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J.P. Morgan Asset Management

PRI reporting framework 2020

Export Public Responses

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Pre-Investment (Selection)

INF 05. Incorporating ESG issues when selecting investments

05.1. Indicate if your organisation typically incorporates ESG issues when selecting infrastructure investments.

05.2. Describe your organisation`s approach to incorporating ESG issues in infrastructure investment selection.

Risks and opportunities are reviewed throughout gue diligence including based on the Fund's ESG due diligence questionnaire which is completed as a part of every new acquisition, in response to due diligence reports from third party advisors, and as the team prepares the Investment Committee ("IC") memo which will be presented to the Committee and independent board for approval. In addition, a cybersecurity due diligence and anti-corruption questionnaire are completed as part of each new acquisition.

Our investment process, including due diligence procedures and investment decision making, integrates ESG factors for analysis and consideration, including, as appropriate, governance framework, environmental impacts of and on the company, cybersecurity and data protection, health and safety, corruption, catastrophe resilience, climate risks and opportunities (physical and transition), supply chain management, stakeholder engagement and community impact reviews during preliminary screening and in-depth diligence. The process also includes a useful life vs physical life analysis. Identified risks and opportunities are incorporated into the IC Memo, discussed during IC meetings and then addressed in the underwriting and integration plans if an investment is undertaken.

INF 06. ESG advice and research when selecting investments (Private)

INF 07. Examples of ESG issues in investment selection process

07.1. Indicate which E, S and/or G issues are typically considered by your organisation in the investment selection process and list up to three typical examples per issue.

ESG issues

List up to three typical examples of environmental issues

          Environmental permit compliance and any past breaches or environmental violations
          Effect on assets from climate change – both transition and physical risk (extreme weather events, rising sea levels, warming trends, disaster preparation and recovery, resilience plans)
          Effect of asset on environment (air/light/noise pollution, habitat and biodiversity protection, waste generation, water consumption, GHG emissions)

List up to three typical examples of social issues

          Health and safety approach for all stakeholders
          Stakeholder engagement communication plans, employee engagement and satisfaction
          Gender/diversity and culture/values at investee companies and boards

List up to three typical examples of governance issues

          Corporate Governance framework, processes and committees
          Risk management and anti-Corruption policies/compliance
          Compensation alignment

07.2. Additional information. [Optional]

INF 08. Types of ESG information considered in investment selection (Private)

INF 09. ESG issues impact in selection process (Private)