Sustainability at CAPZA

Building resilience and long-term value through sustainability

Since 2011, CAPZA has integrated ESG considerations throughout the investment process to help European SMEs and mid-cap companies manage risks, strengthen resilience and create long-term value.

2025 Highlights
89%

investments linked to sustainability objectives

81%

portfolio companies have an ESG Manager

76/100

average portfolio ESG Rating (+2% vs 2024)

88/100

CAPZA ESG Rating (+1% vs 2024)

81%

portfolio companies have emissions reduction plan

680

tCO2eq/€m GHG intensity (Scopes 1,2,3)

0%

portfolio companies have a very high climate risk

0%

portfolio companies have high biodiversity risk

Our Approach

1. Supporting Our Portfolio Companies
 
We partner with our portfolio companies to turn sustainability ambitions into action by helping them define and implement tailored ESG roadmaps, navigate regulatory change and respond to stakeholder expectations.

 

Our annual assessment covers more than 200 indicators across 16 ESG topics. It enables companies to set priorities and shape their annual action plans. Where relevant, measurable objectives are embedded into to financing structures or management incentives.

 

Support includes regulatory guidance, access to specialist providers, Climate Fresk workshops and training on responsible AI and cybersecurity. As part of this support, in 2025, we launched a series of interactive, function-specific AI bootcamps for our portfolio companies, aimed at raising employee awareness, accelerating the adoption of high-impact solutions and promoting responsible AI use. The sessions have so far covered HR, sales and marketing, and finance, with further themes to follow.

 

We also foster collaboration across our portfolio through our Sustainability & Impact Awards, which celebrate companies’ achievements and facilitate the sharing of best practices. In 2026, the event welcomed more than 120 participants and introduced the Étoile Verte Award, open to French SMEs beyond the CAPZA’s portfolio.

2. Providing Sustainable Investment Solutions
 

We apply a consistent sustainability approach across our investment strategies, integrating ESG considerations throughout the investment cycle. Through ESG reporting, regular assessments and ongoing engagement with portfolio companies, we monitor progress and support continuous improvement. 
 
This approach is reflected in dedicated solutions. Flex Equity Mid-Market II and MAIF Dette à Impact Environnemental support portfolio companies in their decarbonisation journey through tailored roadmaps, resources and aligned financial incentives.    
 
CAPZA Flex Equity 6 provides up to €100,000 per portfolio company to support the implementation of tailored ESG roadmaps, while CAPZA Private Debt 7 incorporates sustainability-linked mechanisms, with a target of linking at least 75% of unitranche investments to measurable ESG objectives. 

3. Leading by example

 

We apply to our own operations the standards we promote across our investments.

 

Dedicated governance, annual ESG monitoring and sustainability objectives incorporated into employee remuneration ensure accountability. Employees also receive training on sustainability, responsible AI and cybersecurity.

 

CAPZA has a team of 14 internal Climate Fresk facilitators who lead workshops within the firm and its portfolio companies.

 

Through CAPZA4GOOD, employees actively contribute to initiatives aligned with our sustainability and impact priorities.
 
We also support financial education and access to careers in finance through partnerships with Citéco, Fondation Florence in France and Starting Finance in Italy.

4. Collaborating with Our Ecosystem

 

We believe collaboration accelerates progress. By sharing expertise and engaging with investors, academic institutions and industry bodies, we contribute to the advancement of sustainable investing and responsible finance.
 
Our key partnerships include France Invest, Initiative Climat International and the PRI Private Debt Advisory Committee.

Our team

Led by Aurore Gauffre, COO and Head of Sustainability & Impact, the team includes Solenn Deluche and Yasser Sael, Sustainability & Impact Associates; Hugo Villain, Sustainability & Impact Analyst; and Aurélien Jacquinot, IT & Cybersecurity Manager. The team works closely with ESG representatives across CAPZA.

Learn more about our Head of Sustainability & Impact

Our Three Priorities

 
 

Carbon Neutrality

 

We measure emissions, assess climate-related risks and support portfolio companies in their transition towards Net Zero. By 2030, we aim for 70% of equity investments and 50% of debt investments to be aligned with a Net Zero trajectory.

 

Biodiversity and Water Preservation

 

We assess impacts and dependencies while promoting responsible sourcing and water management practices.

 

Inclusion and Value Sharing

 

We foster diverse governance, employee ownership and value-sharing initiatives.
 
 

Policies, Reports and SFDR Disclosures

– Responsible Investment Policy

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– Sustainability-related Disclosures

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– Sustainability Report 2023

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– Sustainability Report 2024

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– Sustainability Report 2025

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– Engagement policy

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– Report on Engagement policy

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– PAI Statement 2023

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– PAI Statement 2024

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– PAI Statement 2025

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– PAI Statement 2026

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More news
  • 9
    Apr’ 2025
    CAPZA launches an AI training program
    CAPZA launches an AI training program to support its portfolio companies in their digital transformation.
    Read more
  • 6
    Dec’ 2023
    Conference on Water-related Challenges
    Emma Haziza was the guest of the latest Sustainability Lunch Debate hosted by CAPZA.
    Read more
  • 8
    Nov’ 2022
    Launch of MAIF Dette à Impact Environnemental Fund
    MAIF and CAPZA/ARTEMID launch a dedicated environmental impact debt fund.
    Read more
  • 10
    Oct’ 2022
    Decarbonization of SMEs: the challenges of private equity
    This opinion paper was co-authored by CAPZA’s Founder & Executive Chairman Christophe Karvelis-Senn and Aurore Gauffre, Head of Sustainability & Impact. It was published by the French newspaper Les Echos.
    Read more