Since ESG considerations are embedded in our investment process, the first step is to gather information on the target company, its operations, and the market. This information comes from a variety of sources including the target itself, external financial and legal advisors, and resources within the firm based on our own business experience in that market and with that target.

As potential ESG issues are identified, they are raised with risk management and additional information is gathered for diligence. That can include discussions with legal counsel, financial advisors (including accountants) and/ or regulatory authorities, referral to our Sustainability Risk Management team under the Sustainable Business Risk assessment process, and further investigation by hiring specialist firms with knowledge of the specific issue and market under scrutiny.

The relevant Investment Committee memorandum contains an ESG risk assessment which summarises the key ESG risks and provides the Investment Committee with the necessary information to evaluate and consider the ESG aspects for each proposed new investment.