Every constituent of the capital markets is eager to be seen considering the environmental, social and governance impact of their activities. The private equity industry is no exception. But while it may well be able to screen what it buys as far as the E and G of the ESG trinity are concerned, it sometimes struggles with the S. That’s because the consequences of a PE buyout of a company are often job losses and lower benefits for the least well off workers. Does that mean that the PE business model is antithetical to socially responsible investing? Or are the buyout barons doing society good by improving the assets they own? And how can they better manage their impact — something that will surely be a business advantage while socially responsibility is such a priority in capital markets?