Aberdeen Standard Investments is dedicated to helping investors around the world reach their desired investment goals and broaden their financial horizons.
We provide expertise across a breadth of markets, asset classes and investment approaches. Approximately 1,000 dedicated investment professionals are located globally, close to our clients and the markets where we invest. Additionally, 500 client specialists work closely with investors and advisors to understand our clients’ needs and deliver world class investment solutions.
Today, we manage €629.9bn (£557.1bn/$735.5bn) of assets on behalf of governments, pension funds, insurers, companies, charities, foundations and individuals across 80 countries (as at 30 June 2018).
As a responsible global investor, we leverage our scale and market leadership to raise standards in both the companies and industries in which we invest, and drive best practice across the asset management industry. We take our stewardship and environmental, social and governance (ESG) roles seriously. As we are active long-term responsible investors, stewardship and ESG are fundamental components of our investment philosophy and process.
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.
Abode Impact is tackling private housing inequality in the UK with commercial solutions. Our solutions are designed to be both commercially viable and socially beneficial.
There is an acute lack of wheelchair accessible homes for rent to meet demand. This failure is strongest in the Private Rented Sector (PRS), with 1 in 3 people disabled people living in unsuitable accommodation in this tenure. (European Human Rights Commission, 2018). Wheelchair users are not typically able to rent accessible homes in the PRS. 91% of the 448 wheelchair user households surveyed by Abode Impact had experienced barriers to accessing the PRS.
To tackle this, Abode Impact is launching the UK’s first accessible housing fund for London dedicated to purchasing wheelchair accessible homes for private rent. It will purchase new-build residential property adapted for wheelchair users, initially let through Registered Providers of social housing, in identified locations close to accessible public transport throughout London.
Abode Impact believes it can demonstrate that wheelchair users with accessible housing needs can be an important PRS demographic.
By living in an accessible home of their choice, wheelchair users will have significantly improved mental, physical and financial wellbeing. These benefits come from greater independence, stronger social cohesion with family, friends and community and the likelihood of being more likely to gain employment.
Abode Impact changed its name from Community Sponsors Homes in August 2018.
Allia C&C, part of the Allia group, supports a range of organisations whose core purpose is to transform lives, communities and the environment. With extensive experience across different sectors – particularly housing, care and education – we help ensure the optimal funding solution is achieved to deliver more impact, whether that’s a bank loan, bond or private placement.
We also have strong connections with ethical investors from across the market, including high street banks, retail investors pension funds and institutional investors – offering them access to, and expertise in, socially responsible investments.
So we’re uniquely able to align high social impact businesses with investors who not only seek a financial return but want to see their money do good in society.
Amundi has been a signatory of the PRI since 2006 and responsible investment has become one of the pillars of our development strategy. Dedicated governance, internal resources, active involvement in collaborative initiatives and an AFNOR certified SRI approach are just some of the ways we strive to advance the field of responsible investment.
A team of 20 specialists ensures ESG analysis of more than 5,000 issuers, conducts an active engagement policy, and promotes these topics amongst investors and collective initiatives.
In addition, almost 60 experts (corporate governance, quantitative research, SRI managers and products specialists) are mobilised around environmental, social and governance (ESG) issues.
We are convinced that consideration of ESG criteria, combined with an ongoing dialogue with issuers, consolidates financial performance. Our commitment is reflected, in particular, by the integration of ESG factors across its management strategies.
Our ESG analysis, which relies on the expertise of 8 extra-financial data providers and an internal rating tool, covers more than 5,000 issuers. The analysis results in a global extra-financial rating for the issuer on a scale from A (highest score) to G (lowest score).
AXA Investment Managers (AXA IM) is an active, long-term, global, multi-asset investor. We work with our clients today to provide the solutions they need to help secure a better tomorrow for their investments, while creating a positive change for the world in which we all live.
With fundamental research at the core of our process, our investment professionals seek out and develop the most efficient and robust sources of alpha across world markets, marrying innovation and risk management in a bid to deliver long-term, value for clients.
AXA IM has a long history of innovation and, as a part of the broader AXA group, we are attuned to thinking long term about both risk and return. This combination makes us adept at mitigating tomorrow’s challenges and taking advantage of the opportunities that accompany them.
As stewards of our clients’ assets, our primary goal is to help them preserve and grow their wealth. We believe that an important part of achieving this is investing responsibly. This is why we incorporate environmental, social and governance considerations into our investment decisions and offer clients a full spectrum of responsible and impact investing tools.
Over two decades, we have become one of the largest asset managers in Europe, entrusted with £646 billion (€735bn) in assets as of 30 June 2017. Our 2,400 staff serve over 5,000 clients in 62 countries around the world.
Baillie Gifford is an independent investment management partnership founded in 1908. Over a century’s experience of investing in broadly the same manner means our firm is well suited to identifying unique businesses that can provide long term sustainable growth and make a positive impact on society.
As such, an impact investing team, Positive Change, was established. The team invest in exceptional companies that address societal challenges, rather than screening out inferior ones. These societal challenges include the lack of basic infrastructures and services, resource constraints and degradation, rising inequality, and persistent poverty. The team believe that companies focused on solving these challenges should see rising demand for their products and services and are naturally growth companies. By concentrating on a subset of companies that enjoy sustainable competitive advantages and are run by committed management teams, the Positive Change team believe that investors should be able to achieve attractive investment returns over the long term while contributing towards a more sustainable and inclusive world for future generations.
Patience and perseverance are required to invest sustainably. Positive change is delivered over years not months, so an ability to look beyond next quarter’s earnings release for operational growth and positive societal impact is essential.
