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Outputs and outcomes

INF 17. ESG issues affected financial/ESG performance (Private)


INF 18. Examples of ESG issues that affected your infrastructure investments

18.1. Provide examples of ESG issues that affected your infrastructure investments during the reporting year.

ESG issue
          Water stress
        
Types of infrastructure affected
          Agriculture
        
Impact (or potential impact) on investment

Due to the drought conditions in the area where we had agriculture assets that required a continuous supply of water we needed to ensure we had that supply in  place.  The inability to have water would lead to reduced production and therefore loss of revenue. 

Activities undertaken to influence the investment and the outcomes

We invested in building dams on the properties to ensure consitent supply. 

ESG issue
          GRESB Certification - ES&G profile
        
Types of infrastructure affected
          Social
        
Impact (or potential impact) on investment

We had invested in an asset that was reporting under GRESB and was underperforming it’s peers. 

Activities undertaken to influence the investment and the outcomes

We had management make recommendations on what initiatives could be introduced into the organisation across the GRESB requirements to improve our score.  We ended up being gaining the 2nd highest score in our peer group.

ESG issue
          Animal Welfare
        
Types of infrastructure affected
          Agriculture
        
Impact (or potential impact) on investment

Not being RSCPA accredited across our assets could lead to reputational risk as well as animal-welfare risks.

Activities undertaken to influence the investment and the outcomes

All infrastructure assets were assessed against the RSPCA standards and where assets fell short – we invested capital to bring those sheds up to standard to gain the RSPCS accreditation.

ESG issue
          Climate Change
        
Types of infrastructure affected
          Agriculture
        
Impact (or potential impact) on investment

Loss of crop due to severe and inconsistent weather events

Activities undertaken to influence the investment and the outcomes

We’ve invested additional capex at our almond orchards in frost fans to mitigate the impact of climate change whereby min-max temperatures have become more extreme. Our lessee - SHV’s latest results indicate that the largest contributor to their growth in EBITDA year on year is due to these frost fans

18.2. Additional information.


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