Fengate Asset Management Unveils Its First Sustainability Report
Fengate Asset Management has just launched its first ever firmwide Sustainability Report. This important development highlights the company's strong commitment to environmental, social, and governance (ESG) principles. By recommitting to responsible operations, Fengate seeks to strengthen its impact on various stakeholders and the communities it serves.
Highlights of the 2023 Sustainability Report
The 2023 Sustainability Report presents a detailed overview of Fengate's initiatives and outcomes over the past year, focusing on key areas such as infrastructure, private equity, and real estate. In a step towards sustainability, Fengate formed a dedicated ESG and Sustainability team last year, establishing a solid and transparent ESG program.
Leadership Insights
Lou Serafini Jr., the President and CEO of Fengate, emphasized the importance of this report, saying, "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 statement truly captures the essence of Fengate's philosophy—balancing investment success with sustainability goals.
Key Achievements in the Sustainability Report
This Sustainability Report features several impressive accomplishments across different ESG dimensions:
Environmental Initiatives
Fengate has made notable progress in its environmental initiatives, achieving:
- A renewable energy generation capacity of 750MW, producing over 1.6 million megawatt hours of renewable energy, which sufficiently powered more than 160,000 homes.
- A remarkable 100% diversion rate for 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 in the Taskforce on Nature-related Financial Disclosures (TNFD) Forum and participation in the Canadian TNFD Consultation Group.
Social Contributions
Fengate has also implemented significant programs and initiatives to promote social responsibility, including:
- The launch of a formal responsible labor engagement program.
- The completion of six new schools and the delivery of 8,000 desks to the community in Prince George's County, Maryland.
- Enhanced Indigenous engagement initiatives through strategic investments and partnerships, such as collaborating 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 improved, as shown by:
- Increasing its infrastructure-specific Principles for Responsible Investment (PRI) score from 76 to an impressive 90 based on the 2022 baseline, greatly surpassing industry benchmarks.
- Being recognized as one of Canada's Best Managed Companies for the 16th straight year, reinforcing its leadership position in the industry.
- Inclusion in Canada’s Top 100 Small and Medium Employers for 2023, illustrating its dedication to employee satisfaction and workplace excellence.
Looking Ahead
Della Wang, the Director of ESG at Fengate, expressed her optimism regarding the future, stating, "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-thinking perspective underlines Fengate's goal to adapt its practices consistently and achieve even greater successes moving forward.
About Fengate Asset Management
Fengate is a prominent alternative investment manager with over $9 billion in capital commitments under management. The firm focuses on infrastructure, private equity, and real estate strategies. With operational offices in Ontario and Texas, Fengate leverages its extensive history and entrepreneurial spirit, spanning five decades, to deliver outstanding investment results for its 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 main focus of Fengate's Sustainability Report?
The report highlights Fengate's commitments and achievements in environmental, social, and governance (ESG) areas, showcasing its sustainable practices.
What are some key environmental accomplishments noted in the report?
Among its achievements, Fengate reached a renewable energy capacity of 750MW and achieved a 100% waste diversion rate, along with significantly reducing its greenhouse gas emissions.
How does Fengate engage with local communities?
Fengate has initiated several programs, including building schools and enhancing Indigenous engagement, as part of its commitment to social responsibility.
What recognition has Fengate received for its governance practices?
The company has been named one of Canada's Best Managed Companies for the sixteenth consecutive year and has scored highly on PRI benchmarks.
Where can I find more information about Fengate's investment strategy?
More details can be found on Fengate’s official website, which provides insights into their investment strategies and ESG initiatives.
