BBGI Global Infrastructure S.A.
BBGI Global Infrastructure S.A. is a global infrastructure investment company, and a constituent of the FTSE 250, helping to provide the responsible capital required to build and maintain critical social infrastructure. From hospitals to schools, to affordable housing and safer roads, we partner with the public sector to deliver social infrastructure that forms the building blocks of local economies, while achieving sustainable value for all stakeholders. BBGI joined the Net Zero Asset Managers Initiative in September 2021 and made its Initial Target Disclosure in March 2023.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $1.298 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio coverage baseline
As our net zero commitment and tracking of assets commenced in 2021, we do not have sufficient information to provide an assessment of the % of assets which were aligned or aligning to net zero in 2019. Based on the available information we estimate that 0% of our portfolio was aligned or aligning to net zero in 2019.
Engagement threshold baseline
As our net zero commitment commenced in 2021, our engagement on GHG reductions with portfolio companies had not started in 2019. Based on the available information we estimate a baseline of 0%.
Target(s):
Portfolio coverage target
We aim 70% of our AUM to be net zero, aligned, or aligning to net zero by 2030.
Portfolio coverage target
We have a goal to have 100% of our AUM to be net zero or aligned to net zero by 2040.
Engagement threshold target
We aim 90% of our financed emissions are subject to direct or collective engagement and stewardship actions by 2030.
GHG scopes included:
All of our targets cover portfolio companies’ Scopes 1, 2 and to the extent possible material Scope 3 (when they are material to the portfolio company). 100% of portfolio companies are requested to report Scope 1, 2 and to the extent possible material Scope 3 from 2022 onwards. BBGI will disclose the portfolio Scope 1, 2 and 3 in accordance with the GHG Protocol operational control approach. If a portfolio company does not disclose this information or when the data is not available, it is estimated where possible.
Methodology:
Net Zero Investment Framework
Scenario(s):
Our targets align with the recommendations from the IPCC special report on global warming of 1.5°C.
Additional information
Policy on coal and other fossil fuel investments:
As defined in BBGI’s list of excluded activities (going beyond coal and other fossil fuel investments), BBGI does not hold any coal, oil-based or fossil-fuel-related assets in its portfolio. Our exclusion policy applied to 100% of AUM.
BBGI applies the following exclusions while screening an investment opportunity:
– exploration, mining, extraction, distribution (including transportation, storage, and trade), or refining of coal and lignite;
– exploration, extraction, distribution (including transportation, storage, and trade), or refining of oil or any other form of liquid fossil fuels;
– exploring, extraction (including storage, and trade) of gas, or any other form of fossil gaseous fuels.
Our exclusion policy is detailed in our ESG & Sustainability Risk Policy.
Further information:
Our ESG & Sustainability Risk policy details how ESG integrates into all aspects of the social infrastructure investment cycle. It describes our SDG-aligned investment approach, exclusion policy, approach to ESG integration into our investment and operating model, approach to sustainability risk, approach to conflicts of interest, and approach to political influence.
Our Net Zero Plan focuses on reducing our carbon footprint that pertains to our Corporate Emissions and our portfolio. It describes our approach, commitments, scope and boundaries, targets and pathways in more detail.
Our ESG report, ESG & Sustainability Risk policy and Net Zero Plan presents our progress and achievements towards our targets.