Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Gender Equality
• Job Quality and Diversity
• Sustainability of Operations

Environmental Achievements

• Herholdt's delivered more than 100,000 solar panels in 2021, saving close to 40,000 teqCO2.
• Adenia Partners committed to become net zero by 2027.
• For all new investees, targets were defined to reduce CO2 intensity in the 12 months post-acquisition.

Social Achievements

• Adenia committed that 30% of Investment Committee members and 40% of its investment team and staff will be women by 2026.
• Adenia developed policies and programs to promote inclusive recruitment, transparent evaluation, equal pay, inclusive working conditions, and fight against harassment and unconscious bias.
• 58% of Adenia staff, 38% of Adenia investment team and 25% of Partners are women.
• Investees Herholdt’s and Quick Mart developed tailored gender action plans.
• 56% of AC(IV) companies are aligned with 2X Challenge criteria.
• 41% of AC(III) and AC(IV) investee employees are women.

Governance Achievements

• Adenia developed an in-house Impact Measurement and Management framework.
• Adenia’s continuous work to improve its impact strategy and methodology was recognized by various bodies including Global Private Capital Association and CDC, UNPRI, and Operating Principles for Impact Management.

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impacted investee companies and supply chains.
• Supply chain disruptions due to global pandemic.
• Limited women representation in some investee companies.

Mitigation Strategies

• Adenia collaborated with investee management teams to navigate Covid-19 impacts.
• Investee companies implemented business continuity plans.
• Investee companies implemented safety protocols and Covid-19 measures.
• Investee companies developed gender action plans to address gender gaps.

Supply Chain Management

Responsible Procurement

• Focus on local sourcing where possible
• Partnerships with reputable suppliers

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Operating Principles for Impact Management, UN Principles for Responsible Investment, UN Sustainable Development Goals, Impact Management Project, 2X Challenge criteria, GHG protocol

Certifications: ISO 9001, ISO 14001, ISO 45001, ISO 22000, HACCP, PCI DSS, MPS environment A, Kenya Flower Council Silver Standard (F.O.S.S.)

UN Sustainable Development Goals

• SDG 5
• SDG 8
• SDG 9
• SDG 13

Adenia's investments aim to improve job quality and diversity, and increase the sustainability of operations.

Awards & Recognition

• ESG Performance Award (CDC and GPCA)
• Woman Investor Award (EAVCA)
• East Africa Leadership Award (EAVCA)

Environmental Metrics

ESG Focus Areas

• Job Quality and Diversity
• Sustainability of Operations
• Gender Equality
• Climate Change

Environmental Achievements

• 58% of portfolio companies achieved international standards certifications.
• Investees implemented resource efficiency programs, including solar power solutions, waste management, and water saving schemes.
• Red Lands Roses generates 20% of its energy needs from renewable power sources (Solar PV).
• Herholdt’s warehouses use rooftop solar PV systems supplying the majority of operational energy.

Social Achievements

• Increased gender equity with more women managers and workforce representation.
• Adenia formalized its gender policy and recruitment procedure to align with 2X Challenge criteria.
• Investees implemented tailored gender policies and action plans.
• 44% of Adenia Capital (IV) investees aligned with one or more 2X Challenge Criteria.

Governance Achievements

• Adenia integrated ESG considerations into its investment process, incorporating internationally accepted ESG standards and frameworks (IFC Performance Standards, BII’s Code of Responsible Investment, FMO ESG toolkit, Operating Principles for Impact Management, UN Principles for Responsible Investment, UN Sustainable Development Goals, 2X Challenge criteria, GHG Protocol).

Climate Goals & Targets

Environmental Challenges

• Limited data on some ESG metrics at acquisition for Adenia Capital (III) and (IV).
• Economic challenges in Ghana impacting Cresta's operations and workforce.
• Climate change vulnerability in Africa.

Mitigation Strategies

• Retroactive scoring with conservative assumptions for unavailable metrics.
• Salary adjustments and revised incentive structures at Cresta to address inflation.
• Adenia's commitment to carbon neutrality by 2027 and CO2 intensity reduction for portfolio companies.

Supply Chain Management

Responsible Procurement

• Sourcing from sustainable sources (e.g., recycled paper, sustainable forests at Newpack).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFC Performance Standards, BII’s Code of Responsible Investment, FMO ESG toolkit, Operating Principles for Impact Management, UN Principles for Responsible Investment, UN Sustainable Development Goals, 2X Challenge criteria, GHG Protocol

Certifications: ISO 9001, ISO 14001, ISO 45001, MPS environment A, Kenya Flower Council Silver Standard (F.O.S.S.), Forest Stewardship Council

UN Sustainable Development Goals

• SDG 5
• SDG 8
• SDG 9
• SDG 13

Adenia's impact framework aligns with these SDGs through job quality, diversity, sustainability of operations, and climate action.

Awards & Recognition

• Gender/Diversity Award (GPCA) for Red Lands Roses investment.
• ESG Investment Initiative of the Year - Africa (Environmental Finance) for Red Lands Roses.
• Project/Investment of the Year for Agriculture and Sustainable Land Use (Environmental Finance) for Red Lands Roses.