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PRI reporting framework 2020

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Pre-Investment (Selection)

INF 05. Incorporating ESG issues when selecting investments

05.1. Indicate if your organisation typically incorporates ESG issues when selecting infrastructure investments.

05.2. Describe your organisation`s approach to incorporating ESG issues in infrastructure investment selection.

We have established a direct investment ESG Due Diligence framework.  Depending on the type of asset we will identify and undertake due diligence on the material ESG factors.  For example a toll road vs a gas pipeline - the focus will depend on the underlying asset.

The framework sets out key ESG risks to be considered and we request information to review to be able to undertake our ESG assessment.

Our team then prepare an ESG report detailing any risks or opportunities to be considered.

We consider whether the company has the following:

Environmental Issues
Environmental/sustainability Policy
Environmental Management System
Regular Environmental impact audits undertaken
Environmental breaches of underlying asset/controversies
Toxic Emissions and waste management, including recycling
Carbon Emissions
Physical Climate Risk
Supply chain risk from water scarcity, extreme weather events
Energy/water Efficiency
Renewable energy targets
Biodiversity and Land Use

Labour rights
Labour management and Human Rights in the supply chain including Modern Slavery 
Worker Safety
Worker Safety in Supply Chain
Product Safety
Human Capital Development
Social initiatives
Social Licence to operate/community engagement

Bribery & Corruption
Management remuneration
CEO have had direct equity in business?
Controlling shareholder
Board Structure
Audit Practices
Code of conduct

We consider materiality based on the sector and industry of the underlying investment.  Depending on the investment will determine material ESG issues. 

INF 06. ESG advice and research when selecting investments (Private)

INF 07. Examples of ESG issues in investment selection process

07.1. Indicate which E, S and/or G issues are typically considered by your organisation in the investment selection process and list up to three typical examples per issue.

ESG issues

List up to three typical examples of environmental issues

          Carbon pricing or environmental regulation
          Environmental breaches of underlying asset
          Renewable energy targets

List up to three typical examples of social issues

          Worker Safety & in supply chain
          Social Licence to operate/community engagement
          Labour rights  & in supply chain

List up to three typical examples of governance issues

          Bribery and corruption
          Accounting & audit practices

07.2. Additional information. [Optional]

INF 08. Types of ESG information considered in investment selection

08.1. Indicate what type of ESG information your organisation typically considers during your infrastructure investment selection process.

08.2. Additional information.

INF 09. ESG issues impact in selection process (Private)