Barings is a $310+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Reflecting our commitment to best serving our fiduciary obligations to our clients and to incorporating ESG issues into our investment decision-making process,
Barings LLC is a signatory to the United Nations-supported Principles for Responsible Investment ("PRI") initiative. To guide our ESG investment process, we have formed an ESG working group that comprises representatives from each of the firm’s investment areas as well as from our legal, compliance, sales and risk management teams.
Barings is committed to making a difference in the communities where our employees live and work , and we demonstrate that commitment through partnerships with a number of civic, philanthropic and nonprofit initiatives. We actively support numerous charitable organizations worldwide, through both monetary donations and employee volunteerism. Barings has taken part in initiatives such as the Catalytic Finance Initiative, been a participant in the collation of inclusive capitalism’s Embankment Project and is an active supporter of the Paris Climate Agreement.
*As at 30 September 2018
Bates Wells was the first law firm in the UK to be granted ‘B-Corp’ status, reflecting the firm’s commitment to purposeful business. In 2018, Bates Wells set up a dedicated cross-departmental practice group of experts who can provide a unique blend of legal, impact, advisory and compliance expertise to businesses and individuals involved in impact investing.
Our lawyers can provide a wide variety of expertise to impact oriented businesses – from real estate expertise on the value of sustainable workplaces or to transactional advice on making an impactful investment. Alongside legal expertise, our in-house Compliance team also helps socially responsible, FCA-regulated businesses to flourish. Beyond our legal and compliance expertise, our Impact & Advisory team works with businesses to embed purpose in their strategy, management and to measure their impact; our team recently authored a ground-breaking study on the value of social tenancy for the benefit of the social housing sector, central government and local authorities.
Impact investment is important for the future and our society; Bates Wells aims to continue being at the heart of the Impact Economy movement, through its support of innovative, sustainable and impactful business.
Big Issue Invest extends The Big Issue’s mission by financing the growth of sustainable social enterprises and charities across the UK. Big Issue Invest offers loans and investment from £20,000 to £3 million. Since launching in 2005, we have invested in over 330 organisations, all of which have positively influenced the lives of people across the UK.
We are also bringing the mainstream to social investment with the UK Social Bond Fund, in partnership with Columbia Threadneedle, and the UK Equity Impact – Employment Opportunities Fund, in collaboration with Aberdeen Standard Investments. Big Issue Invest is also helping to pave the way for 3.4 million social housing tenants to potentially improve their credit, by partnering with Experian on The Rental Exchange. The capital raised by Big Issue Invest comes from mainly private sources and not from sales of the magazine and Big Issue Invest pays any dividends generated by our investments to our parent company, The Big Issue Group.
Created by social entrepreneurs, for social entrepreneurs, Big Issue Invest is the world’s first ‘Social Merchant Bank’ and a steadfast champion of social enterprise.
Big Society Capital’s aim is to improve the lives of people in the UK by connecting investment to charities and social enterprises that are creating social change. We do this by bringing together our investment capital, our expertise and our network of partners. To date, we have helped establish £1bn of social investment vehicles alongside co-investors.
Bridges Fund Management (formerly Bridges Ventures) is a specialist fund manager focused exclusively on sustainable and impact investment, with offices in London, New York and San Francisco. Since 2002, the firm has raised over £900m to invest in SMEs, properties and social sector organisations that are helping to tackle some of society’s biggest challenges, with a focus on four themes: health & wellbeing, education & skills, sustainable living and underserved markets.
Brightlight provides bespoke investment consulting and management services to institutional clients across the private, philanthropic and government sectors, bringing together a team of leading impact and responsible investment professionals, experienced across multiple asset classes, geographies and impact sectors.
Brightlight Group currently operates two arms of business. The first, Brightlight Impact Advisory, provides training, strategic advice, research and asset consulting services. The second, Brightlight Investment Management, collaboratively structures, builds and manages impact investment products to bridge the gap between client demand and supply of institutional grade impact investments.
Cameron Hume is a fixed income asset management business, specialising in providing investment services to institutional clients. The company is a signatory to the UN Principles of Responsible Investment and is a participant in the United Nations Global Compact. We work closely with our clients to assist them in investing their fixed income allocations in a responsible manner.
We believe that responsible investing has two aspects. The first is the selection and monitoring of investments that aim to have a positive impact on the environmental and social issues that are of concern to our clients. The second is to integrate ESG exposures and risks factors with traditional financial analysis to provide a more comprehensive view of corporate and sovereign issuers’ investment potential.
Underpinning our approach to responsible investing is a commitment to present our clients with an overview of their portfolios’ ESG exposures and an assessment of the environmental and social impact of their investments. In keeping with the spirit of the UN Principles of Responsible Investment, this overview is based on independent, third party, opinions rather those of our own analysts.
Capital Dynamics is a global private assets manager focused on mid-market private equity and private credit, and clean energy infrastructure. Founded in 1999 and headquartered in Zug, Switzerland, Capital Dynamics employes approximately 150 professionals globally across 11 offices, overseeing more than USD 16 billion in assets under management and advisement.
Capital Dynamics (the Firm) has a dedicated Responsible Investment (RI) Committee that continuously seeks to improve performance and reduce risk for its clients, while providing a closer alignment of objectives amongst stakeholders and society. This is largely achieved using a rigorous RI scoring system that evaluates transactions at the time of investment and annually thereafter. The Firm has also been an early signatory of the UN-supported Principles for Responsible Investment.
Over the years, Capital Dynamics’ investments across its multi-strategy platform have had a direct and positive impact on the Firm’s activities. The private equity practice employs best practice towards environmental, social and governance factors for its portfolio companies. The clean energy practice – one of the largest global renewable investors – has provided significant environmental benefits through its investments – over 2 million metric tons of greenhouse gas offset each year, equivalent to powering 200,000 homes and saving 2.8 million barrels of oil otherwise consumed.
