We must ensure that all our companies always comply with environmental regulations. Whenever possible we seek to improve their environmental performance through investing in more environmentally efficient technological solutions and launching better products and services. In some instances, the whole investment case has been about financing a project that has a significant positive environmental impact, for instance wind farms, hazardous waste recycling facilities, producing heat from biofuel that didn't exist before etc. As a responsible investor, BaltCap asks their portfolio companies to complete a thorough ESG questionnaire every year. This is done in addition to its regular monitoring of the company as an active leading shareholder. In 2019, we started with a pilot project in our portfolio company EKJU with CO2 measurement which is one of the most relevant KPIs. As the pilot project was successful, BaltCap aims to start calculating portfolio-wide CO2 footprint to meet the demand of investors and improve the impact of the portfolio as the carbon-related issues are becoming more material financially too.