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Colonial First State Global Asset Management (including First State Investments)

PRI reporting framework 2016

Export Public Responses

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INF 14. ESG issues in post-investment activities

14.1. Indicate if your organisation, and/or operators, consider ESG issues in post-investment activities relating to your infrastructure assets.

14.2. Indicate how your organisation, and/or operators, considers ESG issues in the following post-investment activities relating to your infrastructure assets.

14.3. Describe how your organisation, and/or operators, considers ESG issues in post-investment activities related to your infrastructure investments. [Optional]

The boards of our infrastructure investments govern and require management to set meaningful and appropriate ESG targets for their annual performance scorecards. These targets are monitored on an ongoing basis and form part of board reporting. Management compensation may be impacted by the achievement of the ESG targets.

As owner of a portfolio of companies in similar sectors we encourage and facilitate the exchange of experience and best practice by organising workshops, site visits exchange of documents amongst the management teams of our portfolio companies. This has already let to operational improvement for the prevention of electricity outages caused by trees falling on electricity lines during storm events, and thus improved power outage statistics.

Further examples include:

  • the replacement of current fuel sources by alternative fuel with lower environmental impact in our ferry business
  • improvement of customer satisfaction , measured on a monthly basis
  • encouraging local university research projects to take place on the premises of our portfolio companies to encourage a sharing of knowledge and strong relationships with the local community
  • setting specific targets for the reduction of embedded carbon in all new installed hardware. This forced the supply team and chain to think of innovative ways to reduce embedded carbon (in a cost effective way) and led to a significant fall in the level of embedded carbon in new hardware
  • setting ESG reporting standards for our airport business. As a result the business implemented improved, measurable goals that were tracked. The results of the measurement were presented to shareholders and new goals were set

14.4. Additional information. [Optional]

Please also refer to the attached ESG report for EDIF which contains examples for each portfolio company.