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AGRICULTURE CAPITAL (ACM Management Company, LLC)

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

The widely published mission of Agriculture Capital is to develop a regenerative food and agriculture system that produces better food at scale and delivers healthy returns to investors while making a difference in our communities.

We have organized around a common purpose, namely TO GROW ACCESS TO BETTER, HEALTHIER FOOD.

Our two funds invest in farmland and food processing assets with the goal to build customer-driven, appropriately scaled, vertically integrated and regenerative operations that support the planet and the communities in which we work

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Agriculture Capital invests in permanent crop farmland and synergistic midstream assets to create vertically integrated, regeneratively managed farming enterprises that grow, pack and market high-value foods.

We are highly engaged owner-operators and leverage our team’s expertise to deliver improvements that protect environmental health and create economic value.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk

01.6 CC. Indicate whether your organisation has identified transition and physical climate-related risks and opportunities and factored this into the investment strategies and products, within the organisation’s investment time horizon.

Describe the identified transition and physical climate-related risks and opportunities and how they have been factored into the investment strategies/products.

We report quarterly on water access and wildlife risk exposure to our investors. We also expand upon this reporting in our annual impact report, which further addresses climate impacts to our business related to wild pollinator health and overall biodiversity.

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

Describe the associated timescales linked to these risks and opportunities.

We have addressed risks to wild pollinator health in our reporting and agree that those risks can and do occur to some degree in every crop cycle. On water scarcity, we model the potential for drought conditions in our operating geographies based on historical conditions and viewed, at minimum, over ten-year horizons. We assume in the US West and Australia that wildfire events can and do happen annually but that our assets are located in regions of relatively low risk.

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

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

Describe

We have an organizational statement on ESG risk and material climate-related risks and opportunities are addressed and described above.

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

specify

          Immediately pursued supporting TCFD after last year's UNPRI transparency report filing and confirmed on April 17, 2019
        

SG 02. Publicly available RI policy or guidance documents

 

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

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

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02.3. Additional information [Optional].

We have a published statement on ESG risk.

At Agriculture Culture (AC), we strongly believe that the key elements of our ESG approach (as outlined in our ESG policy and elsewhere in our materials) also describe our fundamental framework for addressing risk. We believe sustainable methods of food production can dramatically reduce our exposure to the following critical business risks at a global scale:

Climate disruption
Water scarcity
Other environmental factors
Chemical use and crop protectants
Labor
Food safety


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.

AC has an extensive code of ethics that requires annual compliance from all team members. The code of ethics includes a published policy on conflicts of interest that addresses general conflicts, personal conflicts, and potential scenarios where the AC entity itself could be perceived as having conflicts.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within investee entities.

04.2. Describe your process on managing incidents

We own all of our assets; hence, any relevant incidents are elevated and addressed in the course of day-to-day, week-to-week, and month-to-month operational oversight activities. Managers of AC's portfolio companies routinely report any adverse incidents to AC that involve the wellbeing of employees or other individuals on-site, food safety concerns or physical destruction to assets.


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