TIDMFSG
Foresight Group Holdings Limited
28 June 2023
PRESS RELEASE
Foresight Group announces inaugural sustainability report
-- Foresight Group today published its inaugural sustainability
report highlighting the company's long-term ambition, strategy and
key sustainability developments
-- The report features Foresight's launch of its proprietary
sustainability data platform: PACT ("Platform Advancing Change
Together") to enhance measurement and meaningful target setting
-- The report also highlights Foresight's development of a
"Nature Recovery Blueprint", a deliverable from Foresight's
Sustainability Partnership with the Eden Project launched in
2022
28 June 2023 : Foresight Group ("Foresight") is pleased to
announce the launch of its inaugural sustainability report
published today.
The report outlines Foresight's success in the delivery of
significant progress of their sustainability strategy and key
projects across the business and wider investment strategy. As one
of the pioneers of sustainable infrastructure investing,
sustainability is integral to Foresight's overall strategy.
The report provides key insight into key developments over the
FY23, long-term strategy, priorities and partnerships that will
further advance Foresight's approach to sustainability, across its
corporate business as well as across the three investment
divisions.
Key features of the report include:
-- Foresight's Carbon Reduction plan: Over the last four years,
Foresight Group has been measuring the company's corporate carbon
footprint covering Scope 1 and 2 emissions and material Scope 3
categories, including travel. In FY20, Foresight gained carbon
neutral status, which has since been maintained. In FY22 Foresight
worked with a third party to calculate emissions for the company's
investment portfolio for the first time. Over the last year,
Foresight stepped up efforts to gain better understanding of its
emissions data by implementing a new sustainability data
platform.
-- The launch of Foresight's sustainability data platform :
Known internally as PACT: "Platform Advancing Change Together",
Foresight now uses Salesforce's Net Zero Cloud application. This
will serve both the corporate business and private equity portfolio
of SMEs including the Private Equity division's new impact fund,
which supports Irish SMEs. Foresight will be able to capture
emissions data (Scopes 1, 2 and 3) produced by the Group and our
portfolio companies in line with the GHG protocol. PACT will also
enable all users to measure governance and social metrics such as
employment figures, Diversity, Equity, and Inclusion ("DE&I")
data, charitable giving, and engagement - all of which will be
explored over the coming year.
-- Foresight Sustainable Forestry Company Plc ("FSFC") became
the first company to receive the London Stock Exchange Voluntary
Carbon Market designation : FSFC is the first to receive this
designation. The VCM designation will be applied to funds or
operating companies that are admitted to the LSE's Main Market or
AIM and which are intent on investing into climate change
mitigation projects that are expected to yield voluntary carbon
credits. The credit offering revolutionises how companies can
offset their unabatable emissions. It transforms offsetting from a
one-way cost, into a positively contributing investment that can
deliver an attractive risk adjusted return on investment.
-- The Foresight and Eden Project Partnership Update: During the
first year of the partnership, Foresight and the Eden Project have
collaborated on the delivery of projects such as the "Nature
Recovery Blueprint," which will seek to guide land managers on the
practical actions they can take to measure, manage and improve
nature and biodiversity across their land holdings. Specific sites
among Foresight Solar's (FSFL) solar portfolio have been selected
as pilot projects, where targeted approaches to sustainable land
management and proactive, nature-focused interventions will be
applied to maximise biodiversity gain. Ultimately the relationship
with the Eden project is further testament to how cross-industry
collaboration can help businesses to foster innovation and take
collective action to mitigate the impacts of climate change and
address the nature crisis.
Meanwhile, Foresight's climate disclosure in line with the Task
Force on Climate-Related Financial Disclosures (TCFD) is due to be
published on 4th July in tandem with the company's annual
report.
Lily Billings, Head of Sustainability at Foresight said: "We are
really pleased to publish our inaugural Sustainability Report,
demonstrating sustainability progress across the corporate business
and our investment divisions in FY23. We are incredibly proud of
our achievements this year, from the work done in partnership with
the Eden Project to the launch of our sustainability data platform,
and the strategic investments made over the year to support the
wider sustainability transition. With more data, the PACT platform
will enhance our ability to further develop our Group
sustainability strategy and set ourselves more meaningful targets
and ambitions year on year. This report marks a critical step in
demonstrating our sustainability approach and advancements to our
stakeholders and we look forward to building on this momentum in
the years to come".
You can access the full Sustainability Report here .
-ENDS-
For more information contact:
Chloe Mead: cmead@foresightgroup.eu / +44 (0) 20 3911 1279
Michael Mpofu: michael.mpofu@citigatedewerogerson.com / +44 (0)
79 3268 1947
About Foresight Group ("Foresight")
Foresight Group was founded in 1984 and is a leading listed
infrastructure and private equity investment manager. With a
long-established focus on ESG and sustainability-led strategies, it
aims to provide attractive returns to its institutional and private
investors from hard-to-access private markets. Foresight manages
over 350 infrastructure assets with a focus on solar and onshore
wind assets, bioenergy and waste, as well as renewable energy
enabling projects, energy efficiency management solutions, social
and core infrastructure projects and sustainable forestry assets.
Its private equity team manages eleven regionally focused
investment funds across the UK and an SME impact fund supporting
Irish SMEs. This team reviews over 2,500 business plans each year
and currently supports more than 250 investments in SMEs. Foresight
Capital Management manages four strategies across seven investment
vehicles with an AUM of GBP1.3 billion.
Foresight operates in eight countries across Europe, Australia
and United States with AUM of GBP12.2 billion*. Foresight Group
Holdings Limited listed on the Main Market of the London Stock
Exchange in February 2021.
https://www.foresightgroup.eu/shareholders
*Based on Foresight Group unaudited AUM as at 31 March 2023
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END
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