US asset management giant Blackstone announced on Friday that Eric Duchon has joined the firm in the newly created position of global head of Real Estate ESG. Duchon will work closely with Real Estate Asset Management teams across the globe to build on existing environmental, social and governance efforts and scale them across the firm’s $329 bn global real estate portfolio. He will also work with the Real Estate team’s portfolio companies to ensure that the firm’s commitment to sustainability and diversity and inclusion are fully integrated across asset classes and geographies.
He will report to Giovanni Cutaia, global head of Real Estate Asset Management, and will coordinate closely with Blackstone’s corporate ESG leaders.
Cutaia said ‘Sustainability, social engagement, and good governance have been core priorities for our business for many years, and we are committed to continually evaluating how we can do more. Eric brings more than a decade of real estate ESG experience to the table, and we’re thrilled to have him on board as we continue to find new ways to expand our impact.’
Blackstone has been focused on ESG for over a decade and recently announced a commitment to reduce carbon emissions by 15% across all new investments where Blackstone controls energy usage.
Prior to joining Blackstone, Duchon was the global head of Sustainability at LaSalle Investment Management, where he was responsible for the firm’s ESG strategy and policy implementation for the private equity, securities, and indirect businesses globally. During his time at LaSalle, he spearheaded initiatives that advanced the firm’s ESG program significantly, resulting in A+ UN PRI scores and GRESB score increases of ~30% across global submissions, and led the adoption of the firm’s climate change and net zero carbon commitments globally. Previously, he was also the director of Sustainability Strategies at Cushman & Wakefield.
