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Triodos Investment Management B.V.

PRI reporting framework 2018

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Pre-investment (selection)

INF 05. Incorporating ESG issues when selecting investments

05.1. Indicate if your organisation typically incorporates ESG issues when selecting infrastructure investments.

05.2. Describe your organisation's approach to incorporating ESG issues in infrastructure investment selection.

Triodos Investment Management applies positive ESG factors for all renewable energy projects. A deliberate choice is made on infrastructure projects fitting the overall values of Triodos Bank. Additionally all investments need to meet the investment universe Triodos Research applies.

Within the Energy and Climate department (Infrastructure) a ESG policy is in place. The investment manager analyses the project on its contribution on environmental, social and governance issues based on a due diligence questionnaire and open-end questions. Account managers and investment managers are probed on ESG criteria during the preparation phase and execution phase of the project financing/investment. The Credit and Investment Committee (ICKC) reserves time and dedication to the ESG criteria on which the final investment decision will be made.


INF 06. ESG advice and research when selecting investments

06.1. Indicate whether your organisation typically uses ESG advice and research sourced internally and/or externally when incorporating ESG issues into the infrastructure investment selection process.

          Investment Committee of the fund
        
          Investment Managers of the fund
        
          Triodos Research and Credit Analyst
        
          WEC - energy efficiency indicators and conversion rates
Ecofys - conversion rates
        

06.2. Additional information.


INF 07. Examples of ESG issues in investment selection process

07.1. Indicate which E, S and/or G issues are typically considered by your organisation in the investment selection process and list up to three typical examples per issue.

ESG issues

List up to three typical examples of environmental issues

          In the several repowering opportunities, extensive environmental studies are conducted in 2017, to investigate the impact of the new park
        
          At operational windfarms investigation into mortality under birds by the turbines.
        
          Reporting on renewable energy production and saving of CO2/yr
        

List up to three typical examples of social issues

          endorsement for renewable energy production from the muncipality and neighborhood
        
          developing repowering opportunities with community initiatives
        
          accessable, reliable and affordable renewable energy solutions for the whole society
        

List up to three typical examples of governance issues

          Governance structures with community initiatives
        
          Multiple roles by one party within the project (asset manager, shareholder, O&M party)
        
          decision making in projects with diversified share capital (multiple shareholders)
        

07.2. Additional information. [Optional]


INF 08. Types of ESG information considered in investment selection

08.1. Indicate what type of ESG information your organisation typically considers during your infrastructure investment selection process.

          ESG report initiated by internal staff on applying ESG to infrastructure
        

08.2. Additional information.


INF 09. ESG issues impact in selection process

09.1. Indicate if ESG issues impacted your infrastructure investment selection processes during the reporting year.

09.2. Indicate how ESG issues impacted your infrastructure investment deal structuring processes during the reporting year.

09.3. Additional information.

Declined one opportunity becease of oil pipelines directly on site

In the transaction documentatoin conditions subsequent where stiputlated to follow up on environmental issues which were indicated by our technical advisor. 


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