Private equity and alternative asset manager Blackstone announced today that it has hired Eric Duchon for the newly created position of Global Head of Real Estate ESG. In his new role, Duchon will be responsible for building on the firm’s existing environmental, social and governance efforts and scaling them across Blackstone’s global real estate portfolio. These efforts will include a recent initiative announced by Blackstone in September, aiming to reduce carbon emissions by 15% across all new investments where the firm controls energy usage.
Blackstone stated that Duchon 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.
Blackstone is one of the largest property owners in the world, with a $329 billion global real estate portfolio, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail.
Duchon will report to Giovanni Cutaia, Global Head of Real Estate Asset Management, and will coordinate closely with Blackstone’s corporate ESG leaders.
“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.”
Duchon has held numerous senior sustainability roles over the course of his career. He joins Blackstone following four years at LaSalle Investment Management, where he served most recently as Managing Director, Global Head of Sustainability. At LaSalle, he was responsible for the firm’s ESG strategy and policy implementation for the private equity, securities, and indirect businesses globally, and 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. Additionally, Duchon led the adoption of LaSalle’s climate change and net zero carbon commitments globally. Prior to joining LaSalle, Duchon was Director, Sustainability Strategies at global real estate services firm Cushman & Wakefield.
“The breadth and reach of Blackstone Real Estate is remarkable. I’m excited to work with Blackstone’s global team and build on their existing ESG efforts to further scale the positive impact.”