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Macquarie Asset Management

PRI reporting framework 2019

Export Public Responses

You are in Direct - Infrastructure » Overview


INF 01. Description of approach to RI

01.1. Provide a brief overview of your organisation’s approach to responsible investment in infrastructure where you have equity stakes.

The assessment and management of ESG risks and opportunities are embedded within MIRA’s investment decision-making approach and asset management frameworks. These are supported by centralised policies and processes applied during acquisition due diligence and ongoing asset management, and by the expertise of our asset management teams.  Many members of these teams have senior management experience in the industries in which the MIRA-managed funds’ portfolio companies operate.

MIRA’s risk management framework outlines the requirements for the identification and management of ESG issues in both investment due diligence and ongoing asset management. We place emphasis on ESG issues that are important and meaningful to each business and its employees, and the industry and community in which it operates.

Senior MIRA employees are appointed as non-executive directors to the boards of the portfolio companies. 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. This framework is typically approved by the portfolio company board, which then receives regular reports on performance against this risk management framework.

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.

INF 02. Responsible investment policy for infrastructure

02.1. Indicate if your organisation has a responsible investment policy for infrastructure.

02.2. Provide a URL if your policy is publicly available.

02.3. Additional information. [Optional]

MIRA operates within Macquarie Group’s Risk Management Framework, which represents a comprehensive suite of policies and procedures covering all aspects of risk management, including ESG. This Policy applies to all asset classes including Infrastructure.

In addition, MIRA has its own risk management policies (including an ESR policy) that reflect the investment, credit, liquidity, operational, legal and reputational risks specifically associated with infrastructure and real asset funds management operations, and each fund’s investments.

MIRA’s ESR policy is not publicly available, however, the broader Macquarie Group ESG approach, including a summary of Macquarie's ESR policy, is publicly available at the URL provided above.