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AMP Capital Investors

PRI reporting framework 2019

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Outputs and outcomes

INF 17. ESG issues affected financial/ESG performance

17.1. Indicate whether your organisation measures how your approach to responsible investment in Infrastructure investments has affected financial and/or ESG performance.

Describe the impact on:
Impact
Funds' financial performance
Describe the impact on:
Impact
Funds' ESG performance

17.2. Describe how you are able to determine these outcomes.

AMP Capital's Global Infrastructure Team is accountable for making responsible investments which impact the portfolios financial and ESG performance. Responsible investments in new assets at the right price, active management of existing assets for improved business performance, and a focus on sustainability increases an assets market value (independent valuation of each asset) which when coupled with strategic exits, delivers stronger overall performance of the funds.


INF 18. Examples of ESG issues that affected your infrastructure investments

18.1. Provide examples of ESG issues that affected your infrastructure investments during the reporting year.

ESG issue
          Environment
        
Types of infrastructure affected
          Social Infrastructure
        
Impact (or potential impact) on investment

Investment Monitoring - Potential energy issues

Activities undertaken to influence the investment and the outcomes

An external environment consultant was engaged to undertake a review of the Building management system to identify any energy risks or inefficiencies that can be rectified or implemented to optimise the maintenance and lifecycle needs.

ESG issue
          Governance
        
Types of infrastructure affected
          Social infrastructure
        
Impact (or potential impact) on investment

Investment Monitoring - Audit

Activities undertaken to influence the investment and the outcomes

The Safe Drinking Water Act audit was completed with no major findings. The external auditor noted the high compliance over the past five years of audits.

ESG issue
          Environment
        
Types of infrastructure affected
          Transport
        
Impact (or potential impact) on investment

Investment Monitoring - Potential risk noise pollution

Activities undertaken to influence the investment and the outcomes

Airlines are now committing to early introduction of new generation of quieter “neo-type” aircraft which will reduce the airport’s noise impact.

ESG issue
          Social
        
Types of infrastructure affected
          Transport
        
Impact (or potential impact) on investment

Investment Monitoring - Customer Service

Activities undertaken to influence the investment and the outcomes

The management has budgeted GBP 2 million to review and improve customer service at the airport facilities.

ESG issue
          Environment
        
Types of infrastructure affected
          Transport
        
Impact (or potential impact) on investment

Investment Monitoring - Potential environmental, WH&S and compliance issues.

Activities undertaken to influence the investment and the outcomes

The company completed an aluminium composite panel (ACP) cladding assessment for all facades within the airport boundaries. The final report with remedial actions was actioned immediately by the management.

18.2. Additional information.

Transparency and influence of ESG performance is typically achieved through board representation, CEO and senior management dialogue, strong relationships and contractual arrangements with third-party operators.

Where infrastructure asset managers are responsible for managing third-party service delivery, monitoring and driving improved ESG performance is an important aspect of the role. Monitoring of ESG related activities is facilitated through standardised reporting, site visits / inspections by the AMP Capital investment team and regular forums with stakeholders to progress ESG initiatives for each of the investments.


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