Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Governance
• Environmental Sustainability
• Employee Satisfaction

Environmental Achievements

• Launched a 7.2-megawatt photovoltaic solar project at Port Newark Container Terminal (PNCT) expected to meet approximately half of PNCT’s annual electrical demand by end of 2023.

Social Achievements

• 48% drop in the rate of lost time due to injuries between 2017 and 2022.
• Improved employee relations and satisfaction through a values-based culture centered on safety, integrity, operational excellence, employee satisfaction, and teamwork.
• Enhanced health, safety, and environmental standards stricter than the industry norm, including comprehensive safety training program and updated safety equipment.

Governance Achievements

• Reshaped the company’s leadership team with experienced industry veterans.
• Upgraded and expanded the Board of Directors, appointing numerous transportation experts.
• Began participating in GRESB, a leading global ESG benchmark for real assets in 2019.

Climate Goals & Targets

Environmental Challenges

• Negative impact from the Global Financial Crisis of 2007-2009, leading to decline in shipping volumes and travel.
• Deterioration of governance and company culture, impairing strategic direction and affecting relations with employees and customers.
• Significant problems with safety protocols.

Mitigation Strategies

• Overhauled leadership and implemented a values-based culture.
• Replaced senior management with experienced industry veterans.
• Hired an independent third-party expert to identify key challenges and implement solutions.
• Adopted enhanced health, safety, and environmental standards.
• Implemented a comprehensive safety training program, updated safety equipment, and instituted mandatory safety training.
• Upgraded and expanded the Board of Directors.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRESB

Environmental Metrics

ESG Focus Areas

• Climate Change
• Greenhouse Gas Emissions

Environmental Achievements

• Launched Carbon Emissions Dashboard to track GHG emissions for majority of portfolios, including publicly traded and private investments.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Incomplete and inconsistent ESG data sets, particularly regarding GHG emissions.
• Different methodologies used by companies in ESG assessments.
• Difficulty in quantifying the financial impact of all ESG factors.

Mitigation Strategies

• Engaging with management teams to encourage better data tracking and reporting.
• Using data approximations and carbon intensity proxies based on third-party data, company-reported data, and industry estimates.
• Developing a proprietary model to calculate carbon intensity scores.
• Creating an interactive Carbon Emissions Dashboard to allow analysts to refine data and document engagement with companies.
• Improving data integration into risk screening, relative value assessments, and trend analysis.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather patterns

Transition Risks

• Stranded assets, obsolescence

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed