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.
Acadian believes that environmental, social, and governance (ESG) issues are closely associated with traditional investment issues. To this end, we were an early adopter of Responsible Investing, having implemented related concepts in our core process since the 1990s. We are pleased to have been the first quantitative investment firm to sign the PRI in 2009.
Acadian’s philosophy is that the stocks likely to generate the best risk-adjusted returns are characterized by strong financial health, solid business prospects, favorable management quality, and upside potential. As we develop a fundamental view of a company, we evaluate both traditional investment factors and non-financial signals, including those related to ESG.
Acadian wholly incorporates ESG investing throughout our investment process. Environmental, social, and governance considerations are integrated through factors in our bottom-up and top-down forecasting frameworks.Our investment process goes beyond directing capital on the basis of ESG considerations; we are also active stewards of the capital we invest. Our active research agenda prioritizes ESG factors that meet high standards of materiality, and we continue to research ESG factors that may improve returns or reduce risk in our portfolios. We monitor and offer comprehensive reporting on ESG exposures, proxy voting, and engagement activities.
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.
At AllianceBernstein (AB), we believe that effective responsible investing must start with an unwavering commitment to be a responsible firm ourselves. For more than 50 years, AB has served both our clients and the communities we operate in responsibly. Our promise to be a responsible citizen for all stakeholders underpins our approach to Responsible Investing. We seek to model the same behaviors we expect from investee companies: strong governance, positive social impact, and thoughtful environmental stewardship. Indeed, our strong, long-standing commitment to corporate responsibility makes us more responsible investors for our clients.
Our primary approach to Responsible Investing is through "Integration", meaning we fully integrate ESG factors into our research investment processes, and we actively engage on ESG-related issues. We do so for all actively-managed equity and fixed income client accounts and funds, which represent the majority of our AUM. Drawing on our experience as active owners ourselves, we designed and offer “Portfolios with Purpose”: Strategies that go one step further than ESG integration, incorporating one or more explicit ESG objectives/approaches into their day-to-day management. These solutions – screening, goals-based, sustainable and impact - address our clients’ increasing desire to invest their capital with purpose while also pursuing strong investment returns.
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).
Aon is an advocate for best practices in Responsible Investment (RI). We have spearheaded several initiatives to help provide the investment industry with future insights and guidance on this evolving topic. Our work includes:
As part of our commitment in this area, we have invested in finding innovative ways to invest in Impact and provide investors with investment solutions which offer the potential for financial rewards and risk mitigation, while making a positive contribution to environmental and social challenges.
As a long‑term investor, we’re convinced our investments will be more successful if we understand how the companies and projects we invest in perform on issues like board diversity, governance, climate change and regulatory developments. Our insight into environmental, social and governance (ESG) issues and trends help us understand the risks that could hit our investments and spot investment opportunities.
Supported by the Global Responsible Investment team, our analysts and portfolio managers integrate ESG issues into the investment analysis and decision-making process across all our asset classes. We use our influence through engagement and voting to promote sustainable business practices, gain insight and reduce investment risk.
In 2019 we voted on 61,876 resolutions at 5382 shareholder meetings, representing 24% of votes against management resolutions including 46% of pay proposal. We also undertook 3,122 company engagements with 2,149 individual companies to identify and reduce ESG risks in our portfolios.
Aviva received the United Nations Foundation Leadership Award in recognition of our work to support the United Nations Sustainable Development Goals.
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 $327+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
*As of March 31, 2020
Barnett Waddingham is a leading independent UK consultancy at the forefront of risk, pensions, investment and insurance. Across Barnett Waddingham, we work to assist trustees with all aspects of running their pension scheme, including ESG, responsible and impact investment considerations. We give comprehensive advice on the regulatory ESG framework affecting pension schemes and we design practical, client-focused solutions to help our clients reflect their beliefs, on ESG considerations and beyond, in their investment strategy.
Our ESG, responsible and impact research is supported by a working group whose expertise spans across manager research, DB and DC consulting. This group draws on the depth of knowledge from across the firm to provide insightful and innovative research, training and support.
