HitecVision
HitecVision is a leading provider of institutional capital to Europe’s energy industry, helping build successful companies within renewable energy, energy infrastructure, and the energy transition. In the past HitecVision has also invested in the oil and gas industry. HitecVision joined the Net Zero Asset Managers Initiative in January 2022 and made its Initial Target Disclosure in February 2023.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
20% of total AUM (USD $1.1 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
0% of portfolio companies setting a Science Based Target.
Target(s):
100% of portfolio companies setting a Science Based Target.
GHG scopes included:
Scope 1 and 2: All emissions by the Firm’s portfolio companies. Scope 3: All significant emissions by the portfolio companies. Some offsets may be required
Methodology:
Science Based Target initiative for Financial Institutions
Scenario(s):
IEA Net Zero Emissions by 2050 (NZE) scenario.
Additional information
Proportion of AUM committed:
HitecVision is a specialized energy sector private equity investor. We have historically been focused on the oil and gas industry, and 80% of AUM is thus related to older private equity funds with investment mandates specifically aimed towards the oil and gas industry. We have now decided that all our new funds and investments will be in companies that contribute to the energy transition. Our most recent fund, amounting to 20% of AUM, has a pure renewables / energy transition mandate. Future funds are not expected to have oil and gas mandates, and the proportion managed in line with net zero will thus increase over time as new funds are raised and old investments are realized.
Policy on coal and other fossil fuel investments:
HitecVision is a specialist energy investor, and has historically focused on the oil and gas industry. We have now decided that all our new investments will be in companies that contribute to the energy transition. Our most recent fund has a pure renewables / energy transition mandate, and we aim for all future funds to have largely the same strategy. To the extent that prior funds still have portfolio companies active in the oil and gas industry, these will be supported towards an eventual exit, in line with normal PE practice.
Further information: