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J.P. Morgan Asset Management

PRI reporting framework 2020

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You are in Direct - Infrastructure » Post-investment (monitoring and active ownership)

投資後(モニタリングおよび積極的な保有)

概要

INF 11. ESG issues in post-investment activities

11.1. 組織のインフラ資産の投資後の活動に関連して、組織や事業者がESG問題を考慮しているかどうかを明示してください。

11.2. 組織のインフラ資産の投資後の以下の活動に関連して、組織や事業者がESG問題をどのように考慮しているかを明示してください。

          ESG matters are required to be considered by each board of directors at the investee companies pursuant to our mandatory governance calendars
        

11.3. 組織のインフラ投資の投資後の活動において組織や事業者がESG問題をどのように考慮しているかを説明してください。 [任意]

Through our active asset management practices in working with the investee company boards and executive management teams, we engage investee companies in their approach to ESG issues.

  • We require transparent reporting by our investee companies on ESG and initiatives on an ad-hoc, quarterly and annual basis. This includes involvement of auditors and consultants to help check the accuracy of our reporting of elements of the primary environmental metrics.
  • We work with our investee companies to address relevant emerging ESG issues (for example: climate change risks and opportunities, resilience initiatives, supply chain considerations, culture, employee engagement and diversity & inclusion).
  • We also strive to share and adopt a best practice approach in the practical implementation of decision making across our investee companies. The team hosts Forums and Summits that bring together specific groups where ESG is an agenda item (for example: CEOs, Chairperson, Independent Directors, General Counsels or individuals who work in specific sectors); in addition, in 2019, an ESG Leadership Group was created to share best practices across the portfolio and includes one Leader (investee partner) from each investee partner.
  • We onboard new investee companies and boards with ESG trainings/workshops and encourage continual improvement in ESG performance.
  • Executive team compensation alignment includes consideration of ESG matters.

インフラのモニタリングおよび運営

INF 12. Proportion of assets with ESG performance targets

12.1. 報告年度のインフラ資産の中で、組織や事業者が投資のモニタリングにESG実績を組み入れた割合を記載してください。

(インフラ資産の件数ベース)

12.2. 組織や事業者が通常目標(KPIなど)を設定し、さらにモニタリングしているESG問題を記載し、問題別に例を挙げてください。

問題別に目標の具体例を3つまで挙げてください

          Water companies set KPIs for water conservation
        
          Agreed Upon Procedures (AUP) engagements with each investee company’s local auditor to provide accuracy and consistency of environmental data, including GHG emissions and energy usage
        
          Companies report on environmental violations
        

問題別に目標の具体例を3つまで挙げてください

          Health and safety of employees, contractors and customers goals set and monitored
        
          Employee engagement programs, surveys and implementation of feedback
        
          Diversity and inclusion trainings and current statistics for each company
        

問題別に目標の具体例を3つまで挙げてください

          Adoption of board calendars that include distinct ESG topics, benchmarking results and areas of improvement
        
          Cybersecurity trainings for board members and tracking of cybersecurity incidents
        
          Anticorruption policies adopted and trainings implemented
        

12.3. 補足情報 [任意]

Direct Infrastructure discloses information regarding ESG in its Annual and Quarterly Reports and webcasts to investors. The Annual Report includes a sustainability report with annual ESG metrics and qualitative examples and case studies. The Quarterly report includes ESG updates which may include environmental responses and updates on recent storm or disaster recovery, community or philanthropic initiatives, governance and board member updates, trainings or workshop updates, employee engagement initiatives and any form of incident or violation reporting. In addition, the strategy and investee companies participate in annual benchmarking (GRESB) and those results are shared in detail with investors. In 2019, an ESG Leadership Group was created to share best practices across the portfolio – the group includes a member from each investee company and members from the Direct Infrastructure strategy.


INF 13. Proportion of portfolio companies with ESG/sustainability policy

13.1. 組織がESG/サステナビリティに関連するポリシー(または同様のガイドライン)を有するインフラ投資先の割合を追跡しているかどうかを記載してください。

13.2. 組織がESG/サステナビリティに関連するポリシー(または同様のガイドライン)を有するインフラ投資先の割合を記載してください。

(インフラ投資先の件数ベース)

13.3. 組織や事業者がインフラ投資先のESG問題の管理にどのように貢献しているかを説明してください。 [任意]

Through our active asset management practices in working with the investee company boards and executive management teams, we engage each investee company in their approach to ESG issues, including the adoption of ESG related policies, including standalone ESG policies, health & safety policies, stakeholder engagement policies, catastrophe and resilience policies or whistleblowing polices, etc. We work with our investee companies regularly to address relevant emerging ESG issues, like climate change risks and disaster recovery communication plans. We also use the GRESB assessment to formally engage with each company to complete the assessment and review results, share best practices across the portfolio, discuss areas of improvement as it relates to ESG policies, process and implementation and serve as a guide for continuous improvement for material ESG drivers. In addition, in 2019, an ESG Leadership Group was created to share best practices across the portfolio – the group includes a member from each investee company and members from the Direct Infrastructure strategy. Quarterly and ad hoc calls are held to discuss different topics including culture, health and safety, energy transition, materiality and specific investee company ESG initiatives.


INF 14. Type and frequency of reports received from investees (Private)


インフラの保守整備

INF 15. Proportion of maintenance projects where ESG issues were considered

15.1. ESG問題が考慮されている実施中のインフラ保守整備プロジェクトの割合を示してください。

(実施中の保守整備プロジェクトの件数ベース)

15.2. インフラ保守整備プロジェクトにESGを検討するアプローチを説明してください。[任意]

We believe that ESG factors are relevant to the performance of specific infrastructure investments, in addition to their relevance to the effective functioning of markets and economic systems as a whole. More broadly, when ESG factors are considered and complement traditional fundamental analysis, they can contribute to the development of a more sustainable, stable and well-governed portfolio of infrastructure investments. As such, ESG assessment is important to the design and ongoing decision-making process for our infrastructure investments. Accordingly, we incorporate these factors into our investment and portfolio management processes (inclusive of maintenance projects that will take place throughout the year), including through consideration of appropriate ESG factors in contractor and other supply chain aspects of maintenance projects and applicable stakeholder engagement before and during projects. Some considerations in respect of maintenance projects include modern slavery statement, storm hardening, waste management, health & safety and habitat impact.


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