As a firm, we recognise that we have an impact that goes beyond our core activities. Barnett Waddingham believes in giving back to the communities where our employees live and work, and have developed corporate social investment policies to address our own impact, as well as charitable donations and paid staff volunteering.
bfinance is an independent investment consultant providing a range of services to investors across the globe (more than 35 countries to date). These services including manager research and selection, portfolio strategy and design, risk analytics, fee benchmarking, performance monitoring and more. The firm does not provide any asset management or fiduciary management services and we believe that such services represent a potential conflict of interest alongside investment advisory activities.
Within these services, the firm has long worked to help clients in developing and implementing their approaches to responsible investment. Investors face a range of challenges in this space including developing effective ESG policies, integrating specific ESG or impact considerations into manager research and delivering on ESG or impact reporting objectives. Our clients frequently have specific individual requirements: there is no ‘one size fits all’ when it comes to responsible investment. The firm’s highly differentiated manager selection process has been particularly useful in addressing ESG considerations, since it enables an investor’s unique requirements to be applied to the widest universe of managers. Managers can score poorly on ESG criteria for specific clients while having a strong (generic) ESG rating from another relevant entity.
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.
BMO Global Asset Management is a global investment manager and part of the BMO Financial Group, wholly owned by the Bank of Montreal (BMO), a 200-year-old institution. Through provision of market-leading investment capabilities across multiple asset classes, we focus on innovating and delivering investment solutions for clients. Today we manage assets in excess of £207bn for a diverse client base, including 500+ UK Pension Schemes (as at 31 October 2019).
We are dedicated to pursuing growth in a responsible and sustainable manner. For over three decades, we have taken a leadership approach in developing sustainable investment strategies. Since launching the UK’s first ethical strategy in 1984, our offering has broadened to include a range of ethical and thematic strategies, as well as a comprehensive approach to engagement and voting. In 2000, we launched our flagship reo® service which continues to be a market-leading engagement overlay service.
In 2006 we were a founder signatory to the United Nations Principles for Responsible Investment (UN PRI). The 2019 framework marks our fourth unified UN PRI Transparency Report, jointly encompassing our operations in North America and Europe. We are proud to have achieved the maximum rating of A+ for our overall Strategy and Governance.
BNP Paribas Asset Management is the asset management arm of BNP Paribas, one of the world’s foremost financial institutions, and offers high value-added solutions to individual savers, companies, and institutional investors. It has a broad range of skills in four investment divisions: Equities, Fixed Income, Private Debt & Real Assets, and Multi-Asset, Quantitative and Solutions (MAQS). Sustainability is at the heart of BNP Paribas Asset Management’s strategy and investment decision-making process, making an active contribution to energy transition, environmental protection and the promotion of equality and inclusive growth. Its aim is to achieve long-term sustainable investment returns for its clients. BNP Paribas Asset Management has more than 530 investment professionals and almost 500 client servicing specialists, serving individual, corporate and institutional clients in 69 countries.
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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.
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.
Connected Asset Management is an impact investment management firm that has spun out of the multi-award-winning pension fintech, Smart Pension, a workplace pension provider for UK SMEs and micro employers.
At CAM we bridge the gap between impact investment firms and pension funds. We introduce UK DB & DC pension funds to a wide array of impact investments by:
Working with key stakeholders at Smart Pension we have facilitated their transition to a market leading default investment proposition with 71% exposure to ESG funds from a starting point of zero in 2019.
DWS Group (DWS) is one of the world's leading asset managers with EUR 719bn of assets under management (as of 30 June 2019) and approximately 3,600 employees globally. Building on more than 60 years of experience, DWS is recognized by institutional and individual clients around the globe, as a provider of integrated and innovative investment solutions. DWS manages a full spectrum of investment disciplines across all major asset classes and solutions in Active, Passive and Alternatives, which are aligned to growth trends.
In addition to traditional assets with screening against ESG requirements, DWS manages impact and thematic investing out of its Sustainable Investments team, which platform was founded more than 20 years ago when it became the first global asset manager to set up a microfinance fund. Since then, the team launched a series of private debt and private equity strategies, in the area of (i) financial inclusion, (ii) climate finance and (iii) agriculture and sustainable food supply.
These efforts have been in conjunction with the European/US governments and development agencies, working together to adopt international best practice ESG requirements in the respective strategies. The team also led the accreditation with the UN entity Green Climate Fund (GCF), allowing DB group to become the first global bank with such accreditation. The team has also been an active participant and contributor to developing a number of self-regulating industry standards among microfinance investing efforts globally.
