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INFRAVIA CAPITAL PARTNERS

PRI reporting framework 2019

You are in Direct - Infrastructure » Post-investment (monitoring and active ownership)

Post-investment (monitoring and active ownership)

Overview

INF 11. ESG issues in post-investment activities

11.1. Indicate whether your organisation and/or operators consider ESG issues in post-investment activities relating to your infrastructure assets.

11.2. Indicate how your organisation, and/or operators, considers ESG issues in the following post-investment activities relating to your infrastructure assets.

          Infrastructure are long term sustainable assets, which sustainability goes beyond the investment exit.
        

11.3. Describe how your organisation, and/or operators, considers ESG issues in post-investment activities related to your infrastructure investments. [Optional]

InfraVia Capital Partners Asset Manager and the Investment Manager both seat at the Board of portfolio companies. Operators may also hold a stake in the portfolio companies and seat the Board. InfraVia Capital Partners can require the Board and/or the management of the company to address ESG matters. ESG are discussed and monitored on the matters identified by the shareholders and the management companies. Specific corrective plan can be implemented at the operator level upon specific request from the Board members and/or the management of the company.


Infrastructure Monitoring and Operations

INF 12. Proportion of assets with ESG performance targets

12.1. Indicate the proportion of infrastructure assets for which your organisation and/or operators included ESG performance in investment monitoring during the reporting year.

 (in terms of number of infrastructure assets)

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

List up to three example targets per issue

          GWh produced from renewable energy.
        
          Reduction of CO2 emission.
        
          Recycling initiatives
        

List up to three example targets per issue

          Number of FTE and employment created.
        
          Health and safety, number of accidents.
        
          Engagement with local communities
        

List up to three example targets per issue

          Attendance to board meetings.
        
          Quarterly reporting, voting policy.
        
          Ad hoc reporting in case of issues : health and safety, quality.
        

12.3. Additional information. [Optional]


INF 13. Proportion of portfolio companies with ESG/sustainability policy

13.1. Indicate whether you track the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

13.2. Indicate the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

(in terms of number of infrastructure investees)

13.3. Describe how your organisation, and/or your operators, contribute to the infrastructure investees’ management of ESG issues. [Optional]

A number of portfolio companies have developed their own ESG policy and report ESG risk matrix to their Board.

Example for Aurora project : InfraVia has helped the company to enhance its quality management system aiming at unifying operational planning and ensure high quality standards. Aurora owns, operates and develops critical electricity networks for which extreme reliability is a pre-requisite. Customers demand the highest level of professionalism ensuring them with security of supply 24/7 365 days per year. Aurora follows a preventative and proactive quality maintenance policy to ensure a low level of failure. The quality maintenance policy emphasizes on health and safety, and the role of proactiveness to prolong the technical lifetime of the assets. The strategic objectives are to streamline everyday work and enhance customer transparency. Aurora’ largest environmental contribution is achieved through its focus on world-class distribution reliability as avoiding network disturbances minimizes process inefficiencies and pollution.

A number of portfolio companies do not have their own ESG policy as their activity does not require such policy. This is the case for most of renewable energy investments, for which environmental considerations are core to their activity. In other cases, the portfolio companies do not have their own ESG policy as they rely on the operator ESG policy. In all cases, all operators that InfraVia Capital Partners is working with have implemented ESG policies and sustainability reporting.


INF 14. Type and frequency of reports received from investees

14.1. Indicate the type and frequency of reports you request and/or receive from infrastructure investees covering ESG issues.

Type of Reporting

Typical reporting frequency

Typical reporting frequency

14.2. Additional information.

InfraVia Capital Partners requires its portfolio companies to provide information in order to build its ESG reporting for the Annual Reports. In 2018 InfraVia Capital Partners signed a partnership with Sirsa, a company specialized in ESG data monitoring through a digital reporting platform. All portfolio companies have answered a questionnaire of over hundred data points, allowing to collect, compare, monitor, analyze and consolidate extra-financial information across the portfolio. This enables InfraVia Capital Partners to share reliable, quality information with its ecosystem, and evaluate the progress and impacts of ESG actions carried out within the portfolio. In addition, on a rolling basis, InfraVia Capital Partners requires its portfolio companies (when applicable) to report ESG at Board meetings.


Infrastructure Maintenance

INF 15. Proportion of maintenance projects where ESG issues were considered

15.1. Indicate the proportion of active infrastructure maintenance projects where ESG issues have been considered.

(in terms of number of active maintenance projects)

15.2. Describe your approach to ESG considerations for infrastructure maintenance projects. [Optional]

InfraVia Capital Partners requires most of its portfolio companies to provide maintenance reporting at all board meetings. Some of the portfolio companies need to maintain adequate level of cash  (6 to 12 months on average) though Maintenance reserve Accounts in order to a guarantee proper maintenance program. Maintenance programs are performed in all assets. Proper and rigorous maintenance monitoring process  guarantee the sustainability of the asset.

Example for A8 project : A8 has been responsible since 2007 for the design, financing, construction, operation and maintenance of the A8 motorway section between Munich and Augsburg (52 km) (Bavaria - Germany) operated under a 30-year concession agreement.  This project is performed by a consortium of companies rolling out active environmental policies and implementing environmental good practices. The maintenance of the A8 highway is one of the key monitoring matters that concentrate more than 50% of the company resources. ESG are addressed in the maintenance program, such as noise reduction, road surfacing, water treatment, employment, training, etc …


Stakeholder engagement

INF 16. Proportion of stakeholders that were engaged with on ESG issues

16.1. Indicate which stakeholders your organisation, and/or operators, engaged with on ESG issues in relation to your infrastructure assets during the reporting year and what proportion of your investments they apply to.

Stakeholders engaged

Percentage of infrastructure assets these apply to

 (in terms of number of infrastructure assets)

Percentage of infrastructure assets these apply to

 (in terms of number of infrastructure assets)

16.2. Describe your approach to stakeholder engagements in relation to your infrastructure assets.

InfraVia Capital Partners engages in having not only an ESG approach with the operator but also with other shareholders, regulators and local communities.

Example for Aurora project : The Finnish Aurora owns, operates and develops critical electricity networks in Finland. Aurora’ operations are largely contributing to employment locally as the company employs hundreds of FTE’s every year through extensive subcontractor base. Taking care to improve local community safety is performed through a campaign targeting road safety for school children. In Tornio Aurora has provided traffic safety workbooks to local first-grade students for the past two years. The workbooks are used throughout primary school for learning traffic signs and rules in a fun way. Since 2015 Aurora has supported the arctic rescue helicopter Aslak, a privately funded initiative in Northern Finland, searching and rescuing in case of emergency in sparsely populated Lapland.


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