Global Enviromental Social and Governance Report 2022

Our Annual ESG Report sets out our approach to ESG and provides an update on the progress we and our portfolio companies have made in 2022. Here, we outline the minimum ESG standards we seek to implement at all portfolio companies, and demonstrate how we put our commitments into action.

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Introduction

Managing ESG risks and opportunities is essential to protecting and enhancing long-term value. This is particularly true for infrastructure companies as these assets are long term in nature and can have a significant impact on the environments and communities in which they operate.

A proactive approach to ESG at every stage of the investment process is vital, as these investments cannot be managed successfully without managing their ESG risks and opportunities. We also seek to ensure transparency and accountability to our investors regarding ESG and were awarded 5 Stars in the 2021 PRI survey, indicating ‘leading practices within the responsible investment industry’.

Our Five Minimum Standards

We have developed Five Minimum Standards for ESG performance, which we aim to implement in all of our portfolio companies. These define our goals and assess performance in five key areas: health and safety, climate change, diversity, governance, and employee engagement.

We believe these core standards are universally relevant, even though our companies operate in different industries and jurisdictions, are of varying sizes and stages of development.

Each company additionally sets targets and action plans tailored to their company and unique ESG issues they face.

Minimum Standard 1