A recent trend in the PE industry is the prioritization of responsible investing by sponsors and institutional investors. A key step in that process is vetting potential investment opportunities to ensure they meet a firm’s standards on ESG issues. As an amorphous task without clear parameters, however, it can be difficult for sponsors to understand ESG due diligence considerations and prepare effective questions accordingly. To assist with that process, Invest Europe – an association of PE firms, venture capital firms and other industry participants – used input from its responsible investment roundtable and its professional standards committee to prepare a guide (Guide). The Guide sets forth best practices for pre- and post-acquisition consideration of ESG issues, and it provides a comprehensive set of due diligence questions for sponsors to use before and after an acquisition. This article summarizes the Guide. See “LPs Are Increasingly Frustrated by GPs’ Outdated Technology and Non‑Standardized Reporting” (Dec. 15, 2020); and “Preparing for the E.U.’s New Regulations for Disclosing Sustainability Risks and Negative Impacts from ESG Investing” (Jun. 9, 2020).