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Foresight Group LLP

PRI reporting framework 2019

You are in Direct - Infrastructure » Post-investment (monitoring and active ownership) » Infrastructure Monitoring and Operations

Infrastructure Monitoring and Operations

INF 12. Proportion of assets with ESG performance targets

12.1. Indicate the proportion of infrastructure assets for which your organisation and/or operators included ESG performance in investment monitoring during the reporting year.

 (in terms of number of infrastructure assets)

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

List up to three example targets per issue

          Plant emissions in relation to environmental permits, including COX and NOX
          Reduction in waste diverted to landfill, measured in tonnes of waste
          CO2 emissions saved by an individual asset or across a portfolio

List up to three example targets per issue

          Job creation – measured in full time employment
          Quality of local environment – preserving or improving quality
          Odour complaints from local communities – proactively responding and reducing odour impact

List up to three example targets per issue

          Stakeholder communication (e.g. distributing safety bulletins)
          Non-discrimination policies
          Board representation – enforcing responsible ownership and management

12.3. Additional information. [Optional]

INF 13. Proportion of portfolio companies with ESG/sustainability policy

13.1. Indicate whether you track the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

13.2. Indicate the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

(in terms of number of infrastructure investees)

13.3. Describe how your organisation, and/or your operators, contribute to the infrastructure investees’ management of ESG issues. [Optional]

Foresight has a significant number of its investors with specific ESG/sustainability-related policies. On signing an LPA, Foresight agrees the reporting format, content and frequency required for investors' management information systems and regular meetings to report on results and activities, including ESG considerations.

Where investors have had specific frameworks, such as the former Green Investment Bank and European Investment Bank, Foresight ensured that these requirements were embedded within the investment and portfolio management teams and reporting processes. In certain circumstances, Foresight has opted to include its own controls which contain more onerous tests than those required by a fund's investment mandate.

An example of this was regarding a requirement to report a range of ESG related performance measures, including renewable generation in MWh, tonnages of waste diverted from landfill, CO2 savings and the number of employees. In this instance, Foresight commissioned an assessment of the environmental impact of the proposed transaction using the Environment Agency's lifecycle assessment tool - Waste and Resources Assessment Tool for the Environment ("WRATE Report"). This enabled the Group to provide information that was as accurate as possible. To maintain a level of transparency and professionalism, this information was distributed to all investors within that fund, regardless of whether they had formal frameworks in place.

Foresight's investor relations team is committed to report to all infrastructure investors on a quarterly basis. With Health, Safety and Environment as a top consideration for the Group, all reports include a mandatory section updating investors on any significant HSE related issues.

INF 14. Type and frequency of reports received from investees (Private)