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Ambienta SGR SpA

PRI reporting framework 2019

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage (Private)


SG 01 CC. Climate risk

01.6 CC. Indicate the climate-related risks and opportunities that have been identified and factored into the investment strategies and products, within the organisation's investment time horizon.

Ever since its foundation in 2007, Ambienta aimed to invest in companies which improve resource efficiency and/or pollution control. The idea behind this thesis was that companies which produced a better effect on the environment embraced a long term sustainability trend. This trend can be directly related to the need for our society to improve resource efficiency and reduce pollution. It follows naturally the mitigation of climate-related risks. After 12 years of investing in this space, Ambienta can finally demonstrate how this thesis also produced superior returns for our investors.

Within this context, climate-related risks and opportunities have always been deeply entrenched into Ambienta's investment philosophy.

01.7 CC. Indicate whether the organisation has assessed the likelihood and impact of these climate risks?

01.8 CC. Indicate the associated timescales linked to these risks and opportunities.

The timescale linked to climate-related risks is related to the typical investment holding period of private equity. It is typically between 3 to 5 years.

01.9 CC. Indicate whether the organisation publicly supports the TCFD?

01.10 CC. Indicate whether there is an organisation-wide strategy in place to identify and manage material climate-related risks and opportunities.

Describe

Starting from 2019, after raising our third fund Ambienta III (€635 million), Ambienta decided to assess and manage the carbon footprint of its portfolio companies. This process has been implemented in addition to Ambienta's proprietary Environmental Impact Analysis of portfolio companies, which has been operational since 2016.

The idea behind the implementation of this new process is to first assess how our companies are positioned with relations to climate change, then to implement strategic initiatives to improve their resilience, reduce their environmental impact, and better position them against climate-related risks.

1.12 CC. Indicate the documents and/or communications the organisation uses to publish TCFD disclosures.

specify

          Annual publication of our ESG & Environmental Impact Report
        

SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Our policy manages possible conflict of interest arising from 9 different types of situation. 8 refers to investments or divestment situations where: 1) counterparts are directly or indirectly managed by Related Parties and/or Holding Companies and/or Portfolio Companies 2) Related Parties and/or Holding Companies and/or Portfolio Companies holds 10% or more voting rights 3) counterparts have significant business relations with Related Parties and/or Holding Companies and/or Portfolio Companies 4) counterparts have debt towards Related Parties and/or Holding Companies and/or Portfolio Companies 5) investment are made alongside Related Parties and/or Holding Companies and/or Portfolio Companies 6) alongside companies controlled by  Related Parties and/or Holding Companies and/or Portfolio Companies 7) target companies have signed contracts above 1mln€ with ourselves or Related Parties and/or Holding Companies and/or Portfolio Companies 8) our regulatory bodies recognise a conflict of interest. The last one refer to any contracts or mandate assigned to Related Parties and/or Holding Companies and/or Portfolio Companies. The whole process has been developed in accordance with Bank of Italy prescriptions and is reflected in all Board of Directors minutes. Bank of Italy inspections, which have been always positive for Ambienta, focus on the policy and its effective implementation.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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