Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced CO2 emissions by 4,566,409 metric tons in 2020 (equivalent to powering 526,934 houses or taking 986,543 cars off the road)
• California Flats Solar Farm serves as a model for clean energy production and land management, including mitigation agreements on 7,300 acres to protect sensitive species habitat.
• Implemented water-free panel washing trials to minimize water consumption.

Social Achievements

• 74% of employees reported satisfaction with work-life balance.
• 42 new hires in 2020 (50% women).
• US charitable contributions to CAL FIRE Benevolent Foundation and Colorado forest fire victims.
• UK community funds allocated to support vulnerable groups during the COVID-19 crisis.

Governance Achievements

• Established a Responsible Investment Committee in 2018.
• Implemented RepRisk in 2020 to monitor ESG risks.
• Developed an Approved Vendor List (AVL) Committee in 2020 for US projects.
• Signed SEIA’s Solar Industry Environmental and Social Responsibility Pledge in 2020.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to COVID-19.
• Hurricane Sally damage to Gulf assets.
• Data limitations in tracking water and waste across all assets.
• California rolling blackouts highlighting the need for grid resiliency.

Mitigation Strategies

• Transitioned to work-from-home during COVID-19.
• Collaborated with seller to remediate hurricane damage.
• Improved data collection processes for water and waste.
• Investing in battery energy storage systems to improve grid resiliency.

Supply Chain Management

Responsible Procurement

• Responsible Contractor Policy
• Approved Vendor List (AVL) Committee
• Use of SVTC Scorecard for solar panel suppliers
• Commitment to ethical sourcing of cobalt for battery storage systems

Climate-Related Risks & Opportunities

Physical Risks

• Hurricanes
• Flooding
• Wildfires

Opportunities

• Growth in energy storage and distributed generation.

Reporting Standards

Frameworks Used: GRI Standards: Core option

UN Sustainable Development Goals

• SDG 7: Affordable and Clean Energy
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 13: Climate Action

Investments in renewable energy, job creation, use of innovative technologies, and reduction of GHG emissions.

Awards & Recognition

• Private Equity International's Global Energy Private Equity Firm of the Year (2019)
• Finalist for Infrastructure Investor's European Renewable Deal of the Year (2019)
• S&P Global Platts' 2019 Financial Deal of the Year for Townsite Solar Project

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Removed all single-use plastic bottles from offices in 2019
• Sourced 100% of electricity from clean energy sources in 2019
• Issued first TCFD report in 2020

Social Achievements

• Formed ‘Truly invested in Communities’ committee in 2019 to manage charitable projects and matching gift program
• Implemented RepRisk in 2020 to monitor assets and third-party suppliers
• Formed several RI subcommittees in 2019 to target specific initiatives (Environment, Communities, Performance, Clients, and Diversity & Inclusion)

Governance Achievements

• Implemented RepRisk in 2020 to monitor assets and third-party suppliers
• Formed several RI subcommittees in 2019 to target specific initiatives (Environment, Communities, Performance, Clients, and Diversity & Inclusion)
• Awarded highest ranking (A+) in Strategy & Governance by PRI in 2020

Climate Goals & Targets

Environmental Challenges

• Limited ESG data available for private markets
• Managing ESG risks in diverse investment portfolios across different sectors and geographies

Mitigation Strategies

• Developed proprietary R-Eye™ Rating System for ESG assessment
• Implemented RepRisk for real-time ESG monitoring
• Established RI Committee for oversight and strategy implementation
• Annual ESG training for all employees
• Ongoing monitoring of investments and managers
• Collaboration with business partners and third-party service providers to minimize risks and enhance value

Supply Chain Management

Responsible Procurement

• RepRisk used to monitor third-party suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Adverse weather
• Flooding

Opportunities

• Investments in renewable energy

Reporting Standards

Frameworks Used: PRI, SDGs, TCFD

UN Sustainable Development Goals

• All 17 SDGs

R-Eye™ Rating System mapped to SDGs

Awards & Recognition

• A+ ranking in Strategy & Governance by PRI in 2020
• Five stars and named 'sector leader' in two categories by GRESB in 2019 for CEI fund

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced Scope 1 and 2 GHG emissions through renewable energy sourcing and offsets in London office and other locations.
• Renewable energy projects displace fossil fuels, contributing to a reduction in Scope 3 GHG emissions.

Social Achievements

• ESG analysis of project offtakers to ensure sound sustainability practices.
• Independent environmental impact assessments before and during project construction.
• EPC agreements include Modern Slavery Act and other ESG requirements.
• Worker Health & Safety plans and training programs for each project.

Governance Achievements

• Incorporation of ESG factors in investment appraisal, due diligence, and decision-making processes through the R-Eye™ assessment.
• Monitoring and assessment of counterparties and project offtakers for greenhouse gas emissions.

Climate Goals & Targets

Environmental Challenges

• Gathering data for all 14 mandatory ESG metrics required by the RTS for the first reference period (2022).

Mitigation Strategies

• Taking necessary preparations to gather, monitor, and report the mandatory principal adverse impact indicators within the specified timeframe.

Supply Chain Management

Responsible Procurement

• ESG analysis of equipment providers.
• EPC agreements include ESG requirements.

Climate-Related Risks & Opportunities

Opportunities

• Investments in renewable power and energy storage projects.

Reporting Standards

Frameworks Used: TCFD, GRI

Third-party Assurance: Quinn & Partners (or other reputable consultants)

Environmental Metrics

ESG Focus Areas

• Renewable Energy
• Responsible Investment
• ESG

Environmental Achievements

• Significantly reduced carbon emissions and improved air quality through clean energy investments in solar and wind projects.

Social Achievements

• Created jobs in local communities, supporting both economic stability and social development.

Governance Achievements

• Achieved #1 rankings across multiple GRESB benchmarks, demonstrating the strength of ESG processes and establishing leadership in Responsible Investment.

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRESB

Awards & Recognition

• 5-Star GRESB Rating
• 99 out of 100 GRESB score (Fund and Asset Level)