DWS wishes to continue developing innovative impact and thematic products, because DWS understands sustainability is not just a passing trend, but rather a question of long-term, responsible conduct.
Earth Capital Ltd (‘Earth Capital’) is the investment manager for the Nobel Sustainability Fund® (‘NSF’) and a global private equity investment manager who invests exclusively in sustainable technology within the climate change nexus of energy, food and water efficiency with a track record of strong returns and an extensive history of collaborative working together .
We are marketing the Nobel Sustainability Fund® to institutional investors looking to allocate to impact and ESG themes in private equity. We are building a portfolio of 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.
A global leader in active, responsible investment
Federated Hermes is guided by the conviction that responsible investing is the best way to create long-term wealth.
We provide specialised capabilities across equity, fixed income and private markets, in addition to multi-asset strategies and proven liquidity-management solutions.
Through our world-leading stewardship services, we engage companies on strategic and sustainability concerns to promote investors’ long-term performance and fiduciary interests.
Our goals are to help individuals invest and retire better, to help clients achieve better risk-adjusted returns, and to contribute to positive outcomes in the wider world.
Becoming Federated Hermes
Our brand launched in February 2020, when Federated Hermes, Inc. listed on the New York Stock Exchange, strengthening our position as a global leader in active, responsible investment.
This was a natural step in the development of Federated Investors and Hermes Investment Management. Since Federated became the majority owner of Hermes in 2018, we have been united by a shared commitment to client-centric responsible investment and long-term business growth.
We are the international business of Federated Hermes
All activities previously carried out by Hermes now form the international business of Federated Hermes. Our brand has evolved, but we still provide the same distinct investment propositions, deep integration of responsibility and industry-leading stewardship capabilities for which we are renowned – in addition to important new offerings from the entire group.
* As of February 3, 2020
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.
An alternative investment in UK affordable housing
Funding Affordable Homes (“FAH”) is a social impact company which builds and acquires affordable housing to deliver financial and social returns for both communities and investors.
Real Estate and Investment Advisory services are provided by Edmond de Rothschild Real Estate Investment Management ('EdR REIM').
Introduction to FAH
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.
Gowling WLG (UK) LLP is an international law firm with one of the UK's largest pensions law teams. Our team advises trustees, employers and financial institutions on all areas of pensions law. This includes advice in relation to investments made by pension funds and, over the last few years, has increasingly seen us advising clients on environmental, social and governance (ESG) issues.
Working alongside our specialist corporate funds team, our Pensions Law Team has become increasingly involved in supporting clients in their implementation of responsible investing. This has included providing training for trustees on ESG issues, assisting with the drafting of statements of investment principles and responsible investment policies, and negotiating agreements and side letters with investment managers in relation to pooled funds. Our advice has been applied to both defined benefit and defined contribution schemes, and in the latter environment, we have also been helping our clients consider how to engage with the scheme's membership to understand its views on ESG matters.
We have established an ESG Working Group within the team, which is specifically focused on driving the agenda on responsible investment for pension schemes and, more widely, that group is working with other parts of our law firm to help our clients respond to challenges relating to climate change, the circular economy and sustainability.
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
Insight Investment is a leading global investment manager focussing on risk-management solutions, including liability-driven investing (LDI) and currency risk management; a full spectrum fixed income capability; and a range of multi-asset and absolute return strategies.
Insight has been a long-term proponent of responsible investment as a founding signatory to the PRI in 2006 and a supporter of the Institutional Investors Group on Climate Change and CDP initiatives since our founding in 2002. In 2016 Insight was given Tier 1 status by the Financial Reporting Council in recognition of "a good quality and transparent description of [our] approach to stewardship”. In 2019, Insight was awarded A+ ratings across most of the relevant categories in the PRI survey, a reflection of its ongoing commitment to integrating responsible investment practices across all aspects of its business. Insight believes a responsible investment approach can help investors seek to pursue their long-term financial and non-financial objectives.
Insight takes a two-pronged approach to managing responsible investment across portfolios, by seeking to:
Insight believes that responsible investment is an everchanging and developing area of investments and therefore continues to evolve their approach in this area. With a dedicated team of ESG professionals, and a strong governance structure, Insight seeks to influence, educate and improve the future of responsible investing.
