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AMP Capital Investors

PRI reporting framework 2019

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Selection, appointment and monitoring of third-party infrastructure operators

INF 10. ESG issues in selection, appointment and monitoring of third-party operators

10.1. Indicate if your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party operators.

10.2. Indicate your organisation includes ESG issues in your selection, appointment and/or monitoring of third-party operators.

10.3. Provide a brief description of your organisation’s selection, appointment and monitoring of third-party operators. [Optional]

AMP Capital seeks to appoint well-established third-party operators that demonstrate appropriate knowledge and best practice across a broad range of ESG issues. Their credentials are assessed in the pre-investment phase and closely monitored by AMP Capital to mitigate risk to equity investor interests.

A range of governance and workplace issues can have a significant impact on the safe and efficient operation of an asset. These include corporate affairs and transparency, environmental compliance, workforce dynamics, employment conditions, work health and safety (WH&S) and subcontractor management. Accordingly, we closely monitor both governance issues and contractual arrangements as lead indicators of asset performance. AMP Capital's active management approach includes:

•           Standardised monthly reporting to the Board on each infrastructure asset, providing greater consistency, transparency and governance over ESG issues

•           Quarterly reviews with service providers, government counter-parties and other relevant stakeholders to ensure early identification of issues

•           Annual 'stakeholder workshops' to reinforce a successful partnering model, clear accountabilities and strong working relationships between project counter-parties, and

•           Annual verification of service provider accreditations (e.g. ISO14000) to assure robust governance and risk management processes.

 

10.4. Describe how your third-party operators contribute to the management of ESG issues for your infrastructure investments. [Optional]

While most infrastructure assets generally have their own board and in-house management team for corporate and operational issues, some smaller social infrastructure investments rely heavily on third-party operators to provide operational support, maintenance and facilities management. In these cases, monitoring and driving the ESG performance of third-party operators is an important aspect of the AMP Capital Asset Manager's role. We pursue this with standardised reporting, site visits / inspections by the AMP Capital investment team and regular forums with stakeholders to progress ESG activities


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