in PE report is published using the insights from the EDCI data
- Strategic decisions for the upcoming cycle are voted on and implemented by the SteerCo
- Steering Committee elections are held
- GPs collect sustainability data from their portfolio companies, and submit to the EDCI by April 30
Financial Sustainability
Since its humble beginnings in 2021, the EDCI has grown far beyond our expectations but not our ambitions. Thanks to the engagement of our members, the EDCI now includes over 500 GPs and LPs worldwide, has validated and aggregated comparable sustainability data from more than 8,000 portfolio companies, enabled seamless GP-to-LP data sharing, and expanded into new asset classes including infrastructure and private credit.
This extraordinary growth has only been made possible through the dedication of our members, the Steering Committee, ILPA and the full-time pro bono support we’ve received from BCG. As we look ahead to 2026 and beyond, it’s clear that the scale of the initiative now calls for a more sustainable foundation to continue delivering the high-quality experience our members have come to expect.
To support this next chapter, the Steering Committee has explored a range of models, drawing on lessons from comparable initiatives, and has determined that introducing an initiative membership fee (for member GPs and non-fee generating LPs) beginning in 2026 is the way to continue on the path to financial sustainability. This fee will be scaled by AUM to ensure broad accessibility and will be designed for cost recovery only—not for profit. We’re also pleased to share that BCG will continue to support the initiative under a revised ‘low bono’ model, allowing us to maintain the high standard of service that has defined the EDCI to date.
Our members continue to play a central role in our mission to advance convergence across the private markets. As we move into the next phase of the EDCI, we’re excited to be working closely with them to shape this evolution and to enable a high-quality membership experience for 2026 and beyond.
You can find detailed information about the membership offerings for both GPs and LPs via the links below.
EDCI Steering Committee
The ESG Data Convergence Initiative was created by the industry, for the industry. The EDCI Steering Committee, composed of 8 LPs and 8 GPs, makes strategic decision about the initiative and is led by two Co-Chairs (one GP and one LP: currently Apollo and CPP Investments). Historically, the Steering Committee was comprised of the founding GPs and LPs that were part of the initial work to launch the initiative.
Membership on the Steering Committee will rotate to bring in perspectives from the broader participating group of LPs and GPs. Beyond the Steering Committee, all members have opportunities to be actively involved, for example by serving on working groups or providing feedback (e.g., on EDCI metric selection via a survey).
The Steering Committee conducts annual sprints to review the initiative’s progress, and our process, organization, and scope. This includes a retrospective of the initiative’s annual cycle of data collection, and consideration of proposed changes to the initiative for the following year (e.g., refinements to the EDCI metrics).
Limited Partners
General Partners
EDCI Facilitation
ILPA: Steering Committee Secretariat
ILPA serves as official Secretariat to the EDCI Steering Committee and facilitates the annual EDCI Steering Committee sprint meetings. ILPA also supports Steering Committee governance and elections.
ILPA is continually working to align LPs and GPs around important ESG issues and provides education, resources, and toolkits for private equity investors looking to integrate ESG considerations into investment programs. For more information, visit ILPA’s ESG resources page.
BCG: Initiative Administration
Boston Consulting Group administers the EDCI with responsibilities including advising the Steering Committee, supporting the EDCI membership base, and creating the annual benchmark.
Since the initiative’s inception BCG has supported the EDCI on a pro-bono basis, in two primary ways:
- Serving as the third-party aggregator of anonymized data through BCG Expand, a fully owned subsidiary that specializes in benchmarking, in order to create a robust benchmark, derive research insights, and support any external publications as governed by Steering Committee approval.
- Advising the Steering Committee through its annual sprint process reviewing the initiative’s progress (including gathering and structuring participant feedback on EDCI metrics).
Under the EDCI’s revised membership model, BCG will continue to support the EDCI on a ‘low bono’ model.
