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Glennmont Partners

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          Head of Asset Management
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

As Glennmont Partners invests solely in clean energy projects to a certain extent the entire team is concerned with implementing responsible investment every day, broadly speaking, irrespective of whether the individual involved is in the investment or asset management team, they will be working to ensure that:

Prior to making an investment: Glennmont commissions third party environmental due diligence reports on the state of the asset in question. These surveys, while focussed on the physical asset itself, also take into account the environment surrounding the asset, and the possible impact of said asset. Glennmont also assesses the existing community engagement of the project and in some cases plans additional community activities that can be added.

During the holding period of the investment, Glennmont carries out a variety of ESG-relevant measures. These include: establishing health and safety standards; managing the impact of the operations on the environment; measuring and reporting the reduction of carbon dioxide emissions due to the assets; and supporting local community activities.

It should be noted that ESG at Glennmont is primarily the responsibility of the CEO and Managing Partner, Joost Bergsma, and Head of Asset Management and Chief Risk Officer, Jordi Francesch. Joost Bergsma and Jordi Francesch are both members of the Asset Management Committee, which helps to ensure that ESG aspects are tracked throughout the investment lifecycle, as well as the Sustainability Committee.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

1 Number

07.4. Additional information. [Optional]

The CEO and Managing Partner and CRO and Head of Asset Management, both of whom are responsible for ESG, as outlined above, are supported by a recently established Sustainability Committee, whose members consist of Joost Bergsma and Jordi Francesch, but also Sara Sancho, an Engineer, and Alfred Perry, an Analyst, as well as two rotating members  drawn from amongst the wider team to support the wider team's engagement and interest in sustainability (the rotating members serve for 6 months). The Sustainability Committee meets on a monthly basis to discuss and plan ESG activities at asset and management company level, and reports on a semi-annual basis to the four Partners of Glennmont Partners through a Steering Committee.

With the oversight of the Sustainability Committee, Alfred Perry produces Glennmont's ESG reports. Responsibility for incorporating ESG factors is however also the responsibility of the wider team, for instance deal teams are required when presenting investment proposals to the Investment Committee to cover any environmental issues, and other ESG aspects such as job creation.


SG 07 CC. Climate-issues roles and responsibilities (Private)


SG 08. RI in performance management, reward and/or personal development (Private)


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