Invesco has been implementing environmental, social and governance (ESG) strategies for over 30 years, and today deliver these through equities, fixed income, multi-asset, real estate, ETFs and bespoke solutions.
We’re committed to adopting and implementing ESG principles in a manner consistent with our fiduciary responsibilities to our clients. Whether it's industry advocacy, adherence to principles and practices, or by leading the charge in engagement, client needs sit at the heart of our ESG approach.
Launching our first SRI product over 30 years ago, Invesco became a signatory of the UN-backed Principles for Responsible Investment in 2013 – achieving A+ in Governance and Strategy for three consecutive years. We are also disclosers to the Carbon Disclosure Project and supporters of the Task Force for Climate-related Financial Disclosure. Additionally, we recently joined three leading initiatives aimed at combating Climate change: Climate Action 100+, the Institutional Investors Group on Climate Change and the World Economic Forum’s Climate Change Resilient Infrastructure working group.
Our ESG philosophy is centred around ESG integration, ESG engagement / active ownership (using our position as one of the largest investment managers globally to drive demonstratable change) and ESG collaboration (partnering with clients and industry innovators to develop new products and customized solutions).
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.
Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 31st December 2018, Kempen Capital Management’s client assets were €58.9 billion.
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.
At Lombard Odier, we believe the economy is already transitioning towards a sustainable ‘CLIC’ model that is Circular, Lean, Inclusive and Clean. This transition is fundamentally re-shaping risk and return dynamics across all sectors and asset classes. Achieving the objectives outlined in the UN Sustainable Development Goals will require a monumental, concerted effort to transform business models across all sectors. This is likely to create unprecedented value and investment opportunity. It may also mean significant, and sudden, re-pricing of assets.
We believe it is our fiduciary duty to help clients benefit from these opportunities, while also navigating the risks. Our priority is to best meet clients’ long-term objectives while fostering the transition to a CLIC economy. This is why we embed sustainability at the very heart of our investment process.
We rely on robust, forward-looking, science-based analysis to assess how well companies are positioned in relation to material sustainability issues. We actively engage with them to inform our investment decision making and to encourage them to transition towards more sustainable business practices and models. We believe this is essential to protect and enhance the value of clients’ assets, accelerate the transition to a sustainable economy, and create positive economic, environmental and social outcomes.
M&G Investments is the asset management arm of M&G plc, operating in the UK, Europe, North America and Asia. As a trusted partner, our clients’ individual needs are at the heart of our business. We align our interests with those of our clients and develop value-based strategies to generate strong and consistent returns. Our goal is to help our clients meet their long-term liabilities regardless of the market environment.
With £276 billion* of assets under management across fixed income, equities, real estate and multi-asset strategies, and over 400 investment professionals (including what we believe to be one of Europe’s largest credit research teams), we have the scale and expertise to offer tailored investment solutions across a wide range of risk and return requirements.
M&G is an active investor – both in terms of how we manage our assets, and how we innovate and develop our offering to ensure that we continue to meet evolving investor requirements.
The value of investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount they invested.*As at 30 June 2019
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.
At Natixis we distinguish between different kinds of ESG investing, but in all that we do we focus on activities that truly make a difference.
Natixis Investment Managers as a group has committed to responsible investment as defined by the UN-backed Principles for Responsible Investment (PRI):
Natixis Investment Managers is a PRI signatory and all of our affiliates recognize these principles; most of our affiliates are also PRI signatories in their own right (covering 89% of AuM).
Because of the unique characteristics of our multi-affiliate model, affiliates implement ESG approaches to ESG Integration and active ownership that match their DNA. It's a model that offers active investment solutions from over 20 high-conviction investment managers, offering more than 200 strategies that cover liquid and illiquid strategies across private equity, infrastructure, real estate and private debt.
Many of our affiliates are also involved in "outcome-oriented ESG investing" – achieving explicitly defined societal or investment goals based on high conviction ESG strategies.
"Taking into account ESG factors fits very well with our active and long-term approach to investment, and aligns the interests of future generations with our investment decisions. At Natixis Investment Managers we feel a strong sense of responsibility to contribute to the further development of sustainable finance where we can." Jean Raby, CEO Natixis Investment Managers
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
Newton Investment Management is a London-based, global investment management firm, providing a focused range of investment strategies to public and private-sector DB and DC pension plans, corporations, charities, and, via BNY Mellon, individuals. We have particular expertise in absolute-return, income-focused, high-conviction and sustainable investing.
