Pillar one: process Governance Principle We will embed consideration of climate change risks within our business strategy and policies, and ensure that these risks, together with the objective of climate change mitigation, become fully incorporated into our investment process; and that these considerations are clearly registered and recognised as a Board responsibility. Success criteria The Board ensures that the risks and impact of the portfolio on climate change mitigation is regularly reported against predetermined criteria, following international taxonomies. The recommendations of the TCFD will guide and inform our approach. We will complete an annual integrated assessment model (IAM) in the form of a SWOT (strengths, weaknesses, opportunities, threats) analysis, with focus placed on the economic opportunities and threats resulting from the climate emergency. We will regularly consult and report to investors to ascertain their views on investments made into green products and services. For firms already operating, with functioning investments, the Board reassesses the investment strategy that has been employed thus far and reconsiders it with respect to the climate emergency, and these principles. The Board regularly reviews and considers climate change risks and their impact on the portfolio and investment strategy. The Board ensures that climate change risks are given proper consideration at every stage of an investment’s lifecycle, from the raising of funds and due diligence, through to the investment, holding period and later exit process. The Board will oversee this process, at every stage. The Board and GP are open to ‘active-ownership’, when LPs/investors are attempting to forward investments that have a substantially positive impact on mitigation of the climate crisis.
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