BBGI promotes social characteristics. In accordance with its Article 8 SFDR classification, a minimum proportion of 75 per cent of our investments qualify as sustainable investments with a social objective, while we screen 100 per cent of our investments with the aim of ensuring that they do not significantly harm any environmental or social objective and follow good governance practices.
For further details, please see our SFDR Disclosures here.
BBGI is pleased to have been awarded the highest rating of 5 stars in the United Nations Principles for Responsible Investment (PRI) 2023 assessment for the Policy, Governance & Strategy and Infrastructure modules. The five stars rating reflects BBGI’s continued focus on integrating ESG considerations into all aspects of our investment lifecycle. BBGI has also been awarded a high rating of 4 stars for the Confidence building measures module.
BBGI has been a signatory to the PRI since 2019. The PRI, an independent body supported by the United Nations, is the world’s leading proponent of responsible investment, working to understand the investment implications of environmental, social and governance (ESG) factors, and to support its international network of investor signatories in incorporating ESG factors into their investment and ownership decisions.
2023 UN PRI Public Transparency Report
Please read full BBGI announcement here.
At BBGI, we are a proud Early Adopter of the United Nations Global Compact Communication on Progress. This is designed to add value and streamline sustainability reporting for all participating companies of the UN Global Compact. BBGI voluntarily opted to report under the ‘Enhanced’ framework this year, which will become mandatory as of 2023 for all signatories.
BBGI has been a signatory to the UN Global Compact since 2020 and proudly supports the Ten Principles of the United Nations Global Compact in the areas of Human Rights, Labour, Environment and Anti-Corruption. The UN Global Compact is a voluntary initiative based on CEO commitments to implement universal sustainability principles and to take steps to support UN goals.
Please read BBGI’s UN Global Compact Enhanced Communication on Progress here.
BBGI has been a Task Force on Climate-Related Financial Disclosures (‘TCFD’) supporter since 2020. In our 2021 Annual Report we have once again included voluntary disclosures in line with the TCFD recommendations. Overall, scenario analysis has highlighted that the majority of the BBGI portfolio is very resilient to climate hazards both today and under future climate warming scenarios.
For further details about our TCFD Disclosures and portfolio climate-risk assessment, please see our latest ESG Report, the latest for which can be found here.
As signatories to the NZAM, BBGI’s targets to reach net zero targets emissions across our portfolio by 2050 or sooner were set in line with the Paris-Aligned Investment Initiative Net Zero Investment Framework and the specific IIGCC guidance for the infrastructure sector, following a 1.5°C reduction pathway.
Our targets were validated and approved by the IIGCC in March 2023. While the guidance and tools to assess financed emissions and track progress towards net zero will evolve, we recognise our responsibility to ensure GHG emissions are adequately accounted for across our Corporate Emissions and Financed Emissions
For further details, please see our Net Zero Plan which can be found here.
The IIGCC Guidance for infrastructure assets can be found here.
The SDGs inform our entire ESG and social impact management process. Our investment strategy seeks to create measurable impacts facilitated by our investments and future acquisitions.
The SDGs are used to assess, measure and monitor that we keep investing beyond mere alignment and make a positive contribution to social and environmental outcomes.
1 Based on portfolio value as at 31 December 2022.
For further details about our SDG contribution, please see our latest ESG Report, the latest for which can be found here.
BBGI has been carbon neutral since 2021 and expects to maintain its carbon neutrality going forward. Corporate
emissions for 2019 and 2020, which were calculated in 2021, were retrospectively offset by planting trees and purchasing verified offsets. Our GHG emissions have been independently verified each year since our 2019 inventory. BBGI is a certified CO2 assessed organisation.
As a general principle, we do not use purchased offsets at the portfolio level to achieve our decarbonisation goals. We also do not offset emissions in one part of our portfolio through accounting for avoided emissions in another part. When using offsets, this is done only where there are no technologically or financially viable alternatives to eliminate emissions.
For further details about our approach to carbon neutrality and offsetting, please see our latest ESG Report, the latest for which can be found here.
In the latest ISS ESG Corporate Rating Report, BBGI’s ESG Corporate rating of B- places BBGI in the highest decile rank 1 (top 10%) versus our industry peer group.
ISS ESG also acknowledge BBGI for our “Very High” Transparency Level and we were awarded “Prime” Status, which means that BBGI fulfils ISS ESG's demanding requirements regarding sustainability performance in our sector.
BBGI’s very strong ESG rating was driven by a wide variety of strengths noted by ISS ESG, including BBGI’s sustainable investment criteria and responsible ownership activities, transparency on portfolio companies, environmental management, social and product responsibility, corporate governance and business ethics, and eco-efficiency.
In the latest Sustainalytics report BBGI’s ESG Risk Rating is deemed to be “Negligible Risk” and that the Company's overall ESG Risk Exposure is “Low”, while the Company’s overall Management of ESG Material Risk is deemed “Strong”.
BBGI is ranked 6 out of 890 in its Industry Group and 76 out of 14,667 in its Global universe (1st = lowest risk).
Sustainalytics is an independent ESG research and data provider. Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks.