Since our inception in 2012, building better, more sustainable businesses has been central to how we create value at NorthEdge. We do this because it’s the right thing to do, and because it makes businesses more resilient and more valuable for all of our stakeholders. Our latest report reflects another year of progress against that belief. As first-time institutional investors for many of the founders and management teams we back, we see our role as helping good businesses become better ones. We believe that, when grounded in materiality, sustainability and responsible investing are not a constraint on returns but a driver of them. This year we have sharpened that focus further – concentrating our time, influence and data on the factors that genuinely create value and build resilience across our