For lenders and sponsors evaluating investment opportunities, one essential key in this reporting process lies in measurability. When it comes to financing or launching a sales process, demonstrating ESG performance to lenders or investors can be integral to a deal. We have seen many reporting requirements on sustainability initiatives remain based on company self-disclosures, with limited uptake of the newly forming standardized frameworks. The risk remains present for companies to cherry-pick favorable metrics to demonstrate performance. Sustainability reporting standards are rapidly evolving as LPs look for more transparency intoPrivate funds’ performance on highly varied and divergent ESG factors. While a universal standard for reporting has yet to be established, regulators and market participants are in the early stages of discovering bespoke reporting and internally developed methods that work for them.