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PRI reporting framework 2020

Export Public Responses

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Infrastructure Monitoring and Operations

INF 12. Proportion of assets with ESG performance targets

12.1. Indicate the proportion of infrastructure assets for which your organisation and/or operators included ESG performance in investment monitoring during the reporting year.

 (in terms of number of infrastructure assets)

12.2. Indicate ESG issues for which your organisation, and/or operators, typically sets and monitors targets (KPIs or similar) and provide examples per issue.

List up to three example targets per issue

          Effective energy consumption (for example, for buildings, kwh/m²/an)
          Induced and avoided carbon emissions
          Impacts on biodiversity: - monitoring and follow-up of local species, particularly birds and bats t, Ground footprint (number of km²), fauna circulation (tunnels and corridors)

List up to three example targets per issue

          Number of jobs created, thanks to the project, over the long term
          Health safety: accidents on-site (for employees/maintenance staff, for users, for surrounding people)
          Indoor air quality it relevant according to the infrastructure type.

List up to three example targets per issue

          Treatment of conflicts of interest
          Balance of the board
          Business ethics (existence or not of controversies, audit procedures, etc.)

12.3. Additional information. [Optional]

Our ESG analysis methodology is tailored to each category of project (solar, wind, rail transport, energy services, etc.) to better identify risks and opportunities arising from the key sustainability issues. The criteria disclosed above are only examples that can:

-Be relevant or not, in terms of Sustainability Opportunities, depending on the nature of the project. A mapping of sustainability opportunities, that crosses sectors with sustainability issues has been developed by our in-house RI Research team so as to identify compliant projects.
-Be weighted differently in the ESG risk review, depending on the social /  environmental externalities related to the project and existing levers for improvement.

This targeted ESG research approach enables a focus on relevant criteria and KPIs, which are monitored all along the project (some examples are provided in INF.12.2 above)

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

13.1. Indicate whether you track the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

13.2. Indicate the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

(in terms of number of infrastructure investees)

13.3. Describe how your organisation, and/or your operators, contribute to the infrastructure investees’ management of ESG issues. [Optional]

A majority of assets/project companies currently in our portfolio have an explicit sustainable development policy. Within the context of our Renewable Energy undertakings, infrastructure projects mainly defined according to the CSR policies put in place by the parent companies of corporate participating in a project (GDF Suez, Valorem, Holmen, etc.).

It is also worth noticing that most of the sectors in which we invest are inherently related to sustainable development issues and contribute to tackling environmental and/or social challenges (for further information, please refer to OO.INF.03).

INF 14. Type and frequency of reports received from investees

14.1. Indicate the type and frequency of reports you request and/or receive from infrastructure investees covering ESG issues.

Type of Reporting

Typical reporting frequency

          Meetings or calls with projects' operators

Typical reporting frequency

          Upon Mirova’s RI analysts’ request

14.2. Additional information.

Once the partnership contract has been signed, a monitoring process is set up to measure the project’s impact, by using information gathered from gap analysis and actions undertaken during the project, as well as from annual and punctual reports on the project.

It is also worth noting that our ESG assessment and monitoring process during the management phase includes meetings or calls with the projects’ operators in order to confirm or disprove the initial ESG assessment, and to encourage them to improve the ESG practices as part of our engagement approach