Access has redefined its ESG process through the following actions:
- Total overhaul of its ESG due diligence and annual questionnaires and a sector-focused questionnaire for its infrastructure activity.
- Implementation of a web-based ESG platform.
- Promotion among its General Partner community of structured ESG tool and practices.
Access’ initiatives to promote responsible investments include:
Under due diligence, the Investment team conducts a thorough ESG analysis. An SRI questionnaire is sent to each General Partner to find out whether and how they take ESG risks and opportunities into account in their decision-making process.
Each fund manager / co-lead investor is provided with Access’ own score reflecting the level of integration of ESG criteria and the companies’ actions and new initiatives with regards to ESG issues. Access recognises three levels for assessment:
- Level1: the fund manager / co-lead investor fully meets responsible investment principles
- Level 2: the fund manager / co-lead investor essentially meets responsible investment principles
- Level 3: the fund manager / co-lead investor barely meets responsible investment principles
Further, in the legal documentation, Access seeks a written engagement from the underlying fund manager to use reasonable best efforts to incorporate ESG criteria in the management of its portfolio companies and to report annually on the ESG performance and progress in a portfolio company.
Lifetime of the underlying funds
Board seat at Advisory Committees: systematic presence of Access’ investment Partners and Directors at the Advisory Committees of the investee funds: Access maintains an ongoing dialogue with portfolio companies on their ESG initiatives, Access has the opportunity to:
- Question on how the GP has integrated ESG issues into their investment decisions
- Ensure adequate governance structure is in place
- Encourage GPs to report on ESG performance of underlying companies
GP meetings: every year, Access gathers its funds managers to exchange views on the current state of the market. On this occasion, Access reiterates its commitment to UNPRI and encourages GPs to report on the application of their own ESG principles.