CBRE Global Investors is one of the world’s leading real asset investment managers with $104.2 billion in assets under management.
Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.
We believe the best performance comes from putting our clients first. Our local market intelligence, proprietary research and active management enable our experienced professionals to deliver world-class investment results and exceptional client service.
As part of CBRE Group, the premier real estate services platform, we also offer our clients our competitive advantage with an enriched local footprint and market knowledge and access to best-in-class services.
The built environment has a significant impact on the global environment and is at the nexus of many of today’s most important issues, including land use, resource depletion, climate change, transportation, affordable housing and workplace health.
We therefore believe that we have a responsibility to incorporate and demonstrate environmental, social and governance (ESG) best practices in all of our corporate and investment management activities.
Our commitment to ESG within our company and responsible investing initiatives can create shared advantages by enhancing returns, mitigating risk and improving the long-term value of real assets for our clients.
A leading global asset management group, Columbia Threadneedle Investments provides a range of actively managed investment strategies and solutions for individuals, pension funds and corporations. We manage $495BN / £366BN in AUM and have a presence in over 18 markets globally. We strive to deliver the investment outcomes that our clients expect when they trust us with their money, through an investment approach that is team-based, performance-driven and risk-aware. We have an established, dedicated and well-resourced responsible investment team, providing investment solutions that allow our clients to invest according to their values and to achieve social outcomes. Our award winning social investment funds take a balanced approach to achieve social outcomes, financial return and liquidity. *
*AUM includes the combined assets under management of the Columbia and Threadneedle group of companies as at 31 December 2017. Source: Ameriprise Financial.
Earth Capital UK Ltd (‘Earth Capital’) is the investment manager for the Nobel Sustainability Growth Fund (‘NSGF’) and the UK partner of the Nobel Sustainability Trust®. Earth Capital manages and advises sustainable private equity and infrastructure funds in the UK. The Earth Capital team has invested 4 previous funds together, and the team has a 30 year sustainable investment track record in private equity.
The Nobel family were early pioneers in socially responsible business, and we work in partnership with their endowment the Nobel Sustainability Trust®.
We are marketing the Nobel Sustainability Growth Fund to institutional investors looking to allocate to impact and ESG themes in private equity. We are building a portfolio of 10-12 UK sustainable businesses targeting key themes of the Sustainable Revolution which will drive disruptive change through the global economy over the next 20 years. Cornerstone commitment has been secured from the family office of Stephen Lansdown and the Monaco Constitutional Reserve Fund.
Our impact private equity strategy uses our unique Earth Dividend tool measuring impact across 5 dimensions of ESG in our private markets investments. Investments are measured across Natural Resource Consumption, Ecosystem Services, Pollution, Social and Economic Contribution, and Society and Governance.
Eaton Vance is a leading global asset manager with a strong commitment to responsible investing.
A signatory to the UN Principles for Responsible Investing (UN PRI), Eaton Vance has an uncompromising commitment to integrity and excellence. The firm seeks to provide investors with consistent performance, top-quality service and value-added strategies across a range of investment disciplines. In managing client portfolios, the firm adheres to established investment disciplines and balances the pursuit of return with the careful management of portfolio risk.
In 2016, Eaton Vance acquired the assets of the impact-investing firm Calvert Investment Management to form a new investment subsidiary: Calvert Research and Management (“Calvert”).
A recognised leader in responsible investing, Calvert is one of the founding signatories of the UN PRI. Calvert also helped to launch the Sustainability Accounting Standards Board (SASB) and last year helped found the SASB Alliance, which seeks to standardise disclosure for responsible investing.
Calvert seeks superior investment performance through integrated ESG research with an emphasis on company engagement and rigorous measurement of non-financial factors to demonstrate positive global environmental and societal impact. It provides measurable and reportable impact metrics on many of the portfolios it manages.
“Impact reporting” has been made possible by the development of a range of metrics in areas such as green tech, human rights, greenhouse gas intensity and water stress aimed at quantifying how business activity affects the environment, society and corporate governance.
Today, Calvert is one of the largest and most diversified managers of responsible investments across actively and passively managed equity, fixed income and asset allocation strategies.
EQ Investors (EQ) is a chartered financial planning and employee benefits firm. We offer a full range of life planning and financial advisory services for individuals, families, trustees, attorneys, directors and business owners.
At EQ we have a strong sense of being a member of a wider community. We are proud to be one of the first UK companies to be awarded B Corporation status, an internationally recognised standard for companies that believe in business as a force for good. Our Positive Impact Portfolios are a unique proposition for clients who care about how and where their money is invested. Established in 2012, the portfolios are designed to meet the growing investor appetite for an investment approach which not only delivers an attractive return but is also committed to making a positive contribution to society or the environment.
Fidelity International provides world class investment solutions and retirement expertise to institutions, individuals and their advisers - to help our clients build better futures for themselves and generations to come. As a private company, we think generationally and invest for the long term. Helping clients to save for retirement and other long-term investing objectives has been at the core of our business for nearly 50 years.
We are dedicated to achieving the best possible risk-adjusted returns for our clients. We believe that integrating sustainability across everything we do as a company can help our clients achieve a better future. In that regard, high standards of corporate social responsibility in ESG issues make good business sense and contribute to the long-term potential of companies. Our analysts have responsibility for analysing the ESG performance of the companies in which we invest, working closely with a dedicated team of ESG specialists.
Fidelity has been signatory to the PRI since 2012. We have been rated as an industry leader in ESG integration by the PRI, scoring A+ in every category in 2018 and have outperformed the median for the last four years.
