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Alberta Investment Management Corporation

PRI reporting framework 2020

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Post-investment (monitoring and active ownership)

Overview

INF 11. ESG issues in post-investment activities

11.1. Indicate whether your organisation and/or operators consider ESG issues in post-investment activities relating to your infrastructure assets.

11.2. Indicate how your organisation, and/or operators, considers ESG issues in the following post-investment activities relating to your infrastructure assets.

          Post-investment bench marking analysis to compare the ESG performance of our investments with other global infrastructure peers through the GRESB survey
        

11.3. Describe how your organisation, and/or operators, considers ESG issues in post-investment activities related to your infrastructure investments. [Optional]

AIMCo takes an active role in company governance and ESG risk mitigation in assets with majority and significant minority ownerships. AIMCo appoints investment team members as well as external board directors who attend board meetings and vote on key operational items such as annual budgets, business plans, risk mitigation plans, new capital expenditure projects and targets for management incentives. Where possible, AIMCo also sends board observers to attend board meetings and observe the discussions at the board level to effectively monitor and manage the asset.

The AIMCo team reviews board materials (and other information provided to shareholders) from the invested company and organizes calls with AIMCo board representatives to discuss key issues including ESG issues. Board materials usually include routine updates on key ESG ratios and major stakeholder issues.

When a shareholder looks for an exit on its ownerships of an asset, AIMCo initiates communications with the other shareholders where necessary to make the best decisions for its clients.


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

          Property damage/Environmental (ex. damage to company, public or private property resulting in monetary costs)
        
          Noise impact (ex. decibel level)
        
          
        

List up to three example targets per issue

          Worker safety (ex. lost workday case rate)
        
          Contractor safety (ex. injury rates)
        
          Customer Satisfaction
        

List up to three example targets per issue

          Director independence (ex. number or percentage of independent directors)
        
          Minority shareholders' rights (ex. shareholder rights plan in place)
        
          
        

12.3. Additional information. [Optional]

Infrastructure & Timber Sustainability Guidelines effective as of January 11, 2018


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]

Monthly or quarterly board meetings (or board committee meetings) review ESG KPIs and discuss key ESG issues (e.g. safety incidents, community engagements, major stakeholder issues, regulatory updates and governance issues). We provide guidance, oversight and feedback to the management on these issues. In 2019, a third-party service provider was contracted to help select responding assets on the GRESB Survey. The third-party worked directly with the assets to provide guidance to navigate the survey and to identify gaps and areas of potential improvement on the asset’s ESG management and processes.


INF 14. Type and frequency of reports received from investees (Private)


Infrastructure Maintenance

INF 15. Proportion of maintenance projects where ESG issues were considered

15.1. Indicate the proportion of active infrastructure maintenance projects where ESG issues have been considered.

(in terms of number of active maintenance projects)

15.2. Describe your approach to ESG considerations for infrastructure maintenance projects. [Optional]

We don't have information on the percentage of ESG considerations for infrastructure maintenance because those are usually addressed at the operational level by each asset company.

However, our portfolio assets are invited to participate in the GRESB global infrastructure sustainability survey and disclose ESG information voluntarily. 


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