The implementation of Access’ responsible investment process is supported by two senior members of the Investor Relations’ team including a Partner. The Investor Relations’ team has led the work on the SRI approach, by formalizing and implementing the process (side letters for underlying fund managers (“GPs”), questionnaires, ESG data collection, production of annual reports to investors, specific requests from investors), and by strengthening Access’ responsible investment practices since 2008. The Investor Relations’ team ensures adherence to the ESG/SRI policy and oversees the implementation of the ESG strategy across portfolios.
The Investor Relations’ team is responsible for implementing the integration of ESG into investment processes and internal management. Its duties include:
- Defining Access’ commitment towards ESG issues (CSR policy, ESG process, questionnaires etc.);
- Attributing an ESG score to each GP;
- Engaging continuous dialogue with external consultants and advisors;
- Formalizing the ESG processes both at investment and firm levels;
- Collecting the annual ESG data from the GPs or directly from portfolio companies/assets;
- Measuring the evolution of ESG performance at company/asset level;
- Identifying potential ESG issues within the portfolio;
- Producing annual ESG reports to Access’ Investors.
Socially Responsible Investment practices require regular interaction between the Investor Relations’ team and the Investment team. Work sessions are organized regularly on specific subjects such as the review of the due diligence questionnaire as the assessment of the GP ESG commitment, and an ESG committee which monitors Access’ ESG commitment and defines new projects is set up once to twice a year.
Access has been very active in promoting awareness, acceptance and implementation of the ESG principles within its GP community.
In addition, by being systematically represented at the advisory committees of the underlying funds, Access can:
- 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