This report shows public data only. Is this your organisation? If so, login here to view your full report.

Impax Asset Management

PRI reporting framework 2019

Export Public Responses
Pdf-img

You are in Direct – Private Equity » Post-investment (monitoring)

Post-investment (monitoring)

PE 09. Proportion of companies monitored on their ESG performance

09.1. Indicate whether your organisation incorporates ESG issues in investment monitoring of portfolio companies.

09.2. Indicate the proportion of portfolio companies where your organisation included ESG performance in investment monitoring during the reporting year.

 (in terms of total number of portfolio companies)

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

ESG issues

List up to three example targets of environmental issues

Example 1

          Our renewable energy investments (wind, solar and small-scale hydro) continue to comply with rigorous EU environmental permits. Environmental Impact Assessments prepared for each project pre-construction.
        

Example 2 (optional)

          Continued monitoring of noise, flora and fauna, water issues. Our deadline-monitoring systems part of management information packs ensuring consideration of these issues on regular basis.
        

Example 3 (optional)

          Waste management systems and health and safety are the responsibility of our local operations and maintenance teams who report regularly on any issues.
        

List up to three example targets of social issues

Example 1

          Continuing local stakeholder engagement, post-investment including subcontracting work to local counterparties. Local landowner’s interest aligned as they usually receive sales % generated from the plant.
        

Example 2 (optional)

          Continuing monitoring ensuring observation of applicable employment laws, H&S regulations when contractors are engaged. Teams of employees are contracted via monthly/annual reporting processes.
        

Example 3 (optional)

          Ensuring adequate insurance policies are in place to provide protection.
        

List up to three example targets of governance issues

Example 1

          Anti-money laundering checks, continuing monitoring of integrity and practices of our investment counter-parties. Policies established at subsidiary company levels, which are reviewed annually.
        

Example 2 (optional)

          Continuing monitoring of ownership and oversight of governance systems e.g. establishing and annually reviewing board charter protocols and control systems.
        

Example 3 (optional)

          
        

09.4. Additional information. [Optional]

We report on carbon avoidance from our on-going renewable energy private equity projects, as part of our Montreal Pledge disclosures.

Impax's latest renewable energy fund "NEF III" has been awarded the independently audited Novethic Energy and Ecological Transition for the Climate, (EETC), green label due to these three assessed pillars:

  • Pillar 1: Fund's objectives and methodologies for the selection of assets contributing to the energy and ecological transition.
  • Pillar 2: Consideration of ESG criteria in the construction and life of the portfolio
  • Pillar 3: Highlighting positive impact on energy and ecological transition

PE 10. Proportion of portfolio companies with sustainability policy

10.1. Indicate if your organisation tracks the proportion of your portfolio companies that have an ESG/sustainability-related policy (or similar guidelines).

10.2. Indicate what percentage of your portfolio companies has an ESG/sustainability policy (or similar guidelines).

(in terms of total number of portfolio companies)

10.3. Additional information. [Optional]

Most of our private equity investments are into projects, not operating companies per se, however all of our projects and investments need to obtain (and continue to be in compliance with) rigorous EU environmental permits and adhere to our ESG policy.

Impax's latest renewable energy fund "NEF III" has been awarded the independently audited Novethic Energy and Ecological Transition for the Climate, (EETC), green label due to these three assessed pillars:

  • Pillar 1: Fund's objectives and methodologies for the selection of assets contributing to the energy and ecological transition.
  • Pillar 2: Consideration of ESG criteria in the construction and life of the portfolio
  • Pillar 3: Highlighting positive impact on energy and ecological transition

 


PE 11. Actions taken by portfolio companies to incorporate ESG issues into operations

11.1. Indicate the types of actions taken by your portfolio companies to incorporate ESG issues into operations and what proportion of your portfolio companies have implemented these actions.

Types of actions taken by portfolio companies

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies
Implemented by percentage of portfolio companies

11.2. Describe how your organisation contributes to the portfolio companies’ resourcing and management of ESG issues.

ESG aspects are integral for the success of renewable energy infrastructure projects, in order to obtain and maintain the required permitting, therefore the entire investment team, including senior management are focused on these issues. Responsibility for the ongoing monitoring of permit requirements is outsourced to local teams with experts in these areas to ensure current best practice is maintained and they report monthly/ annually on performance. Management teams are responsible for developing business plans which include monitoring certain ESG issues.


PE 12. Type and frequency of reports received from portfolio companies

12.1. Indicate the type and frequency of reports you request and/or receive from portfolio companies covering ESG issues.

Type of reporting 

Typical reporting frequency 

12.2. Describe what level of reporting you require from portfolio companies, and indicate what percentage of your assets are covered by ESG reporting.[OPTIONAL]

Monthly reports are provided for portfolio assets which include details on (if relevant)

  • Development of environmental plans
  • Environmental monitoring
  • Environmental incidents or complaints
  • Health and safety issues
  • HR issues
  • Compliance

We also report annually on carbon avoidance from our on-going renewable energy private equity projects:

https://www.impaxam.com/sites/default/files/Impax_Impact_Environmental_Impact_Report-2018.pdf

 


PE 13. Disclosure of ESG issues in pre-exit

13.1. Indicate whether during the reporting year your organisation disclosed information on ESG issues to potential buyers prior to exit for private equity investments.

13.2. Apart from disclosure, describe how your organisation considers ESG issues at exit.

ESG aspects are integral for the success of renewable energy infrastructure projects, in order to obtain and maintain the required permitting, therefore these issues are crucial for potential buyers prior to exit. All regular reporting is provided to potential buyers.

 

13.3. Additional information.


Top