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Macquarie Asset Management

PRI reporting framework 2019

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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.

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

ESG issues are assessed and managed throughout the investment life cycle. All potential portfolio company investments are reviewed for ESG risks and opportunities as an integral part of the investment due diligence process. MIRA uses internal expertise and third party advisors, as appropriate, to develop a post-acquisition transition plan for each investment which includes measures to address identified ESG issues.

Senior MIRA employees are appointed as non-executive directors to the boards of the portfolio companies in which MIRA-managed funds invest. They aim to ensure that each portfolio company establishes and maintains its own risk management framework, which incorporates ESG issues and supporting policies and procedures, including measures set out in the transition plan.

The adopted framework must, at a minimum, be adequate to ensure compliance with relevant regulation and standards in the country and industry in which the portfolio company operates. It should support the business to achieve and promote ESG management practices and be appropriate to the level of ESG risk in that business.

Each portfolio company is expected to monitor its compliance with key ESG requirements, metrics and KPIs relevant for the specific business, sector and jurisdiction, resolving identified issues on a timely basis. It is also expected to report at least annually to its board and shareholders on developments.

MIRA, as a fund or asset manager also seeks to ensure:

  • immediate reporting of any serious health, safety and environmental incidents to the portfolio company CEO and board, and to MIRA’s asset management and risk teams; and
  • quarterly reporting and monitoring of general health, safety and environmental performance.

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