Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• Supported Greencoat UK Wind plc and Gore Street Energy Storage Fund plc, contributing to the decarbonisation of the UK electricity system.
• Provided primary capital to numerous companies with explicit environmental and social goals.

Social Achievements

• Supported RESI and PRSR in providing affordable housing in the UK.
• Consistently lowered average management fees on all funds.

Governance Achievements

• Actively engaged with Gabelli Value Plus + to ensure shareholder interests were upheld.
• Advocated for the Zero Discount Policy (ZDP) in investment trusts to protect minority shareholders.
• Engaged with KKV Secured Loan Fund to improve governance and ensure equitable outcomes for all stakeholders.

Climate Goals & Targets

Environmental Challenges

• Limited influence over government policies (in relation to government bonds).
• Difficulty in engaging with companies where holdings are relatively small (corporate credit).
• Balancing the need for standardized ESG reporting with the complexities of different asset classes.

Mitigation Strategies

• Focuses engagement efforts on areas where it has the most influence (listed closed-ended funds and listed property companies).
• Employs exclusions for sovereigns and corporate issuers that do not meet high ESG standards.
• Engages in tailored conversations with clients to address specific concerns and improve understanding.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UK Stewardship Code

Environmental Metrics

ESG Focus Areas

• ESG integration
• ESG scoring systems
• Ethical decision-making in investments

Climate Goals & Targets

Environmental Challenges

• Low correlation between different ESG rating providers.
• Potential for greenwashing.
• ESG problem assets being sold to bidders with lower ESG standards.
• Difficulty in scoring companies with assets implicated in human rights abuses (e.g., forced labor).

Mitigation Strategies

• Conducting detailed ESG due diligence.
• Accepting that ESG decisions are ultimately subjective.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Not disclosed

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

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

Environmental Metrics

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Environmental Challenges

• Systemic risks (financial crisis, pandemic, natural catastrophe, nuclear war, rapid climate change)

Mitigation Strategies

• Collaborative action, risk monitoring, engagement with collaborators, participation in UN PRI, UN Global Compact, Association of Investment Companies, and Investment Association

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Natural catastrophe

Reporting Standards

Frameworks Used: TCFD

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Climate Goals & Targets

Environmental Challenges

• Systemic risks (financial crisis, pandemic, natural catastrophe, nuclear war, rapid climate change)

Mitigation Strategies

• Collaborative action with other institutions (UN PRI, UN Global Compact, etc.)
• Careful risk monitoring

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Natural catastrophe

Transition Risks

• Rapid climate change

Reporting Standards

Frameworks Used: UN PRI, TCFD

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• CGAM co-owns a range of renewable energy projects across the UK and Europe. The power output from these renewable projects, pro-rated for our investment, is many multiples of the power consumed by the company.

Social Achievements

• CGAM is a living wage employer with exceptionally low staff turnover (only one leaver in the last five years).
• CGAM partners with IntoUniversity to offer data analyst apprenticeships, promoting diversity and inclusion.

Governance Achievements

• Majority owned by an Employee Ownership Trust (EOT), promoting long-term focus and employee participation.
• Regular responsible investment training for all staff via the UN PRI academy.

Climate Goals & Targets

Environmental Challenges

• Limited influence over governments and some corporate issuers.
• Securing and interpreting appropriate ESG data.

Mitigation Strategies

• Focuses engagement efforts where impact is maximized.
• Uses a combination of third-party indices and subjective assessments for sovereign exclusions.
• Employs exclusions for corporate issuers engaged in controversial activities.
• Collaborates with larger investor groups to address systemic risks.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: PRI, Stewardship Code, TCFD

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• Co-owns renewable energy projects with power output many multiples of company consumption.

Social Achievements

• Exceptionally low staff turnover (one leaver in five years), attributed to supportive culture and employee ownership trust.
• Accredited Living Wage employer.
• Partners with IntoUniversity for data analyst apprenticeships, promoting diversity.

Governance Achievements

• Majority owned by an Employee Ownership Trust (EOT), promoting long-term focus and employee participation.
• RI Committee meets quarterly, including members from all teams and chaired by CEO.
• All staff have completed responsible investment training.

Climate Goals & Targets

Environmental Challenges

• Limited influence over governments and some corporate issuers.
• Time constraints for engagement due to firm size.
• Need to balance engagement efforts for maximum impact.

Mitigation Strategies

• Prioritizes engagement where influence is greatest; exclusions used where influence is limited.
• Focuses engagement on governance improvements.
• Collaborates with other shareholders and third parties for systemic issues.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: PRI, Stewardship Code, TCFD

Environmental Metrics

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities