Fengate Asset Management Launches First-Ever Sustainability Report

Fengate Asset Management Launches First-Ever Sustainability Report

Fengate Asset Management has recently unveiled its inaugural firmwide Sustainability Report, a significant milestone that reflects the company's unwavering commitment to environmental, social, and governance (ESG) practices. By reinforcing its dedication towards responsible operations, Fengate aims to enhance its impact on stakeholders and communities alike.

Overview of the 2023 Sustainability Report

The 2023 Sustainability Report captures a comprehensive view of Fengate's initiatives and performance throughout the year, covering focal areas across its infrastructure, private equity, and real estate sectors. As a testament to its evolving approach towards sustainability, Fengate established a dedicated ESG and Sustainability team in the previous year, laying the foundation for a robust and clear ESG program.

Insights from Leadership

Lou Serafini Jr., President and CEO of Fengate, emphasized the significance of this report, stating, "For 50 years, Fengate has been dedicated to acting responsibly on behalf of our stakeholders. This sustainability report is a testament to our ongoing commitment to integrating ESG principles into every investment decision we make." His words encapsulate the essence of Fengate's operational philosophy, which harmonizes investment success with sustainability goals.

Key Highlights from the Sustainability Report

The Sustainability Report showcases several commendable achievements across various dimensions of ESG:

Environmental Initiatives

Fengate has made strides in its environmental initiatives, achieving:

• A renewable energy generation capacity of 750MW, which produced over 1.6 million megawatt hours of renewable energy, sufficiently powering more than 160,000 homes.
• A remarkable 100% diversion rate of commercial property waste from landfills.
• A 25% reduction in greenhouse gas emissions across the firm’s office properties, translating to net energy savings of 4,561,881 kWh.
• Membership as a Taskforce on Nature-related Financial Disclosures (TNFD) Forum Member and as part of the Canadian TNFD Consultation Group.

Social Contributions

In terms of social responsibility, Fengate has rolled out significant programs and initiatives, including:

• The introduction of a formal responsible labor engagement program.
• The completion of six new schools and the delivery of 8,000 desks for the community in Prince George's County, Maryland.
• Enhanced Indigenous engagement initiatives through thoughtful investments and partnerships, such as collaboration with The Gord Downie & Chanie Wenjack Fund, alongside a focus on diversity and inclusion through its Equity, Belonging, Inclusion and Diversity (EBID) Think Tank.

Governance Achievements

Fengate's governance framework has also seen improvements, reflected in the following:

• Elevation of its infrastructure-specific Principles for Responsible Investment (PRI) score from 76 to an impressive 90 based on the 2022 baseline, significantly outperforming industry averages.
• Being recognized as one of Canada's Best Managed Companies for the 16th consecutive year, further asserting its position as a leader in the sector.
• Inclusion in Canada’s Top 100 Small and Medium Employers for 2023, showcasing its commitment to employee satisfaction and workplace quality.

Looking to the Future

Della Wang, Director of ESG at Fengate, expressed optimism about the future, noting, "Our inaugural sustainability report reflects Fengate's deep-rooted commitment to ESG. We are proud of the progress we have made and are excited about the opportunities for continuous improvement in the years ahead." This forward-looking perspective emphasizes Fengate's desire to evolve its practices continually and achieve even greater milestones.

About Fengate Asset Management

Fengate is a distinguished alternative investment manager with over $9 billion in capital commitments under management, focusing on infrastructure, private equity, and real estate strategies. With operational bases in Ontario and Texas, Fengate leverages its extensive history and entrepreneurial spirit, which spans five decades, to drive exceptional investment outcomes on behalf of clients.

Media Contact

Maddison Sharples
Director, Marketing and Communications, Infrastructure
Fengate Asset Management
+1 416 254 3326
Maddison.Sharples@fengate.com

Frequently Asked Questions

What is the purpose of Fengate's Sustainability Report?

The report outlines Fengate's commitments and achievements in environmental, social, and governance (ESG) areas, highlighting its sustainable practices.

What are some environmental highlights from the report?

Fengate achieved a renewable energy capacity of 750MW and a 100% waste diversion rate, along with significant reductions in GHG emissions.

How does Fengate engage with local communities?

Fengate has implemented initiatives, such as building schools and enhancing Indigenous engagement, as part of its social responsibility efforts.

What recognition has Fengate received for its governance practices?

The firm was recognized as one of Canada's Best Managed Companies for the sixteenth year in a row and scored highly on PRI benchmarks.

How can one learn more about Fengate's investment strategy?

Further information can be accessed through Fengate’s official website, offering insights into their investment strategies and ESG initiatives.

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