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Albright Capital Management

PRI reporting framework 2018

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Post-investment (monitoring)

PE 09. Proportion of companies monitored on their ESG performance

09.1. Indicate whether your organisation incorporates ESG issues in investment monitoring of portfolio companies.

09.2. Indicate the proportion of portfolio companies where your organisation included ESG performance in investment monitoring during the reporting year.

 (in terms of total number of portfolio companies)

09.3. Indicate ESG issues for which your organisation typically sets and monitors targets (KPIs or similar) and provide examples per issue.

ESG issues

List up to three example targets of environmental issues

          Reducing diesel fuel consumption in favor of solar-energy power generation
        
          Replacing diesel generators with aero-derivative turbines in our fast-track power operations
        
          Increasing capex to improve water treatment systems and quality in municipal concessions
        

List up to three example targets of social issues

          Zero tolerance for corruption in supply chains; mandatory training and contract termination provisions
        
          Zero tolerance for non-compliance with safety procedures by security and transport sub-contractors; mandatory training and contract termination provisions
        
          Non-discriminatory, equal opportunity practices in the workplace
        

List up to three example targets of governance issues

          Zero tolerance of corruption in any portfolio company; best practices implemented from Board down, with mandatory training and automatic termination; whistle-blower protection. etc.
        
          
        
          
        

09.4. Additional information. [Optional]

Environmental

For investments with particularly sensitive environmental issues, we identify KPIs in diligence.  For example, with respect to a prior investment in an oil & gas services company, the key performance indicators are the resource reductions that it could attain, such as water and chemical usage, and the company’s success rate in predictive mapping of productive new stages.

Social

For each of our portfolio companies, a key performance indicator is meeting internationally recognized labor standards, such as (i) the payment of appropriate minimum wages and benefits to employees based on relevant local and industry factors (e.g., labor market, cost of living, risks to worker safety, overall level of benefits, job security and local labor law rights, existence of collective bargaining or legal minimum standards, and similar factors); (ii) a safe and healthy workplace;  (iii) fair treatment, non-discrimination and equal opportunity in its hiring and promotion practices, and (iv) no forced labor, especially vulnerable categories such as migrant workers or children, including management of the supply chain to avoid child labor.

Governance

For all of our portfolio companies, a key performance indicator is zero instances of a failure to detect a prohibited payment that would violate FCPA or UK Bribery Act.


PE 10. Proportion of portfolio companies with sustainability policy

10.1. Indicate if your organisation tracks the proportion of your portfolio companies that have an ESG/sustainability-related policy (or similar guidelines).

10.2. Indicate what percentage of your portfolio companies has an ESG/sustainability policy (or similar guidelines).

(in terms of total number of portfolio companies)

10.3. Additional information. [Optional]

We are not always in a position where we can negotiate the implementation of best practices on ESG matters.  When we acquire interests on a secondary basis, we do so with an eye toward increasing the investment and gaining a position of influence, but this does not always happen. 


PE 11. Actions taken by portfolio companies to incorporate ESG issues into operations (Private)


PE 12. Type and frequency of reports received from portfolio companies (Private)


PE 13. Disclosure of ESG issues in pre-exit (Private)


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