Private equity’s ESG journey:From compliance to value creationGlobal Private Equity Responsible Investment Survey 20212 | PwC Global Private Equity Responsible Investment Survey 2021ContentsIntroduction348Entering the age of maturityCreating value for investors and societyEasy as ESG: The drivers of sustainable success? Climate risk11131415? Diversity and inclusion? GovernanceNext steps161822232425Spotlight on venture capitalMethodologyParticipantsAcknowledgmentsContacts3 | PwC Global Private Equity Responsible Investment Survey 2021IntroductionMultiple crises over the past 18 months have delivered astark wake-up call to the world. If we’re going to preventfurther pandemics, reduce the risks of climate change,build a more equitable society and still generate growth,it’s clear that we’ll have to create more sustainableeconomies and systems.The stakes are high. Sustainable investing—a categorythat includes ESG investing, in which ESG considerationsare an overlay to the pursuit of ?nancial performance,and socially responsible investing