At Finance for Sustainability, we work on big ideas that connect new forms of investment to social issues in the UK. We do this by working in partnership with others to identify gaps in the provision of finance and creating new funds, private investment products or seeding new advisory firms to work on solving the complex social and environmental issues others are afraid to work on. Finance for Sustainability is a not-for-profit, every penny we make in profits is reinvested in the Group, both expanding and strengthening existing operations or launching and seeding new ventures. Our Group Companies are either ‘not-for-profit’ or ‘for profit social sector’ businesses, meaning we have a mission lock and no less than 51% of profits are reinvested in that mission each and every year. Across the FFS Group we manage or advise on £43m of Social and Environmental Impact Funds, with more in the process of being created.
Our Group Companies:
Environmental Finance is a social enterprise that works across a wide variety of the conservation, natural and built asset sectors. Environmental Finance create, and partner with others who are creating innovative, investable projects. These projects are specifically structured to deliver quality returns for investors, local communities and the environment at large.
Sporting Assets is social enterprise that helps develop sustainable sports enterprises, by taking ownership of facilities, developing new ones and by helping to create or diversify revenue streams.
ArtsVentures is a social enterprise that helps develop sustainable and resilient arts enterprises, by supporting them to make the most of their assets.
Being a good global corporate citizen is central to our mission to be a premier global investment management organisation. We understand this not only affects our business, but also impacts our reputation with investors, customers, and employees.
We believe that responsible private capital can create “win-win” outcomes for both investors and the community. As such we see impact investing as a natural strategy to deploy within our social infrastructure investment strategy. For example, renovations that directly improve the utility of a space for tenants and visitors can both improve the quality of services being provided and increase the value of the physical asset. We can also create local partnerships that enhance the experience of stakeholders. For example, working with a school to have students volunteer time at an elderly care facility can create a more positive experience for the elderly, thereby increasing the value of that facility to the community. Likewise, making energy efficient upgrades to buildings can reduce service costs while also reducing greenhouse gas emissions.
We believe that investing in social infrastructure with a focus on impact can not only yield market-rate returns, it can also create financial resiliency that improves financial results.
Funding Circle is the leading small business loan platform in the UK, US, Germany and the Netherlands. As of 30 September 2018, investors have lent over £5.6 billion to more than 56,000 businesses. In 2017, Funding Circle loans helped to create and sustain more than 75,000 jobs, and contributed £3.9 billion to the economies of its four markets.
Funding Circle uses its cutting-edge technology, proprietary credit models and sophisticated data analytics to create an attractive and convenient proposition to historically underserved small businesses, whilst also providing attractive risk-adjusted returns to investors.
Funding Circle institutional investors not only gain access to a granular, diversified, high yielding and short duration asset class that was previously held exclusively on bank balance sheets; they will also be making a real and measurable impact on local economies.
GCM Grosvenor invests on behalf of clients who seek allocations to alternative investments, such as private equity, hedge funds, real estate and infrastructure. With approximately $50 billion in assets under management, we are one of the world’s largest and most diversified independent alternative asset management firms.
GCM Grosvenor is committed to responsible investment (RI) and to environmental, social and corporate governance (ESG) issues across our alternative investment platform. We view ESG issues as key elements of investment return, volatility and risk mitigation, and believe the consideration of such issues is an important aspect of our fiduciary responsibility to our clients. We promote sustainable and responsible investing by incorporating key ESG considerations into our business management, investment analysis, due diligence and portfolio construction.
The Firm has RI policies in place and considers ESG issues in its investment process to the extent it believes such issues might be reasonably expected to have a material impact on investment performance. In connection with underlying fund investments, GCM Grosvenor’s investment due diligence typically includes a review of the Investment Manager’s RI policies and its implementation thereof, among other things. Furthermore, GCM Grosvenor periodically requests underlying managers to provide updated RI-related information.
Incorporated in 1857, Gresham House is an alternative asset manager providing funds, direct investments and tailored investment solutions including co-investment across a range of highly differentiated investment strategies which include strategic public and private equity, timber, renewable energy, housing and infrastructure. The highly experienced investment team is led by Chief Executive Tony Dalwood (ex-CEO of SVG Advisers (formerly Schroder Ventures (London) Limited).
Gresham House recently launched a new UK focused investment strategy that bridges the gap between investors’ investment goals and the need for longer-term investment into important, government supported UK sectors, namely housing and infrastructure, whilst aiming to deliver a positive ESG impact.
This investment approach provides investors with the ability to invest in social and infrastructure investment initiatives (the ‘building blocks’ for supporting UK economic activity) as well as renewable energy projects. The deal-by-deal co-investment structure will allow investors to increase their allocation to underlying community-based transactions or sections of specific interest so that they make a positive social impact whilst maintaining prudent financial control. One of the objectives is to “partner” with local authorities and local government pension schemes to fulfil both financial, social returns, and potentially to support local area objectives.
The strategy already has the backing of two Local Government Pension Schemes and is designed for institutional investors including local authority and corporate pension funds, endowments and family offices to fulfil both long-term financial and social returns whilst having a positive ESG impact.
Our strategy is part of a newly formed Long-Term Investment Solutions Platform, which was established to deploy long-term or ‘patient’ capital while providing an opportunity for co-investment.
Hamilton Lane is a global private markets investment management firm providing innovative solutions to sophisticated investors across the globe. Hamilton Lane is headquartered in Philadelphia employing 350+ people in 15 offices around the world. With approximately $469 billion under management and supervision*, the firm offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customised basis.
Hamilton Lane believes that Environmental, Social and Governance (ESG) factors are an important driver of long-term investment returns and risk mitigation for our clients that can help generate financial as well as meaningful ancillary benefits that are crucial for the advancement of societies globally. To that end, the firm has an ESG Policy Statement and a Responsible Investment Committee, established in 2012, with active participation at the highest levels. The Responsible Investment Committee provides direction on the firm-wide ESG efforts, and is focused on implementing thoughtful ESG practices into our investment and monitoring processes. The Committee also educates and encourages clients and investment partners about the value of adopting ESG policies.