We use bottom-up security selection in the context of a thematic framework to manage strategies to help secure our clients’ futures. We integrate environmental, social and governance (ESG) research into our security selection process across all investments. We believe that the long-term value of an investment is ultimately driven by the relationship between and among all stakeholders (e.g. directors, investors, customers, suppliers, employees, the environment, society and regulators), and that understanding the materiality of ESG issues improves our investment decision-making.
Our sustainable strategies build on this integrated process by targeting a dual outcome of investment returns and positive societal outcomes. Principles-based red lines prohibit investment in tobacco, companies that violate the UN Global Compact’s ten principles, and companies and governments that we deem incompatible with limiting global warming.
We aim to help our clients make a positive difference to people and the planet while delivering long-term investment returns. We do so through comprehensive integration of sustainability considerations into our investment strategies with all our strategies incorporating ESG factors. We also offer dedicated strategies targeting opportunities arising from the world’s transition to a more sustainable model.
With our roots in Africa, we know that well-directed investment can transform lives for the better. For over a decade, we have been investing in economic development in Africa, mobilising finance to bring health and prosperity to some of the continent’s poorest communities. We also care deeply about preserving the natural world. As well as investing sustainably, we support initiatives to conserve wildlife.
As an active investor, we engage with companies and governments to encourage them to address sustainability and improve their ESG performance. We believe strongly in the power of engagement to effect positive change. We also aim to act sustainably in our engagement with clients, communities and other stakeholders — and in the way we inhabit our own environment.
“By investing sustainably, we aim to help people lead better lives in a better world.” – Hendrik du Toit, CEO Ninety One
We’re committed to enabling institutional investors make their contribution towards improving society and the environment, by providing sustainable returns in alternative markets. We believe our behaviours matter as much as our results, so we want to be different from the rest.
We focus on a small number of sectors where we can be leaders, and are working towards ensuring every single pound that we invest makes a positive and measurable contribution towards the changes we want to see for society and the environment.
Founded in 2000, we invest in renewables, health and care real estate, commercial real estate lending and smaller companies through our unique approach:
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.
PIMCO is one of the world’s premier fixed income investment managers. In the nearly 50 years since our launch in 1971 in Newport Beach, California, we have worked with millions of investors to pursue their objectives through shifting cycles and market conditions. PIMCO is committed to the integration of Environmental, Social and Governance (ESG) factors in our entire investment process, as well as developing innovative ESG solutions for clients. We manage a range of ESG-focused mutual funds and separate accounts founded on the belief that it’s possible to achieve both attractive financial returns and positive change. Within PIMCO’s dedicated ESG strategies, we focus on identifying and engaging with companies that have the ability and willingness to improve ESG-related business practices. We believe that successful engagement has the potential to lower credit risk, unlock value and influence change. As one of the world’s largest fixed income managers, we believe we are uniquely positioned to partner with bond issuers for the long term to help them achieve their climate and sustainability goals. Our goal is not just to find opportunities, but to create them by engaging with issuers.
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.
The Quinbrook Infrastructure Partners group (‘Quinbrook’) is a specialist investment manager focused on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia. Quinbrook was founded in 2015 by David Scaysbrook and Rory Quinlan, experienced power industry professionals and investment managers who have been working together for over 15 years. Quinbrook has completed multiple investments in both utility and distributed scale wind power, reserve power gas plants, and ‘smart grid’ projects in the US, UK and Australia.
Quinbrook’s value-add investment strategy targets higher returns from a combination of new asset development and construction, and operational improvement of assets. Quinbrook believes strongly in delivering tangible ESG outcomes such as job creation, economic stimulus, community benefit and environmental improvement, as well as clear and concise ESG reporting. Quinbrook recently announced the signing of a Power Purchase Agreement (PPA) for Gemini, believed to be (at the time) the world’s largest solar and battery storage project which is expected to:
Record Currency Management is a leading currency asset manager. Though specialising in an underexplored asset class with respect to responsible investment, Record has pioneered research into ESG investment in currency, developing an emerging market ESG currency product back in 2018. Since, sustained research has developed further understanding and supported innovation in Impact products, as well as an ESG/Impact counterparty engagement process. We work collaboratively with clients and other researchers to broaden our understanding and contribute to the important debates occurring in a fast-developing, though nascent, market. In this vein, the firm branched out into the Impact bond space in 2019. Using Record’s own funds to invest in bonds from multilateral organisations aimed at supporting developments pertaining to the UN SDGs, Record hopes to assist with this development and achieve impact, as well as seizing an opportunity to gain experience in dealing, holding and reporting on impact bonds in order to obtain a competitive and trusted understanding of the market, which can underscore future Impact products for clients.
