3i's Infrastructure business follows the same approach to Responsible Investment and managing ESG issues as the Private Equity business. Please refer to the Private Equity module for further details.
There is one exception to this. In 2013, 3i took over management responsibility for two portfolios of Public Private Partnership ("PPP") investments from Barclays Bank plc. A different approach is taken to portfolio monitoring of these investments due to the large number of PPP projects (over 100) and the fact that many of the underlying projects are very similar in nature (e.g. school buildings, hospitals, roads etc.) Portfolio monitoring is therefore carried out at a portfolio level rather than on an individual project-by-project basis. ESG issues across the PPP portfolio are reviewed and summarised on a quarterly basis, and any more significant issues are monitored in more detail on an asset by asset basis.
New PPP investments follow the procedures set out in the Private Equity module.
The effective implementation of the 3i RI Policy by the Infrastructure business is monitored internally by the 3i Group Risk Committee, and is subject to review by 3i's Internal Audit team.