StepStone Group Inc. (STEP) — ESG & Values Scores

Environment story

StepStone reports carbon-neutral operations through annual third-party carbon footprint measurement and offset purchases since 2019. However, the company discloses no Scope 1, Scope 2, or Scope 3 emissions data, making quantitative assessment impossible. The firm implements recycling, paper-reduction, and LEED office-leasing practices but provides no net-zero target year or hard emissions-reduction commitments. Heavy reliance on carbon offsets rather than operational decarbonization, combined with undisclosed Scope 3 supply-chain emissions from portfolio companies and fund operations, suggests greenwashing risk. The firm's RI policy and UNPRI signatory status do not offset the absence of verified emissions baselines or science-based targets.

Criticisms on file

No material criticisms on file for this pillar.

Disclosed initiatives

Annual Carbon Footprint Measurement & Offset

Since 2019, engaged external consultant annually to measure corporate carbon footprint and fund sustainable development projects to achieve carbon-neutral status.

Operational carbon neutrality claimed; reliance on offsets rather than direct emissions reduction.
Office Operations Decarbonization

Implemented recycling protocols, transitioning to electronic tablets in meetings, paperless initiatives, and preference for LEED-certified office space.

Marginal operational GHG reduction; insufficient to offset portfolio and fund-level emissions.
Vendor Climate Due Diligence

Added climate-related queries to vendor evaluation process to assess carbon footprint measurement and offset/reduction initiatives.

Limited scope; applies only to direct vendors, not portfolio companies or underlying fund managers.
UNPRI Signatory & Climate Policy

Became UNPRI signatory in 2013; adopted Responsible Investment policy in 2014 and standalone climate policy in 2022 with TCFD alignment.

Policy-level commitment; no binding emissions targets or third-party verification disclosed.

Social story

StepStone reports 1,310+ employees globally with approximately 420 investment professionals and 890 operations staff as of March 31, 2026. The firm emphasizes equal employment opportunity, level playing field, culture of belonging, and continuous improvement; however, no quantitative diversity metrics (gender, race/ethnicity) are disclosed for workforce or leadership. CEO-to-median-worker pay ratio is not disclosed. The firm claims good employee relations with no labor interruptions or NLRB complaints documented in source materials. Union standing is not addressed. Modern slavery due diligence is embedded in vendor and investment evaluation but with no third-party audit or remediation data. Supply-chain human-rights risks, particularly in DRC cobalt or lithium mining (relevant to portfolio companies in infrastructure, private debt, and tech), are acknowledged but unmitigated at the portfolio level.

Criticisms on file

No material criticisms on file for this pillar.

Disclosed initiatives

Equal Employment Opportunity Framework

Three-pillar approach: level playing field, culture of belonging, continuous improvement integrated into recruitment, hiring, retention, development, and promotion policies.

Policy framework exists; no quantitative diversity data disclosed for verification.
Equity Ownership & Incentive Alignment

Over two-thirds of employees hold equity interests via direct holdings or restricted stock units under 2020 LTIP; 200+ employees eligible for carried interest allocations.

Strong alignment of employee interests with firm performance; reduces conflicts.
Professional Development Programs

Well-structured training programs, mentorship, and career development opportunities; emphasis on growing talent internally.

Supports retention and advancement; no quantitative metrics on promotion rates by demographic.
Modern Slavery Due Diligence

Vendor and investment due diligence process queries for forced labor, human trafficking, child labor, unsafe working conditions, and freedom of association restrictions.

Process-level controls; no third-party audits, remediation plans, or portfolio-level enforcement disclosed.

Governance story

StepStone Group Inc. is a public company with a Class A common stock structure; however, details on board independence percentage, dual-class voting structures, and share capitalization are not disclosed in the 10-K excerpt provided. The firm is a registered investment adviser subject to SEC oversight under the Investment Advisers Act, with compliance policies for conflicts of interest, fiduciary duty, and client allocation. No active lobbying spend targeting environmental deregulation or consumer-protection rollbacks is disclosed. No significant antitrust, consumer-safety, or financial-fraud regulatory proceedings are reported in the excerpt. The governance structure includes Investment Committees and Portfolio Risk Management Committees for each asset class, plus a Global Allocation Committee. However, specific board composition, independence metrics, and lobbying expenditures remain undisclosed, limiting quantitative governance assessment.

Criticisms on file

No material criticisms on file for this pillar.

Disclosed initiatives

Investment Committee & Risk Management Oversight

Established Investment Committees (ICs) and Portfolio/Risk Management Committees (PRMCs) for each asset class; Global Allocation Committee oversees multi-asset class matters and capital-market assumptions.

Distributed governance structure with risk oversight; no board-level governance disclosures provided.
Fiduciary Duty & Conflicts of Interest Management

Registered as investment adviser with SEC; bound by Investment Advisers Act fiduciary requirements; maintains compliance program for conflicts, client allocation, performance fees, and recordkeeping.

Regulatory compliance framework in place; effectiveness depends on SEC examination and enforcement.
Responsible Investment Governance

Responsible Investment Committee provides oversight; RI due diligence applied to primaries, secondaries, and co-investments; annual review of RI policy; UNPRI and UK Stewardship Code signatory.

ESG governance framework established; integration into investment process documented.
Data Security & Cybersecurity Controls

Compliance with SEC Regulation S-P amendments (effective Dec 2025); implementation of cybersecurity policies, incident notification procedures, and service-provider oversight; dedicated in-house DATS team of 30+ engineers for data system maintenance.

Proactive governance of operational and cyber risks; costs and complexity of compliance increasing.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of StepStone Group Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open StepStone Group Inc. in the app for interactive charts and portfolio building.

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