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Alinda Capital Partners Ltd.

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]

Alinda’s Investment Process Memorandum includes written processes, policies and procedures designed to address the management of ESG issues.  Evaluation of ESG issues is an integral part of Alinda’s due diligence review of a targeted investment and ESG matters are subject to rigorous analyses on a number of dimensions during our due diligence process.  Areas of particular relevance include the targeted investment’s record in:

  • Observing and supporting human rights
  • Not being complicit in infringements of human rights
  • Respecting the freedom of association and trade union membership
  • Banning all forms of forced labor
  • Banning discrimination at work and in occupations
  • Encouraging and supporting a diverse workforce
  • Strong health and safety record with a target of zero accidents/incidents
  • Strong environmental policies and performance, with a target of zero incidents
  • Observance of relevant standards regarding environmental matters
  • Combating all forms of extortion and bribery

Evaluation and Management of ESG and Sustainability Matters

In mid-2013, Alinda enhanced its ESG approach by implementing two policies that form the core of our ESG efforts and has updated them periodically. In 2020, Alinda supplemented its Environmental, Health and Safety Policy to recognize the impact of climate change as a key consideration throughout the investment cycle and state its commitment to reduce investment in fossil fuel related businesses and undertake to reduce the carbon footprint of its existing investments where feasible. These policies guide Alinda’s investment professionals and consultants in the evaluation and management of ESG/Sustainability matters:

  • Environmental, Health & Safety Policy (the “EHS Policy”)
  • Social Responsibility and Corporate Governance Policy (the “Corporate Governance Policy”)

The EHS Policy and the Corporate Governance Policy are together referred to as the “ESG Policies”.  The ESG Policies are attached as Exhibits to Alinda’s Investment Process Memorandum and copies are attached to this description.  Short summaries of each policy follows.

EHS Policy

The EHS Policy describes the purposes of the policy and Alinda’s objectives with regard to the evaluation and management of environmental, health and safety impacts of investment targets and portfolio companies.  Alinda expects portfolio companies to:

  • conduct their business activities in a responsible manner that manages and protects against recognized hazards, and to safeguard the health and safety of their employees, customers, suppliers, partners and the community
  • actively encourage and support portfolio companies’ efforts to reduce GHG emissions as a critical component of our collective responsibility to mitigate climate change
  • comply with all applicable environmental, health and safety regulations and laws of the jurisdictions in which they operate
  • implement programs policies and objectives tailored to their respective operations
  • solicit feedback from our limited partners regarding their responsibility investing and sustainability preferences and incorporate that into our investment process as appropriate
  • The policy establishes guidelines for the evaluation of the ESG matters relating to a targeted acquisition.  With respect to an acquisition, the Alinda transaction team will evaluate, among other things:
  • the target’s performance against applicable environmental laws and regulations
  • the impact of the target’s operations on the environment
  • the target’s performance against applicable occupational safety and health regulations

In the case of the on-going portfolio management function following the acquisition of a portfolio company, the policy sets out requirements for a comprehensive review of the ESG program of the acquired company with the results of the review being incorporated into Alinda’s 100-day plan process for the portfolio company.  If Alinda acquires control of the portfolio company, the policy requires that the portfolio company develop and implement an appropriate EHS policy tailored to its business and operation. Finally, the policy establishes reporting requirements calling for periodic and annual reports.

Corporate Governance Policy

The Corporate Governance Policy describes the purposes of the policy and Alinda’s objectives with regard to the evaluation and management of social responsibility, corporate governance, and ethical business practices matters associated with targets and portfolio companies.  Alinda requires that portfolio companies conduct their business activities ethically and in a manner that positively reflects a responsible corporate citizen that is actively engaged with the communities in which it operates.  Portfolio Companies are expected to comply with all applicable laws, regulations, and rules regarding the proper conduct of business for its operations and by its employees. The policy establishes guidelines for the evaluation of the corporate governance matters relating to a targeted acquisition. 

Reporting

Alinda’s Portfolio Management team prepares and presents to the Investment Committee of each Alinda Fund an annual report that detail the ESG performance of the Fund for the given reporting period.  The annual report draws on the respective annual report submitted by each portfolio company and addresses, on a portfolio-wide basis, a broad variety of ESG-related matters as described above.


INF 04. Formal commitments to RI (Private)


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