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Impax Asset Management

PRI reporting framework 2019

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Overview

PE 01. Description of approach to RI

01.1. Provide a brief overview of your organisation’s approach to responsible investment in private equity.

All of our Private Equity investments are in renewable energy infrastructure and are thoroughly analysed from an ESG perspective, driven by Impax's ESG policy and formal environmental impact assessments, permitting procedures for potential stakeholder impacts and engagements as well as addressing any material governance weaknesses prior to investing. Investments are managed to meet or exceed environmental permit targets and post-build assessments on permit compliance are performed.

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

 All investments from the private equity funds to date have been in Europe and so adhere to EU Directives.

 

 


PE 02. Investment guidelines and RI

02.1. Indicate whether your organisation’s investment activities are guided by a responsible investment policy / follow responsible investment guidelines.

02.2. Describe how your organisation outlines expectations on staff and portfolio companies’ approach towards ESG issues in investment activities.

The assessment and mitigation of environmental, social and governance (ESG) risks are an integral and necessary consideration of our due diligence processes for each investment and go beyond simply complying with the applicable environmental laws and other permitting procedures. Our Investment Committee must approve all potential investments against our ESG-parameters and policy and any breach prevents us from making an investment.

The Impax ESG policy can be found here:

https://www.impaxam.com/sites/default/files/Impax_ESG_Policy_2019_0.pdf


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