AUSTIN, Texas--(BUSINESS WIRE)--Vista Equity Partners (“Vista” or the “Firm”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, today announced that it has partnered with Clearloop, a renewable energy accelerator, to offset its 2020 corporate carbon footprint and help expand access to clean energy in Jackson, Tennessee. The Firm subscribed to Clearloop’s first 1-million-watt solar project, and its partnership will help build 510 new solar panels and power 44 homes in the underserved community.
Jackson, where nearly half of the population identifies as African American, is the hub of rural West Tennessee. Though it’s been identified as a Distressed Community by the Economic Innovation Group, it's already embracing the economic and health benefits of the clean energy economy. The Clearloop solar project is located in an industrial area of the county across the road from the Tennessee College of Applied Technology (TCAT) - Jackson, which will be a key component in the creation of a local workforce development program for electricians and other trades in the area. The project, which will guarantee clean energy to the community for the next 40 years, is slated to break ground in September 2021 and generate clean electricity by July 2022.
“We’re proud to partner with Clearloop to invest in carbon neutrality in ways that improve racial equity,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “The COVID-19 pandemic and events of 2020 made clear there are persistent, structural challenges facing African Americans, including in the southeast. All communities simultaneously face the existential risks of climate change. This groundbreaking project will address both issues, deploying solar energy into a particularly disadvantaged African American community and creating local jobs.”
"We're grateful for the visionary leadership of Vista Equity Partners for not only reclaiming their carbon footprint, but also making their climate action investment do more by cleaning up the grid and expanding access to clean energy in American communities otherwise getting left behind. This investment recognizes that although access to clean energy is not equitable in our country today, we have a great opportunity to ensure that corporate ESG commitments deliver on the promise of a just transition to a decarbonized economy." Laura Zapata, Clearloop CEO & Co-Founder.
This is the second consecutive year Vista has achieved carbon neutrality and strengthened its commitment to DEI across its ecosystem. The Firm utilizes a software measurement tool to accurately track its greenhouse gas (GHG) emissions and help identify opportunities for reduction and goal setting. Last year, Vista partnered with Chyulu Hills REDD+ Project, which helps protect and improve forest quality in the Tsavo-Amboseli ecosystem in southeastern Kenya. The project also partners with local communities to provide long-term sustainable financing to maintain the local landscape’s ecological integrity.
The Information and Communications Technology industry’s emissions doubled between 2007 to 2020, and as an enterprise software investor, Vista acknowledges its role in managing its operations responsibly and reducing its share of GHG emissions to limit global warming and avoid the worst effects of climate change. Vista’s ESG practices reflect its commitment to creating value for all its stakeholders and the Firm’s belief that the transformative power of technology is the key to a smarter economy, a healthier planet and diverse and inclusive communities.
About Vista Equity Partners
Vista is a leading global investment firm with more than $75 billion in assets under management as of December 31, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
About Clearloop
Clearloop partners with companies big and small to offset their carbon footprint and expand access to clean energy by funding new solar projects in American communities otherwise getting left behind. Clearloop was founded by three Tennesseans who are focusing corporate sustainability investments on cleaning up the grid to ensure that the environmental, health, and economic benefits of clean energy reach all communities around our country equally. Learn more at: https://clearloop.us/.
