We have launched our first ESG report in which we review the progress made in 2020 across sustainability, D&I and community, as well as setting out ambitious plans for the year ahead.
The report, titled Taking Responsibility, looks back on the achievements made at NorthEdge and across the portfolio.
These including gaining the United Nations supported Principles for Responsible Investment A+ status for Strategy and Governance for the third year running, placing us in the top 12% of all private equity firms with <$1bn AUM in this category, and gaining A status for the Direct Private Equity Assessment for the sixth consecutive year.
We have also offset 100% of our scope one and two carbon emissions in 2020, following our commitment to becoming carbon neutral in 2019.
The report also outlines the commitments we are making in 2021 to further improve our ESG credentials – including the introduction of an internal data platform for portfolio ESG metric gathering, assessment and targeting.
The platform will provide a quantitative, portfolio-wide view of ESG metrics including sustainability, climate risk and diversity, helping us to make faster and more informed decisions on important ESG-related initiatives and monitor the impact of our portfolio over time.
We have refreshed our Investment Committee papers, bringing supply chain sustainability, climate change, diversity and alignment with the United Nations Sustainable Development Goals upfront in our investment reports. This provides greater visibility, analysis and debate of ESG and sustainability in the assessment of new investment opportunities at NorthEdge from the outset.
This is the first report of its kind for NorthEdge, which we hope provides greater insight to our portfolio, investors and stakeholders on the progress we are making on ESG, Sustainability and D&I. it is also an opportunity to showcase initiatives taking place across the portfolio.
Ray Stenton, Managing Partner at NorthEdge, said: “Transparency is crucial for matters relating to ESG. We want to show our community that we are committed to challenging ourselves as employers and investors to do better every year. We also want to lead by example for our portfolio companies.
“Since our inception in 2012 we have embraced ESG, becoming signatories to the United Nations-backed Principles for Responsible Investment at the start of our journey, which is one of the reasons we’ve made so much progress over the years. But we also understand that the world is changing at pace, and we must continue to evolve.
“Our portfolio companies have also made great progress on their own ESG initiatives, a core component of their Value Creation Plans, which we’re pleased to be able to share. Knowing that we are not only backing commercially strong businesses, but also businesses that are committed to improving the impact they have on our climate and society is inspiring.
“By producing an annual report, we hope we can share ESG best practice and learnings across our community, while setting ourselves our own benchmarks to improve against.”
Click here to read the report.