Hamilton Lane also has a long history of collaboration with PRI having been a signatory since 2008 and as a strong advocate of responsible investing, the firm was asked by PRI to be part of an industry wide team to create a standardised ESG questionnaire that ensures material ESG factors are integrated throughout the investment cycle.
*As of December 31, 2018
Jupiter was founded in 1985 with the aspiration of delivering investment performance through active fund management. More than thirty years later, our adherence to the same principle has earned us a reputation as a successful asset manager of equity portfolios, as well as fixed income, multi-asset and absolute return strategies.
Jupiter’s investment approach revolves around one concept: we seek to deliver outperformance over the medium to long term. Alongside an active and unconstrained approach to investment we recognise the importance of environmental, social and governance (ESG) criteria. Acting upon our fiduciary role as a responsible asset manager we encourage our investment experts to be the best possible stewards of clients’ assets. We seek high standards of corporate governance from the companies in which we invest, are signatories to the UN’s Principles of Responsible Investment (PRI) and the UK Stewardship Code. We also have in-house sustainability and stewardship committees, which include the CIO, members of the board and dedicated governance and sustainability specialists.
ESG is a critical component of our investment philosophy. Our 275 investment professionals globally work together to generate best-in-class research, analysis, and industry insights. Each individual is responsible for identifying and sharing ESG risks and opportunities in their area of expertise and incorporating them into their investment processes. Our Co-Heads of Sustainable Investing and ESG work closely with our analysts to continue to advance our long-standing efforts to integrate ESG considerations into our research process and portfolio management capabilities across the business. Being integrated within our research teams allows them to work closely with our investment professionals and focus on ways in which we can optimally address our clients’ ESG-related needs.
Lazard is a signatory to, and a member of, several organisations that promote responsible investing and consideration of ESG issues. We are signatories to the United Nations-supported Principles for Responsible Investment (PRI), the UK Stewardship Code, and Japan’s Stewardship Code. We are also members of the International Corporate Governance Network (ICGN), Pensions and Lifetime Savings Association (PLSA), International Accounting Standards Board (IASB) Investors in Financial Reporting programme, the UK Women in Finance Charter, and Institutional Investors Group for Climate Change (IIGCC). In 2019, Lazard joined the advisory board of the Chief Executives for Corporate Purpose’s (CECP) Strategic Investor Initiative. In addition, one of our investment professionals serves on the PRI Fixed Income Advisory Committee.
Since 1848, Lazard has remained a trusted advisor to governments, financial institutions, public and private pension schemes, financial advisors, and individuals around the world. We operate from 22 cities across 16 countries and manage over £151 billion in assets globally. Our investment solutions span a wide range of global, regional, and country-specific strategies in listed equity, fixed income, and alternative investments delivered through traditional fundamental and active quantitative approaches.
The Liontrust Sustainable Investment team has a track record of more than 18 years of managing funds in this way and has a 14-strong team investing in equities and bonds.
Among the team’s key differentiators is the fact that all the sustainable elements are integrated within a single team. Every team member is responsible for all aspects of financial and ESG relating to an investment decision. This means the team engages with companies across a broad range of issues relating to stages in our process, including screening criteria, sustainable investment themes and company specific ESG issues.
The team has a five-strong external Advisory Committee to provide another layer of expertise in key areas of social and environmental impact.
The Sustainable team’s investment process is based on the belief that in a fast-changing world, the companies that will thrive will be those which improve people’s quality of life, make usage of increasingly scarce resources more efficient and help build a more stable, resilient and prosperous economy.
The team uses a thematic approach to identify the key structural growth trends that will shape the global economy of the future. They then seek to invest in well run companies whose products and operations capitalise on these transformative changes.
M&G Investments is the European asset management arm of Prudential plc, operating in the UK, Europe and Asia. With over £265 billion* of assets under management (fixed income, real estate, multi asset and equities) in the UK, Europe and Asia. Clients and their individual needs are at the heart of our business - around 450* investment professionals develop value-based strategies across a wide range of risk and return requirements, with a successful track record of generating strong and consistent returns.
*As at 31 December 2018
Montanaro is an independent investment boutique with an exclusive focus on quoted Small & MidCap. We have the largest and most experienced specialist team in Europe dedicated exclusively to researching and investing in quoted Small & MidCap companies. Our long-term “Quality Growth” investment approach is the hallmark of Montanaro. As advocates of Sustainable Capitalism, we apply a holistic approach to company analysis. Emphasis is placed on environmental, social and governance factors alongside fundamental attributes. We work closely with our companies to encourage sustainable business practices, which we believe play an integral role in the creation of long-term shareholder value.
The Montanaro Better World Fund invests in quoted Global Developed Small & MidCap companies that make a positive impact on the world. Companies within the Fund provide products or services that are helping to solve some of the world’s major problems. Investments are aligned to six themes that support the United Nations Sustainable Development Goals. The Fund only invests in businesses with at least 50% of revenue attributable to these themes. In addition, the wider operational footprint of investee companies is considered as part of a detailed research process, allowing Montanaro to assess a company’s “net” impact. The Fund has been awarded a 5 Star rating by 3D Investing and the “Label ISR” from the French Finance Ministry.
Nesta Impact Investments (NII) is one of the leading impact investors in the UK and was set up in 2012 by Nesta, the innovation foundation which has played a pivotal role in the development of impact investment in the UK both through NII and through other organisations that we helped establish.
