We engage with multiple rating providers that assess our ESG performance based on their own methodologies. The summary of our ratings as at 08 May 2023 (except where indicated) is as follows:
|CDP||Climate change score: B Supplier engagement score: A-||A to D-|
|S&P Global CSA||48 (92nd percentile)||0-100 (higher scores are better)|
|FTSE Russell||3.8 (81th percentile)||0 to 5 (higher scores are better)|
|ISS ESG||ISS ESG Corporate Rating: B-||D- to A+|
|Morningstar Sustainalytics1||11.1 Low Risk||from Negligible (0-10) to Severe (40+)|
1. As at September 2022. Copyright © 2023 Morningstar Sustainalytics. All rights reserved. This section contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers
3i is a member of FTSE4Good Index Series and of the Solactive Europe Corporate Social Responsibility Index.
We have been signatories to the UN Principles for Responsible Investment (‘UN PRI’) since 2011. 3i’s scores for the 2021 UN PRI assessment report were 4* for Investment and Stewardship policy (scoring of 70% vs median of 60%), 4* for Private Equity (scoring of 85% vs median of 66%) and 5* for Infrastructure (scoring of 93% vs median of 77%). The UN PRI did not perform an assessment in 2022 and this scoring is therefore based on 2020 data.
We collaborate with industry peers on a number of initiatives on sustainability, with the objective of developing best practice, industry standards and consistent measurement frameworks. We also view these industry collaborations as opportunities to learn from experts and our peers to reﬁne our own understanding and approach to some of these issues.
In July 2022, we joined the Initiative Climat International (‘iCI’), a global, practitioner-led community of over 200 private markets ﬁrms and investors representing over US$3.2 trillion in AUM that seek to improve the understanding and management of the risks associated with climate change. Since joining the group, we have contributed our feedback towards the guide published by iCI and the BVCA for the private equity industry on the implementation of TCFD (TCFD Implementation Considerations for Private Equity) and joined the working group in relation to developing the guidance for the calculation of the Scope 3 emissions of portfolio companies and on the development of decarbonisation strategies.
3i is also a member of the PFI Net Zero Working Group, working with the Infrastructure and Projects Authority in the UK to develop an industry-wide approach to emissions disclosure and to net zero for the PFI/PPP investment industry.
We participate in a number of working groups for the BVCA and Invest Europe to develop responses to new regulation impacting the investment industry, including the EU’s SFDR and the UK’s SDR. Our representation in these working groups ensures that regulators are provided with relevant feedback from the private markets industry as they develop their regulatory regimes. We also contributed to the drafting of a guide by the ICAEW and Deloitte entitled ‘ESG in Deals and Investment’.