World’s First Energy Transition Accelerator™, Legence, Creates One of the Largest ESG Consultancies in North America
The new acquisition positions Legence, a Blackstone company, to provide best-in-class ESG services to the world’s largest companies and institutional investors
SAN JOSE, Calif.–(BUSINESS WIRE)–Legence, a Blackstone company, announced today its acquisition of LORD Green Strategies, a leading sustainability consultancy headquartered in Texas. LORD Green will merge with RE Tech Advisors, an existing Legence company. This deal will strengthen Legence’s environmental, social and governance (ESG) consulting and advisory services to help clients fulfill their fiduciary and investment objectives while decarbonizing their operations and asset portfolios.
With this merger, Legence now owns and operates one of the largest ESG consulting practices in North America, providing unparalleled expertise to global customers in response to rapidly growing investor demand for ESG services. Now with over $1.5 trillion in assets under management, major multinational companies already trust Legence to help them meet their ESG goals and drive progress toward a low-carbon economy. Together, RE Tech Advisor’s and Lord Green’s clients include Invesco, UBS, MetLife Investment Management, Principal Real Estate, the U.S. Department of Energy, among many others.
Today, more than 90% of the companies in the S&P 500 publish ESG reports and 73% of S&P 500 executives now have their compensation tied to ESG performance. Organizations like RMI have tracked a growing desire by market-leading firms to “improve their understanding and analytical capabilities related to climate risk.” By establishing itself as a leader in the ESG consulting space, Legence is positioned to provide the biggest companies with these vital services.
“Our clients now have access to the deepest pool of expertise in the industry as we transition to a low-carbon economy,” said Deb Cloutier, CSO of Legence and President and Founder of RE Tech Advisors. “By bringing together our teams, we offer a more robust approach to integrated ESG services. We look forward to helping our clients respond to the climate crisis at much greater scale and speed.”
To date, RE Tech Advisors has supported over 100 commercial real estate clients achieve more than $300 million in energy-related cost reductions. By bringing on the LORD Green team with decades of operational experience in decarbonizing the built environment, RE Tech Advisors will now be uniquely positioned to lead this emerging sector. RE Tech will seamlessly integrate LORD Green’s team and expertise into Legence’s portfolio to provide unparalleled solutions for the industry.
“LORD Green Strategies was built on the belief that we could make an authentic impact on commercial real estate sustainability,” said Mychele Lord, President and Founder of LGS. “Combining forces with RE Tech Advisors—a well-respected company and fellow trailblazer in the ESG market—will allow our clients and employees to accelerate their positive impact on our future environment. With this transition, we will provide unmatched expertise in all aspects of the built environment to support a wide range of companies in achieving decarbonization goals.”
Legence CEO Jeff Sprau said, “As Legence continues to build the first Energy Transition Accelerator™ organization, we are proud to welcome this leading firm into our growing legion of companies. The LORD Green team was hand-selected based upon their expertise and culture, as well as sharing our vision of delivering energy efficiency and decarbonization to the built environment. Increasingly, Legence is taking on a central role across the multiple sectors serviced by our teams; thanks to prudent federal policy accelerating our energy transition, we’re confident we will do great things together and in collaboration with our clients.”
About Legence
Legence, a Blackstone portfolio company, is an Energy Transition Accelerator™ that provides advisory services and implementation focused on financing, designing, building, and servicing complex systems in mission-critical and high performance facilities. With five plus decades of expertise in the built environment, Legence has a proven track record of reducing carbon emissions, implementing renewables, lowering utility costs through efficiency consumption, and making systems run better at unmatched speed and scale. To learn more about Legence and its services, visit https://www.wearelegence.com/.
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Jack Shaw