NII invests in high-growth, profit-with-purpose businesses, aiming to achieve a combination of evidenced positive social impact and attractive financial returns. We back early stage revenue-generating, innovative ventures creating scalable, financially sustainable, commercial products or services that are specifically designed to address social challenges for disadvantaged population groups in three thematic areas: education and employment, positive health and community sustainability. NII’s primary goal is to increase the scale, depth and sustainability of social impact of the businesses it backs whilst achieving market level financial returns. NII assesses social impact based on evidenced achievement of one or more social outcomes aligned to UN Sustainable Development Goals.
Neuberger Berman is a private, independent, employee-owned investment manager with $304 bn1 in assets under management. More than 2,000 employees, including 604 investment professionals, operate from offices across 22 countries to service our clients including institutions, family offices, advisors and individuals.
We offer investment solutions across asset classes, capitalizations, styles and geographies in both public and private markets, as well as multi-asset class solutions that bring them all together.
As a firm, we believe that material environmental, social and governance characteristics are an important driver of long-term investment returns from both an opportunity and a risk mitigation perspective. We also understand that for many of our clients the impact of their portfolio is an important consideration in conjunction with investment performance.
The broad implementation of the consideration of social and environment impact in investment portfolios will require market participants to work together to develop shared impact infrastructure, especially with regard to its measurement and management. Neuberger Berman is working collaboratively with industry associations and peers to help shape the future of the industry and to deliver solutions for our clients.
1 As of 31 December 2018
Pantheon is an established global private markets specialist with a 35 year history investing across private equity, infrastructure and real assets. We employ approximately 220 staff, 76 are investment professionals managing USD$37 billion* in funds under management across six offices globally.
Pantheon invests with integrity and professionalism. We are stewards of our clients’ capital and take this responsibility seriously. We care about how and where we allocate capital and believe Environmental, Social and Governance issues shouldn’t be an after-thought.
As a prominent and sizeable investor in private markets we are well positioned to make a difference and follow this through with active engagement across the GP community and industry trade associations. Beyond the maintenance of high ESG standards, Pantheon takes an active interest and invests in funds with a thematic approach that address the world’s challenges of population growth, environmental threats and shortage of resources.
We have a long history of engagement with the UNPRI having signed up in 2007. In the most recent assessment we scored an A+ rating for Strategy and Governance and an A rating for indirect Private Equity and Infrastructure manager selection, application and monitoring. Our commitment to developing a thoughtful approach to ESG has never been stronger.
Using the UNPRI principles, Pantheon has developed an ESG framework as part of our approach to risk management. Key ESG considerations are integrated across our business at management level, and throughout, due diligence, portfolio construction and portfolio monitoring.
Partners Group is a global private markets investment management firm with over EUR 57 billion (USD 66 billion) under management in private equity, private real estate, private infrastructure and private debt. Partners Group is headquartered in Zug, Switzerland and has a further 18 offices globally, employing over 1000 people.
Partners Group has a long-standing commitment to Responsible Investment, having been one of the first private markets asset managers to become a signatory of the UNPRI in 2008. Responsible Investment is also embedded within Partners Group’s core values, as written in the firm’s charter: “We manage assets with a long-term perspective to the benefit of individuals and societies worldwide. We aspire to be a role model in corporate responsibility and we continuously raise environmental, social and governance standards.”
Over the years, Partners Group has developed its own ESG Integration Methodology, which is applied to every investment opportunity and ensures material ESG factors are integrated throughout the investment cycle, from sourcing to diligence through to ownership, across all private markets asset classes.
PfP Capital is a fund management business established by Places for People. Its objective is to create a suite of residential funds, raising equity and investing in regeneration and rental property across all tenures including established PRS, Build to Rent, retirement and affordable homes. Leveraging Places for People Group’s expertise in placemaking, property management and measurable social value PfP Capital adds its own FCA-regulated fund management expertise to offer investors stable returns and ongoing value growth.
At its core, PfP Capital is a socially-conscious fund manager which provides institutional investors an opportunity to deploy capital into residential real estate in a responsible manner. This approach protects and enhances asset values and improves long term investment performance. The Group has an unrivalled tracked record of placemaking and makes long-term commitments to the communities it serves. The focus of the Group is to use commercial methods to deliver social outcomes while delivering stable returns over the long term.
As a result of Places for People Group’s not-for-dividend status, any financial surplus achieved is reinvested into its core business of creating sustainable places.
Pictet Asset Management is an independent asset manager, overseeing over GBP 147 billion (as at 30 September 2018) for our clients across a range of equity, fixed income, alternative and multi asset products. We provide specialist investment services through segregated accounts and investment funds to some of the world’s largest pension funds, financial institutions, sovereign wealth funds, intermediaries and their clients.
Our commitment to responsible investment
We are convinced that Environmental, Social and Governance (ESG) considerations can help us make better long-term investment decisions for our clients. For decades, sustainability has been central to our way of thinking. Since the Pictet Group was founded in 1805, we have aimed to ensure the prosperity of our clients over the long term. In doing so, we have instinctively considered the interests of future generations. Pictet Asset Management believes in responsible capitalism and takes an enlarged view of the economy and its interactions with civil society and the natural environment.
Consistent with our fiduciary duty to act in the best interests of our clients and our adherence to the UN Principles for Responsible Investment (UN PRI), we are committed to integrating material ESG criteria in our investment processes and ownership practices with a view to enhance returns and/or mitigate risks. We also aim to embed ESG in our risk management and reporting tools in order to maintain high standards of transparency and accountability.
Qbera Capital is an independent asset management firm bringing together over 150 years of financial expertise across the team.
Qbera focuses on facilitating and providing debt financing solutions for real economy assets and companies in frontier & emerging markets across the debt structure.
Qbera’s fund strategies focus is based on corporates, sectors and geographies where the Investment Team have extensive experience having originated and structured over US$ 53bn of transactions across their careers to date.