An ESG committee established at the beginning of 2020 assumes responsibility for the coordination of progress with respect to firm, product and industry level ESG/Impact developments. As part of this, sustainability officer positions were created to formally represent responsibility within the firm. From junior to board level, sustainable investment is a key focus as Record recognises both the financial and moral case for its centrality in decision-making, for the firm, clients and wider stakeholders.
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.
River and Mercantile Group is a leading fiduciary management, equity solutions and derivatives business that focuses on providing outcome-oriented propositions and delivering investment growth to all our clients. Across the Group, we integrate ESG into our investment processes and practises, as well as work with all our trustees to help them understand the importance of including responsible and impact investments in their portfolios. Our ESG approach is driven by our firmwide ESG Committee which contains representatives from across the business, ensuring both our client considerations and the broader ESG backdrop are accounted for within our decision-making framework. Not only are we in the fortunate position of understanding the regulatory framework - and therefore able to provide trustees with advice on this – but also being asset owners, we understand the best ways to drive change, through engagement, within the companies we own.
At the Group level, our approach to ESG is embedded through Community, Environment and Stewardship, which we believe promotes a sustainable future that benefits all. Examples of these include recent charitable donations to support local communities impacted by Covid-19, both in the UK and US; implementation of a green-friendly working environment that reduces our carbon footprint; becoming signatories of the Principles for Responsible Investment (PRI) and subsequently achieving an A+ for our first report. As a firm we are aware that we have a duty that stretches beyond our core activities, and the ESG Committee works closely with our clients, colleagues and peers to ensure we continue to strive to display best in class practises across all levels of ESG engagement.
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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Russell Investments is a leading global multi-asset manager that delivers investment portfolios that combine advice, investments and implementation. Russell Investments stands with institutional investors, financial advisers and individuals working with their advisors — using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures — to help each achieve their desired investment outcomes.
We believe that a sound awareness of environment, social and governance (ESG) factors and a robust process can help to deliver strong investment returns and meet objectives over the long term. As our clients become more committed to reflecting their views on ESG issues in their investment portfolios, we have developed: decarbonisation strategies, systematic ESG scoring methodologies and flexible implementation systems to help our clients ‘meet their investment objectives. The firm has been a signatory to the United Nations’ Principles for Responsible Investment since 2009. In the PRI 2019 assessment we were awarded an A/A+ rating for our approach to responsible investing.
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.
Sarasin & Partners invests thematically and sustainably on behalf of a range of institutional, charity and discretionary clients. We believe investment has the power to grow and protect capital in a way that benefits society.
We take a global, long-term, thematic approach to investing – with responsible investment at its core. We identify powerful trends that will shape the investment landscape for years to come, and embed stewardship into our investment process. Our five megatrends, underpinned by stewardship, drive our investment approach: Digitalisation, Automation, Ageing, Evolving Consumption and Climate Change. Our thematic investment approach is complemented by our focus on stewardship.
We adopt an ownership discipline that governs our approach to investing. The collective failure of asset owners and managers to properly monitor and hold executives to account is widely viewed as a weakness with capital market. Investing is more than just allocation, it means taking an ownership stake and this confers important rights in determining the outcome of businesses operate. But ownership also entails responsibilities to exercise these rights with due care and consideration.
Importantly, our ownership discipline is not solely the responsibility of our stewardship team, or any particular individual to implement. Each and every member of our asset management team takes on this responsibility.
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.
SDG INVESTMENTS – WE MAKE THE SUSTAINABLE DEVELOPMENT GOALS INVESTABLE!
