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Foresight Group LLP

PRI reporting framework 2020

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Fundraising of infrastructure funds

INF 03. Fund placement documents and RI

03.1. Indicate if your most recent fund placement documents (private placement memorandums (PPMs) or similar) refer to responsible investment aspects of your organisation.

03.2. Indicate how your fund placement documents (PPMs or similar) refer to the following responsible investment aspects of your organisation:

03.3. Describe how your organisation refers to responsible investment for infrastructure funds in fund placement documents (PPMs or similar). [Optional]

As evidence of its commitment to sustainability, Foresight designates a specific section in its PPMs to describe its investment process and demonstrate its approach to ESG management. This approach is incorporated throughout all stages of an investment, spanning pre-investment due diligence, post-investment monitoring and investor reporting. This ensures a consistent methodology is adopted and implemented across all of Foresight’s investment activities.

As well as a general overview of the investment approach, the PPM provides more granular detail of at what stage and how sustainability considerations are evaluated. Foresight's potential investments are firstly screened by the investment team and assessed using a non-exhaustive appraisal criteria, which includes analysing the ESG characteristics of the asset. Relevant opportunities and risks are then presented to the Investment Committee for consideration. The outcome of this stage, if successful, is the issuance of an Initial Investment Approval and full due diligence is subsequently completed. Foresight's rigorous due diligence process includes analysis of key factors such as project contracts, planning permissions, environmental permits, feedstock and key contractor experience. Investments will only gain approval following a formal assessment by the Investment Committee, which considers whether these potential investments are consistent with the Fund's investment policy, comply with the allocation policy, are sufficiently ESG compliant, risks are appropriately mitigated and the returns properly reflect the risk profile of the asset.

Once integrated into the portfolio, assets are actively managed. Foresight continually seeks opportunities to enhance sustainability practices, as well as identifying and mitigating any potentially negative sustainability impacts. Formal Investment Committee meetings are held on a monthly basis for portfolio monitoring purposes or, if required, more frequently for investment decisions. Informal discussions take place frequently between the Investment Team and Investment Committee members throughout the investment process and post-investment. The Investment Committee seeks to ensure that high quality assets, counterparties and equipment are involved, with the objective to meet return expectations whilst ensuring appropriate portfolio diversification and risk management/ESG compliance is achieved.


INF 04. Formal commitments to RI (Private)


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