Qbera's vision is to develop and execute various investment strategies that not only provide commercial returns to investors, but also have a positive impact towards achieving the United Nation’s Sustainable Development Goals along with other responsible and sustainable investment initiatives.
Resonance builds and manages impact investment funds which seek to focus investment capital even more strongly on investments which have a defined and intentional positive impact on specific social issues – from financing the assets local communities need to remain resilient, to building the property portfolios which social sector organisations need to deliver their impact, to direct lending to growing businesses which are using a “social enterprise” approach to deliver both robust profits and intentional solutions to social issues.
We have 15 years’ track record in UK focused impact investment across a wide range of sectors, including a series of award winning, institutional grade property funds, and a team of over 30 professionals based across the country giving us reach and insight in the regions in which we invest.
Our unique approach to property investment is allowing us to build institutional grade funds with diversified residential portfolios at scale across the country, accessing under-served markets, reducing risks, and generating an attractive blend of yield and capital appreciation, whilst creating long term benefit to the society into which pensioners will retire.
Robeco is a pure play asset manager founded in 1929 and headquartered in the Netherlands, Robeco has a presence in 15 countries worldwide and manages £148 billion in assets for institutional and individual investors. Through our fundamental, quantitative and sustainability research, Robeco offers investors a compelling range of active investment strategies and services, covering a spectrum of asset classes.
As a strong advocate of responsible investing, ESG factors have been integrated into Robeco’s investment processes for over 20 years. Our in-house active ownership team uses voting rights and strategic engagement with companies in which we invest to maximise our sustainability impact. In 2018 we obtained an A+ score for all modules of our PRI Assessment and were the LAPF Impact Manager of 2017 and 2018.
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Sackers are the UK’s leading specialist law firm for pension scheme trustees, employers, corporate investors and providers. Our finance and investment team has many years of experience advising on the legal aspects of pension fund investment and have been leading voices in the environmental, social and corporate governance(ESG) debate for a number of years.
Our lawyers are assisting pension fund trustees break new ground to develop and implement responsible investment practices. Our advice ranges from the conceptual (including fiduciary duties of trustees) to the practical such as manager terms to embed ESG approaches into pension fund portfolios. Our experts are involved in a number of industry groups and initiatives and are frequently called upon by industry colleagues and press to comment on the detail and impact of the latest proposals from the Government and working groups in this area.
Schroders has been incorporating ESG considerations into its fundamental research and stock selection process for over 20 years. We published our first corporate governance policy in 1998, followed by our responsible investment policy in 2001. Since then, the information and tools available to us, our resources, the depth of our expertise and our approach to integrating responsible investment principles have evolved, but our commitment has remained the same: to be active owners of the companies in which we invest and to reflect ESG factors within our investment process.
As responsible investors and signatories to the UN’s Principles for Responsible Investment (PRI) we consider the long-term risks and opportunities that will affect the resilience of the assets in which we invest. From choosing the right assets, to engaging with our investments, positive principles guide our actions. We believe this approach leads to better outcomes for clients and should be part of every investment process.
Sustainability is mission critical to us at Schroders, both as an investor and as a company, and lies at the heart of our purpose and stakeholder relationships.
Project Snowball (“Snowball”) is a pioneering investment organisation that targets social and environmental impact alongside financial return. Our goal is to make impact investment easy for anyone to access through a public listing of the fund and to demonstrate that this is the future for mainstream investment.
Snowball invests globally across asset classes into organisations that have a positive impact on society and the planet. Our highly diversified approach to investing includes both public and private market investments (ranging from housing the homeless and community owned renewable energy in the UK to microfinance in the developing world).
The impact investments of the founding partners were pooled in a Limited Liability Partnership (LLP) in 2016. During 2019 we plan to expand the number of partners, increasing assets under management and building our investment track record. We are currently building a community of aligned investors who are interested in investing in the strategy once a publicly available fund is available.
For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with US $2.51 trillion* under our care.
*AUM reflects approximately $32.45 billion (as of December 31, 2018), with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
StepStone is a global private markets firm overseeing over US$255 billion of private capital allocations, including more than US$51 billion of assets under management. The Firm creates customized portfolios using a highly disciplined research-focused approach that prudently integrates fund investments, secondaries, and co-investments. StepStone offers customized private markets solutions to institutional clients using industry leading analytics and research capabilities, with a focus on providing highly responsive and collaborative client service. The Firm covers global private markets across multiple sectors and operates from 18 offices in 13 countries.
StepStone believes that environmental concern, social responsibility, and balanced corporate governance can be significant factors in long term value creation. ESG considerations are a critical part of StepStone’s due diligence and are viewed as essential to properly mitigating and measuring risk. The Firm has a dedicated ESG committee and became an UNPRI signatory in 2013.
Sustineri is a boutique advisory firm that provides insights and solutions to institutional investors and other stakeholders in a world that is advancing towards a low-carbon and sustainable future.
The global climate and energy transition is well underway. Driven by a powerful combination of climate policy action and the falling costs of clean energy technologies, this transition is accelerating and is taking place against a backdrop of increasing concern about rising global temperatures and the impacts of climate change. At the same time, sustainable investing and green finance has moved from niche to mainstream. The UN Sustainable Development Goals provide a framework for environmental and social policies as well as fundamental, thematic and impact-related investment opportunities across asset classes.
At Sustineri, we believe that the combination of these factors has urgent and wide-ranging implications (risk and opportunity) for policymakers, investors and all parts of the financial ecosystem. There is no more business as usual and this transition has to be financed.
Sustineri’s mission is to help different actors in the investment value chain – working closely in partnership - to build their knowledge of the transformation underway, and advise and implement on areas such as strategy, governance and stewardship, so that they can make more informed decisions. Sustineri’s partners, Shuen Chan and Richard Folland, draw on their deep and long-standing expertise to develop impactful solutions to help their clients prepare for the global transition and for a sustainable future.
