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Blackstone Adds Five To Global ESG Team

Blackstone is expanding its Environmental, Social, Governance (ESG) team with five newly created senior positions across the U.S., Europe and Asia.
Elizabeth Lewis is Managing Director of ESG (Corporate). Lewis will handle implementation of ESG policies across Blackstone’s businesses. She has two decades of experience at the intersection of climate change, business, and investment. Most recently, she led engagement on key ESG topics for the International Finance Corporation (IFC). Previously, Lewis held leadership roles at Global Environment Fund, where she developed the firm’s first ESG policies and practices, and Terra Alpha Investments. She serves as a Harvard Alumni Association Committee Member and is a Trustee of the Maryland/D.C. Chapter of The Nature Conservancy. She also serves on the Corporation of the Winsor School in Boston.
James Mandel, Ph.D., is Managing Director of Sustainability (Portfolio Operations). Mandel will support the work of Don Anderson, Blackstone’s Chief Sustainability Officer, in leading Blackstone’s carbon emissions reduction program. Since 2013, Mandel had been Managing Director of Global Carbon-Free Buildings Program for Rocky Mountain Institute (RMI). He led a team focused on cost-effectively decarbonizing buildings. Previously, he served as Engagement Manager and Associate at McKinsey & Company and as a consultant on market-based conservation for Advanced Conservation Strategies. Mandel is Board Chair of WattTime, an independent nonprofit startup focused on emissions analysis. 
Nina James is Head of Real Estate ESG (Real Estate, Asia). James will partner with the Global Head of Real Estate ESG, Eric Duchon, in building out BX's Asia-based capabilities in the Asset Management team. She was previously the General Manager of Responsible Investment and Corporate Sustainability for InvestaProperty Group. She sits on the Australian UNPRI Advisory Committee, the International WELL Building Institute WELL Portfolio Advisory Group, the ULI Australia Executive Counsel, and the Oceania GRESB Advisory Committee.
Caroline Hill is Head of Real Estate ESG (Real Estate, Europe). Hill will similarly partner with Duchon in building out BX's ESG capabilities across Europe in Real Estate Asset Management. She was previously Head of Responsible Business for Lloyds Banking Group. Before that she was Director of Group Corporate Affairs and Sustainability at Landsec plc., developing one of the United Kingdom’s leading real estate sustainability programs and establishing Landsec’s net zero carbon strategy. She also held roles working on corporate responsibility and sustainability at PwC and Whitbread.
Rita Mangalick is Global Head of ESG for Blackstone Alternative Asset Management (BAAM) and Blackstone Credit. Mangalick will partner with both groups to lead ESG diligence, policy development, reporting and engagement. Prior to this role, Mangalick was instrumental in developing BAAM’s ESG program, along with a focus on BAAM’s Advisory Business. She was previously a member of the Business Financial Evaluation team performing operational due diligence of BAAM’s hedge fund managers. Before joining Blackstone in 2013, Mangalick was a Director at UBS Asset Management. She was previously with Union Bancaire Privee and KPMG.

Jon Gray, Blackstone President and COO, said, “We view ESG as central to our mission of delivering strong returns for clients. Blackstone is using its scale and expertise to help strengthen our companies, assets and the communities in which they operate. We are thrilled to have Elizabeth, James, Nina, Caroline and Rita joining our global ESG team. They each bring a wide spectrum of domain expertise as we continue to drive value for our investors and create impact across our portfolio.”

Last year, Blackstone announced a goal to reduce carbon emissions by 15 percent across all new investments globally - where it controls energy usage - within the first three years of ownership as well as two diversity initiatives, starting in the U.S. and Europe, which carries a target of at least one-third diverse representation on portfolio company boards for new control investments plus a program to support creating diverse hiring and career mobility.

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