RCS - Foresight Group Hldg - Foresight launches inaugural sustainability report
28/06/2023 09:01
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RNS Number : 2218E 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
(https://foresight.group/climate-disclosure-fy23) 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
(https://foresight.group/sustainability-report-fy23) .
-ENDS-
For more information contact:
Chloe Mead: cmead@foresightgroup.eu (mailto:cmead@foresightgroup.eu) / +44 (0)
20 3911 1279
Michael Mpofu: michael.mpofu@citigatedewerogerson.com
(mailto: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 £1.3 billion.
Foresight operates in eight countries across Europe, Australia and United
States with AUM of £12.2 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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