Technology Enhanced Oil plc (TEO) acquires underperforming conventional oil assets and employs environmentally-friendly enhanced oil recovery (EOR) technologies to produce high-grade crude oil, with minimal carbon emissions or chemical pollution.
TEO focuses on a) detecting “green”, proven EOR technologies, before they become mainstream, b) sourcing, evaluating and purchasing properties where such technologies can be used to maximum effect to improve oil recovery, cash flows and returns to investors, and c) stimulating production until the last possible drop of oil can be extracted economically.
TEO is not just another oil-production company, but one with a core focus upon deploying clean-technology methods to materially enhance the production process. TEO adheres to a strong, environmentally sensitive approach to clean oil production. This philosophy is the hallmark of oil-production Company 2.0 and is endorsed by our existing institutional investors, who have backed the Company and its Founders to pursue these goals.
TEO’s first year operating results demonstrate it to be a compelling investment opportunity, with a niche market position capable of delivering impressive results. There is no resulting trade-off from deploying these innovative clean techs, but instead, superior risk-adjusted returns potential on account of their efficacy versus more traditional methods.
The Good Economy Partnership (TGE) is a social advisory firm dedicated to inclusive business and finance as drivers of inclusive and sustainable economic development. Established in 2015, TGE has rapidly established itself as a trusted advisor and thought leader working at the forefront of the converging areas of sustainable development, impact investing and mainstream finance, both in the UK and internationally. We work with clients that share our values and are committed to financial innovation as a driver of change in the Good Economy – ‘an economy that works for everyone’.
We offer a unique blend of strategy consulting, product development, research and impact measurement and management services that enable clients to develop new impact investment products or measure, manage and report on their impact. TGE’s diverse clients include large-scale asset managers, private equity investors, specialist social impact investors, development finance institutions, businesses, social enterprises, charities and government bodies. As of June 2018, our clients manage over £1.5 billion in impact investing assets.
Triodos Investment Management is a globally recognised leader in impact investing – offering investable solutions to addressing today’s challenges. We connect a broad range of investors who want to make their money work for lasting, positive change with innovative entrepreneurs and sustainable businesses doing just that. In doing so, we serve as a catalyst in sectors that are key in the transition to a world that is fairer, more sustainable and humane.
With our highly professional investment teams, we have built up in-depth knowledge throughout our 25 years of impact investing in sectors such as Energy & Climate, Inclusive Finance, Sustainable Food & Agriculture, and Sustainable Real Estate. Besides the 500+ direct impact investments in these sectors, we invest in listed companies with an above-average environmental, social and governance (ESG) performance. With investments in 50+ countries Triodos Investment Management truly is a global player.
Triodos Investment Management is wholly-owned subsidiary of Triodos Bank NV, one of the world’s leading sustainable banks.
For over 15 years, Triple Point has focused on investing responsibly and delivering a positive outcome for all parties. We believe that by investing fairly and responsibly for the long term, we can deliver both attractive financial returns and make a positive impact.
Our focus on leasing and lending to the public sector, NHS and charities for equipment including ambulances, baby monitors and electric streetsweepers has evolved to include renewable energy and supported social housing. We have also raised capital to provide equity funding for socially impactful growth businesses. We target four key areas: health, education, the environment and inequality.
Triple Point was a pioneer of Social Impact Investment Relief (‘SITR’) which led to the launch of our Impact EIS fund. This fund targets capital growth by investing in companies with a commercial proposition that make a measurable positive impact to society.
To date our renewable energy credentials include over £150m of investments in solar, hydro and anaerobic digestion projects, and in 2018 Triple Point was chosen by the Department for Business Energy and Industrial Strategy to manage their £320m investment programme to promote energy efficient heat networks.
Through our Social Housing Fund we invest in properties that house vulnerable adults. Last year we accommodated over 1,000 individuals in high quality housing, supporting them to live a fulfilling and independent life within their communities.
Wellington Management is one of the largest independent investment management firms in the world and traces its history back to 1928. Our innovative investment solutions are built on rigorous, proprietary research and span nearly all sectors of the global securities markets. Our diverse investment teams work together to uncover new investment ideas with the aim of helping clients to achieve their long-term goals.
Our Global Impact approach invests in companies whose core products and services address the world's major social and environmental problems. We believe such an approach can both generate strong potential investment returns and help to improve the lives of people around the world.
Demand for solutions to these challenges is already strong and is expected to grow significantly in the coming decades. We see particular opportunities among publicly listed companies with innovative solutions addressing large and growing end-markets. In our view, this is an inefficient area of the market where dedicated active investors can potentially uncover attractive opportunities. Many of these companies are found “off-the-beaten track” and hence have the ability to also provide diversification across a broader portfolio.
We focus on 10 impact investment themes across the broad areas of life essentials, human empowerment and the environment. These themes align with most of the UN’s sustainable development goals. For each company in our universe, we develop key performance indicators to help us monitor their progress towards delivering impact solutions.
Given the nature of impact companies, their stocks may experience near-term volatility, and the investment approach may therefore be especially suitable for long-term investors.
WHEB Asset Management is a positive impact investor focused on the opportunities created by the transition to a low carbon and sustainable global economy. We seek to generate superior returns from global equities by investing in companies providing solutions to some of the most serious environmental and social challenges facing mankind over the coming decades. The business is focussed on a single global equity strategy, which has been developed over the long-term and tested across market cycles. Our corporate mission in support of this aim is to “advance sustainability and create prosperity through positive impact investments”. We believe a focus on positive impact is an attractive source of investment return for the genuinely long term and fundamental investor. We are an owner managed partnership that is incentivised to take long-term decisions and put our client’s interests first.