Climate Change Data

Environmental Metrics

ESG Focus Areas

• Responsible Investing
• Corporate Social Responsibility (CSR)
• Diversity and Inclusion
• Environment
• Community Partnerships

Environmental Achievements

• Introduced carbon intensity monitoring and carbon attribution reports.
• Hosted an Earth Jam, a global employee initiative to reduce environmental footprint.

Social Achievements

• Launched Global Respect and Inclusion Policy.
• Became a founding member of Diversity Project North America.
• Launched The A Effect's "Défi 100 jours" for women's professional development.
• Sponsored "Spotlight on Women" event.

Governance Achievements

• Adopted a new Global Proxy Voting Policy covering ESG issues.
• Improved MSCI ESG Rating to 'A' from 'BBB'.
• Improved UN PRI Survey assessment score in property, infrastructure, and strategy & governance.

Climate Goals & Targets

Environmental Challenges

• Need for improvement in carbon disclosure practices.

Mitigation Strategies

• Introduced carbon intensity monitoring and carbon attribution reports to support investment decisions.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN PRI

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Social
• Environmental

Environmental Achievements

• Reduced GHG emissions by 5% globally
• Reduced energy by 6% and saved over 6 million litres of water in Canadian offices
• Canadian offices diverted over 380 metric tonnes of waste from landfill
• Increased global green building certification rate to over 17 million sq. ft
• Cory (portfolio company) moved its entire river fleet from marine gas oil to run on biofuels, resulting in a reduction of net carbon dioxide emissions by over 90% from Cory’s river operations

Social Achievements

• Conducted a company DE&I assessment and developed action plans
• Trained 100% of employees on ESG considerations
• Raised over C$120,000 for charity
• Achieved Living Wage Employer Accreditation for FRE UK Long Income Strategy
• Engaged with tenants on ESG at 79% of properties
• Supported 7 community projects with grants from Cory's Community Fund

Governance Achievements

• Joined the Net Zero Asset Managers initiative
• Created a Sustainable Investing Team
• Appointed as sub-advisor in a newly launched Horizons Active ESG Corporate Bond ETF
• 6 of our real estate strategies earned a “Green Star” rating from the Global Real Estate Sustainability Benchmark (GRESB)
• Achieved Planet Mark sustainability certification
• Developed a net zero carbon pathway for FRE UK Long Income Strategy
• Incorporated green lease clauses into 72% of new leases in FRE Canada CORE Strategy and FRE Canada Industrial Strategy
• Participated in GRESB for the fifth consecutive year, increasing scores, and achieved “Green Star” status across all six fund submissions

Climate Goals & Targets

Environmental Challenges

• Access to more and better emissions data to fully comprehend underlying climate-related risks within portfolios

Mitigation Strategies

• Initiated the setting of interim decarbonization targets (to be disclosed in Q3 2022)
• Incorporated TCFD guidance into the firm’s proxy voting policy and will issue its first TCFD report in 2022

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB, TCFD, UN PRI, GRESB

Certifications: Planet Mark

UN Sustainable Development Goals

• SDG 11: Sustainable Cities and Communities

Contribution through financing affordable housing developments.

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Biodiversity
• Nature
• Social Capital
• Human Capital
• Environmental Efficiency
• Leadership & Governance
• Business Model & Innovation

Environmental Achievements

• Achieved green star status for all participating strategies in GRESB for real estate in Canada and the UK (6th consecutive year)
• Fiera Infrastructure achieved 2022 GRESB results well above its peer group average, with a 6% increase in score for EagleCrest Infrastructure Canada Fund and a 10% increase for EagleCrest Infrastructure SCSp Fund.
• Global Agriculture Fund implemented water-efficient initiatives (shade cloth technology and new irrigation systems) reducing significant water consumption and achieved USDA Organic Certification on 18,500 acres.
• Committed US$13.52 billion (11% of AUM) to be managed in line with net-zero greenhouse gas emissions by 2050 or sooner.
• Invested in a World Bank Sustainable Development Bond.

Social Achievements

• Launched several initiatives to create career opportunities for students at Grace Academy Coventry (UK), including career days, summer work experience, and a Duke of Edinburgh Fund.
• Partnered with Habitat for Humanity Canada, donating US$14,500 and engaging volunteers in build projects.
• Financed a two-stage affordable housing development in Auckland, New Zealand (Project Cypress), providing close to 400 affordable homes.

Governance Achievements

• Became an official supporter of the Task Force on Climate-Related Financial Disclosures (TCFD).
• Submitted an initial commitment to the Net Zero Asset Managers Initiative (NZAM).
• Joined the Climate Action 100+ investor engagement initiative.
• Established Private Markets Sustainable Investing Committee.
• Updated Proxy Voting Policy.

Climate Goals & Targets

Environmental Challenges

• Inflation, geopolitical instability, and energy security impacting financial markets.
• Increased “anti-ESG” sentiment in the United States.
• Insufficient ESG rating coverage of Canadian corporate bond issuers.
• Inconsistent level of ESG disclosures in the small-cap universe.
• Understanding how buildings are currently performing to achieve operational net zero carbon (due to tenants procuring energy directly).

Mitigation Strategies

• Developed a proprietary Fiera ESG Score to enhance data infrastructure for Canadian corporate bond issuers.
• Developed proprietary ESG dashboards and sector-specific tools for small-cap companies.
• Partnered with Etainabl for automatic data collection software to obtain energy and water data from tenants.
• Active engagement with companies to improve ESG practices and disclosures.
• Developed internal scoring frameworks for project financing and real estate assets.

Supply Chain Management

Responsible Procurement

• Social audit programs by accredited third-party organizations
• Vendor compliance programs

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Water stress

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Renewable energy investments
• Sustainable financing frameworks

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UN PRI, GRESB, NZAM, PAII, SFDR, Impact Management Project

Certifications: LEED, USDA Organic

UN Sustainable Development Goals

• SDG 4 – Quality Education
• SDG 9 – Industry, Innovation and Infrastructure
• SDG 13 – Climate Action
• SDG 11 – Sustainable Cities and Communities

Investments and initiatives contribute to these goals through various projects and partnerships.

Awards & Recognition

• Finalist in the Multi-Assets category of the Great Canadian ESG Championship
• Jessica Pilz nominated as a finalist for the edie Awards 2023 in the Sustainability Leader of the Year category

Environmental Metrics

ESG Focus Areas

• ESG Integration
• Active Ownership
• Climate Change
• Industry Collaboration

Climate Goals & Targets

Environmental Challenges

• Climate change risks
• Managing sustainability risks across various asset classes and geographies

Mitigation Strategies

• ESG integration into investment decisions
• Active ownership and engagement with companies
• Collaboration with industry peers
• Negative screening for certain strategies

Supply Chain Management

Responsible Procurement

• Compliance with Canadian regulation on fighting against forced labor and child labor in supply chains

Climate-Related Risks & Opportunities

Physical Risks

• Physical impacts of climate change

Transition Risks

• Transition risks associated with a low-carbon economy

Reporting Standards

Frameworks Used: SASB, TCFD, TNFD, PRI