REG - HydrogenOne Cap Gwth - SFDR Article 9 Fund and PRI signatory

Hydrogenone Capital GrowthAnnouncement

16/11/2022 07:00

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RNS Number : 5271G  HydrogenOne Capital Growth PLC  16 November 2022

THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OR SUBSCRIPTION OR SOLICITATION TO
PURCHASE SHARES IN ANY JURISDICTION.

16 November 2022

HydrogenOne Capital Growth plc SFDR Article 9 Fund and PRI signatory

HydrogenOne Capital Growth plc ("HydrogenOne" or the "Company"), the first
London-listed fund investing in clean hydrogen for a positive environmental
impact, is pleased to announce that it is now classified as an Article 9 Fund
under the EU Sustainable Finance Disclosure Regulation ("SFDR") and EU
Taxonomy Regulation ("EU Taxonomy").

SFDR Article 9 Fund and EU Taxonomy

The Article 9 classification means that the Company has a sustainable
investment objective. Through investing, directly or indirectly, in a
diversified portfolio of hydrogen and complementary hydrogen focused assets,
HydrogenOne contributes to climate change mitigation and integrates core ESG
principles into its decision making and ownership process. As part of the new
classification, the Company will be reporting greenhouse gas emissions and
avoided greenhouse gas emissions on an annual basis in its annual financial
reports.

The economic activity of each private investment of the Company has been
mapped to the EU Taxonomy and assessed against the relevant do no significant
harm and minimum safeguards criteria. The Company's private portfolio is 75%
aligned with the EU Taxonomy and meets the following criteria:

·      Positively contributes to climate change mitigation, monitored
through greenhouse gas emissions and avoided greenhouse gas emissions;

·      "Do No Significant Harm" to any of the environmental objectives
in the EU Taxonomy and the Company's sustainable investment objective. In
making this assessment the material adverse indicators in Annex I of the
Regulatory Technical Standards to the Sustainable Finance Disclosure
Regulation have been assessed; and

·      Complies with minimum safeguards requirements, which reference
the OECD Guidelines for Multinational Enterprises and the UN Guiding
Principles on Business and Human Rights.

Some investments may be transitioning from other activities to focus on
hydrogen which can result in some economic activity not being EU
taxonomy-aligned. All non-aligned activity (i.e. 25% activities at investee
companies that don't align to the EU Taxonomy) has also been assessed and does
no significant harm to the objectives of the EU Taxonomy and the sustainable
investment objective. It is expected that the non-aligned activity of the
current portfolio will reduce as a proportion of overall activity as the
investees pursue the hydrogen business lines.

The Company will report on key metrics in the 31 December 2022 annual report
ahead of the regulatory requirement for periodic reporting coming into force
from 1 January 2023. As part of the current requirements, the Company has
published disclosures which outline how the Company aligns with the regulation
and Article 9 classification, which can be accessed on the Company's website:

·    Annex III - pre-contractual disclosure:

https://hydrogenonecapitalgrowthplc.com/wp-content/uploads/2022/11/SFDR-RTS-Annex-III-Pre-contractual-disclosure.pdf
(https://hydrogenonecapitalgrowthplc.com/wp-content/uploads/2022/11/SFDR-RTS-Annex-III-Pre-contractual-disclosure.pdf)

 

·    Chapter IV - website disclosure:

https://hydrogenonecapitalgrowthplc.com/wp-content/uploads/2022/11/SFDR-RTS-Chapter-IV-Website-disclosures.pdf
(https://hydrogenonecapitalgrowthplc.com/wp-content/uploads/2022/11/SFDR-RTS-Chapter-IV-Website-disclosures.pdf)

 

PRI signatory

The Company is also pleased to report that as part of its commitment to
sustainable investing, it has signed the United Nations-supported Principles
for Responsible Investment ("PRI"). PRI is recognised as the leading global
network for investors who are committed to integrating ESG considerations into
their investment practices and ownership policies. During the year, the
Company will focus on the documentation to satisfy the annual PRI reporting
requirements.

Chairman of HydrogenOne, Simon Hogan, commented:

"Our commitment to investing in clean hydrogen for a positive environmental
impact is at the core of everything we do at HydrogenOne. Therefore, we are
delighted to now be classified as an Article 9 Fund, the highest
classification under the SFDR, and to become a signatory of the PRI. In just
over a year, we have seen the conversation around hydrogen's potential for
fuelling the global energy transition jump to the top of the climate and
political agenda. With our new certifications and signatories, we will push
forward with our sustainable investment objectives as we continue to deploy
capital in the over £500 million of opportunities we have identified."

Chief Executive Officer at the PRI, David Atkin, commented:

"We're pleased to welcome HydrogenOne as a signatory to the PRI. Now, more
than ever, it is vital for responsible investors to come together to work
towards common goals, for the benefit of the planet and our society. We look
forward to working alongside HydrogenOne to realise these goals."

FCA Sustainability Disclosure Requirements (SDR) and investment labels

The Company notes the FCA issued a consultation on their SDR rules in October
2022. These rules provide three labels for investment funds: Sustainable
Focus, Sustainable Improvers and Sustainable Impact. The Company is currently
reviewing the consultation and will consider the appropriate action to take
when the rules are finalised (expected H1 2023).

 

 

The Company's LEI is 213800PMTT98U879SF45.

 

For further information, please visit www.hydrogenonecapitalgrowthplc.com
(http://www.hydrogenonecapitalgrowthplc.com) or contact:

 

 HydrogenOne Capital LLP - Investment Adviser              +44 20 3830 8231
 Dr. JJ Traynor/Richard Hulf

 Eva Bezruchko

 Panmure Gordon - Corporate Broker and Financial Adviser
 Tom Scrivens                                              +44 20 7886 2500

 Alex Collins

 FTI Consulting - Media Enquiries                          +44 20 3727 1725

 Matthew O'Keeffe                                          +44 78 1492 1439

 Cally Billimore                                           hygen@fticonsulting.com

 

About HydrogenOne:

HydrogenOne is the first London-listed hydrogen fund investing in clean
hydrogen for a positive environmental impact. The Company was launched in 2021
with an investment objective to deliver an attractive level of capital growth
by investing in a diversified portfolio of hydrogen and complementary hydrogen
focussed assets. INEOS Energy is a strategic investor in HydrogenOne. The
Company is listed on the London Stock Exchange's main market (ticker code:
HGEN). The Company is an Article 9 climate impact fund.

IMPORTANT NOTICE

This announcement does not constitute an offer to sell, or the solicitation of
an offer to acquire or subscribe for, shares in the Company in any
jurisdiction. The distribution of this announcement outside the UK may be
restricted by law. No action has been taken by the Company that would permit
possession of this announcement in any jurisdiction outside the UK where
action for that purpose is required. Persons outside the UK who come into
possession of this announcement should inform themselves about the
distribution of this announcement in their particular jurisdiction.

This announcement contains (or may contain) certain forward-looking statements
with respect to certain of the Company's plans and/or the plans of one or more
of its investee companies and their respective current goals and expectations
relating to their respective future financial condition and performance and
which involve a number of risks and uncertainties. The Company cautions
readers that no forward- looking statement is a guarantee of future
performance and that actual results could differ materially from those
contained in the forward- looking statements.

 

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