Thanks to our permanent capital our holding periods are not limited and we have a medium to long-term investment horizon. We have majority or significant minority stakes in our portfolio companies and are represented on their boards. This gives us the influence to drive long-term, sustainable growth in our portfolio.
We invest in businesses that benefit from structural trends which can support long-term sustainable growth in our portfolio. Our approach is flexible and can be adapted to take into account market, regulatory, policy, societal or environmental developments.
For example, over the last few years we have backed businesses that benefit from and have invested in the transition to a low-carbon economy, the achievement of a more sustainable consumption model through a circular economy and improved health and wellbeing, all of which can deliver positive impacts over the long term.
We approach investment origination and portfolio construction with great care. We make a limited number of new investments each year, with a clear focus on sectors and geographies where we have built a strong track record, in-house expertise and comprehensive networks. We can screen out opportunities that have an unsustainable impact on the environment and societies in which they operate, inconsistent with generating long-term value.
The rigorous assessment and management of ESG risks and opportunities is embedded in our investment, portfolio management and value creation processes. Our Responsible Investment policy, as interpreted and implemented by our Investment Committee, provides clear guidance to our investment professionals. We have also been signatories to the UN Principles of Responsible Investment since 2011.