SDG INVESTMENTS is a digital matching platform for financial instruments and investment products, where the use of proceeds contributes to the Sustainable Development Goals (SDGs) of the United Nations. The platform bridges the gap between project sponsors and institutional investors, allowing them to find sustainable investments which meet their individual investment criteria. Project sponsors upload their financing needs, and investors log their investment criteria, including the SDG they want to support, on the platform. The platform will match funding needs with investment demand, and automatically notifies investors of relevant investment opportunities. Thus, SDG INVESTMENTS increase the transparency and efficiency of the investment process for sustainable investments.
Since 2017, SDG INVESTMENTS has facilitated financing for projects spanning from renewable energy and energy efficiency to micro-mobility, quality education and sustainable farming, arranging for the provision of equity and debt as well as the sale of real assets.
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.
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.
Broadening the Definition of Value – the UBP Positive Impact platform
UBP is a Swiss family-owned business with CHF 134bn worth of assets under management and a firm belief that sustainable and responsible investment choices are beneficial for long-term returns.
That belief is manifested by UBP’s strong and evolving Responsible Investment Policy, and our Impact Investing platform is a clear example of the innovation arising from this approach.
There are relatively few listed equity funds investing solely in companies whose revenue streams come from activities that positively impact society and the environment. UBP’s platform places a strong emphasis on these objectives and we have developed a unique investment process, including bottom-up research and corporate engagement, to measure the impact generated.
Multi-lateral engagement furthers our efforts and UBP’s commitment is shown in various ways: as well as being signatories of the UNPRI since 2012 and members of Geneva Sustainable Finance, UBP is particularly proud to be a member of the Cambridge Institute for Sustainability Leadership’s (CISL) “Investment Leaders Group”. We most recently contributed to a report on impact measurement, the goal being to achieve a meaningful, standardised set of industry-wide metrics to increase the comparability of funds from an extra-financial perspective. UBP is also a founding member of The Big Exchange, a mission-led, mobile-first financial services initiative that will offer affordable positive impact funds to retail investors.
Union Investment considers sustainability to be a core element of the cooperative principles by which it operates. For more than 60 years, our mission has been to focus on the long term and to achieve a holistic view of the markets, of developments, and of the needs of our investors. It is now almost 30 years since we launched our first investment fund that took sustainability criteria into account, and we have been steadfastly developing our expertise ever since.With € 55 billion sustainable assets under management (30.06.2020), we are aware of our responsibilities as Germany’s market leader for sustainable investments. As well as the comprehensive integration of environmental, social and corporate governance (ESG) aspects into our investment process, we want to play a role in making our future sustainable by steadily stepping up our engagement activities and collaborative work.
Wellington Management is one of the largest independent investment management firms in the world, serving as a trusted adviser for institutions in over 60 countries. Our innovative investment solutions are built on the strength of rigorous, proprietary research and span nearly all sectors of the global securities markets.
As a private firm whose sole business is investment management, our long-term view and interests are aligned with those of our clients. And to better assess risks and opportunities in client portfolios, we have integrated the analysis of environmental, social, and corporate governance (ESG) factors into our investment and risk-management processes firmwide. Our dedicated ESG team provides our investors with proprietary research and insight to support ESG considerations, incorporating analytics, company engagement, and in-depth portfolio reviews.
Wellington has entered into a collaborative initiative with the Woodwell Climate Research Center — the world’s leading independent climate research institute — to integrate climate science and asset management. Our new alliance will focus on creating quantitative models to help analyse and better understand how and where climate change may impact global capital markets. A broad range of projects are planned, including developing investor tools and innovative analytical methods seeking to improve climate risk assessment and investment outcomes.
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.
XPS Pensions Group is a leading UK pensions consultancy. We believe ESG and climate change considerations are an integral component of investment decision making and that good stewardship should not be seen as an “optional extra” for investors. Further we believe that taking a long term approach to investment goes hand in hand with taking a sustainable approach and that good quality investment strategy and investment management will represent sustainable investment. We recognise pension schemes and the industry as a whole are on a journey, and we are therefore focussed on providing trustees with education and a practical framework to implement their investment beliefs in relation responsible, sustainable and impact investing, whilst continuously evolving along with the industry.
Our research framework provides trustees with transparency on their underlying managers’ approach to ESG, climate change and stewardship along with the platform to choose managers that are more aligned to their investment beliefs. As impact investing gains momentum, we want to be at forefront of helping our clients achieve their financial goals alongside contributing to a positive future.