Climate Change Data

BluePeak Private Capital Fund

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Inclusivity
  • Resilience
  • Climate Action
  • Gender Equality
  • Quality Jobs Creation
  • Climate Risk Mitigation

Environmental Achievements

  • 14% reduction of CO2 emissions (Grit)
  • 43% increase in energy use from renewable resources (iENG)
  • Initiatives in energy efficiency and reduction of electricity consumption (Grit), targeting 25% reduction in CO2 emissions by 2025

Social Achievements

  • 7,500 full-time equivalent employees
  • 40% more FTE female employees
  • 21% FTE employees in leadership positions
  • 85% local employees as a percentage of the local workforce (across Grit and Africure)
  • 53 million units of malaria drugs sold (Africure)
  • 48 million units of chronic diseases medicines sold (Africure)
  • 150,000+ motorbikes financed (Watu)
  • 29,800 sites maintained and 700 sites built in 2022 (iENG)
  • USD 40,000 supported BuildHer, a Kenyan-based NGO, to sponsor the training of women on development sites (Grit)

Governance Achievements

  • 75% of investee companies have females on the board of directors
  • 21% of female employees on board of directors
  • Alignment with Article 8 requirements of the Sustainable Finance Disclosure Regulation (SFDR)
  • Signatories to the Principles for Responsible Investment (PRI) and Operating Principles for Impact Management (Impact Principles)
  • Qualifying as a 2X Challenge fund

Climate Goals & Targets

Long-term Goals:
  • Grit: Become a net-zero carbon business
Medium-term Goals:
  • Grit: Achieve a 25% reduction in CO2 emissions, a 25% reduction in water consumption, and a 25% improvement in building efficiency by 2025
Short-term Goals:
  • Commission an external consultant to audit the disclosure statement and ensure alignment with the 9 principles of the Operating Principles for Impact Management
  • Establish climate policies and procedures and work on a tool to measure GHG emissions for BluePeak and portfolio companies
  • Develop and implement a CSR program focusing on women's empowerment, environmental sustainability, and community well-being

Environmental Challenges

  • Difficulty obtaining capital for ambitious businesses in emerging markets
  • Impact lacks harmonization and consistency when it comes to setting targets and measuring outcomes across various sectors and geographies.
Mitigation Strategies
  • Developed a robust framework for setting and monitoring sustainability outcomes across the portfolio
  • Established a six-month climate project with a UK-based consultancy firm to establish a Climate Policy and develop a tool to measure GHG emissions.
  • Using the Operating Principles for Impact Management to establish a reliable framework aligned with broader industry standards.

Supply Chain Management

Responsible Procurement
  • Minimizing carbon footprint through renewable energy infrastructure (iENG)
  • Striving towards zero wastage of materials in production (iENG)

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events such as droughts and floods, changing rainfall patterns, and rising sea levels
Opportunities
  • Development of energy-efficient products and renewable energy infrastructure

Reporting Standards

Frameworks Used: IFC Sustainability Framework, UN Sustainable Development Goals, European Development Financing Institutions’ Exclusion List, British International Investment’s fossil fuel policy, International Labour Organisation’s Basic Terms and Conditions of Employment, World Bank’s General EHS Guideline, African Development Bank Group’s Integrated Safeguards System, EU Sustainable Finance Disclosure Regulations, Principles for Responsible Investment (PRI), Operating Principles for Impact Management, IRIS+, HIPSO, TCFD

Certifications: ISO 14001 (Africure), ISO 45001 (Africure), WHO GMP licenses (Africure), ISO 22301:2019 (iENG)

UN Sustainable Development Goals

  • SDG 5
  • SDG 8
  • SDG 13

Contributions to SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 13 (Climate Action) through investments and initiatives.