Our ESG framework is implemented through the investment process in three distinct phases, the pre-Transaction, Transaction and post-Transaction stage. The pre-Transaction stage involves the initial screening for ESG risk categorisation, application of ESG toolkit and scoping of ESG issues. The Transaction stage refers to the period of the investment process which is characterised by the Fund - to - counterparty negotiation, due diligence, legal drafting of agreements and technical implementation of an investment. This stage also identifies and scopes potential ESG action areas and ESG action plans. Finally, the post-Transaction stage focuses on monitoring and reporting to the Ninety One investment committee as well as the client. The ESG team has full management of this process and applies it to all their investments.