ESG
AltamarCAM strives to become a driver of positive change in the financial sector and society, placing sustainability and integrity at the core of the firm’s daily activity
ESG Governance
The existence of a robust ESG management structure is key to sophisticated decision making and the implementation process of ESG procedures to ensure successful permeation at all organizational levels. With that purpose, AltamarCAM has reinforced its ESG governance model, including oversight and implementation responsibilities involving top management, in which the following levels are distinguished:
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C-Level Members
ESG Committee chaired by AltamarCAM’s Co-Chair and Private Equity Co-Head, reports to the Board and is responsible for the definition and oversight of the ESG strategy and Action Plan.
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Senior Executives
ESG Steering Group provides support and knowledge to the different Working Groups that carry out cross-team initiatives included in the Action Plan.
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Cross-Team Members
ESG Team responsible for the implementation of ESG plans, led by the Chief ESG Officer. In charge of ensuring the alignment of the Firm’s efforts with the main pillars of the ESG strategy.
This organizational structure enables an efficient ESG workflow and strategy execution, favouring the achievement of AltamarCAM’s objective to become a recognized ESG leader in the alternative asset industry.
Climate Change and Carbon Neutrality
The protection of the environment and the fight against Climate Change are fundamental priorities for AltamarCAM.
Accordingly, the firm is fully committed to the Paris Agreement and the EU Green Deal. Also, AltamarCAM has recently become supporter of three climate leading initiatives (TCFD, IIGCC and ICI)* aiming to develop recommendations for more effective climate-related disclosure
The firm is taking the required steps to progressively decarbonize its activities and has calculated its Carbon Footprint (Scopes 1, 2 and reduced Scope 3 – business travel and employee commuting) for 2019, 2020 and 2021, having achieved carbon neutrality in its operations for all offices during these years.
Operational emissions offset
Biogas Plant project, in Asia
Energy efficient stoves project, in Africa
Hydroelectric plant project, in Chile
Reforestation project, in Spain
Mangrove reforestation project, in Cambodia
AltamarCAM’s Forest, in Spain
We would like to highlight that, from this year on, we have initiated our own AltamarCAM forest, in Pontevedra (Spain), which we will continue to develop on a yearly basis. This project also creates impact at a social level through labour reintegration in collaboration with the Red Cross
Additionally, reduction measures will be implemented to ensure the consolidation of carbon neutrality across the firm and to promote a culture of sustainability beyond offsetting.
TCFD: Task Force on Climate-Related Financial Disclosures, IIGCC: The Institutional Investors Group on Climate Change, ICI: Initiative Climat InternationalStrategy
To address ESG issues from a strategic approach, maximising the identification of opportunities and serving as a roadmap for the fulfilment of ESG goals, a middle term strategy has been developed and approved by the Board of Directors. This strategy is underpinned by four main pillars leveraging the know-how, technology and experience of core areas of the firm.
Investor level (acting as a trusted advisor)
Responsible investment from a corporate perspective
ESG in the investment cycle
Firm level
Appealing and sustainable working environment
Contribution to a better society through the AltamarCAM Foundation
The execution of the approved strategy is led by the ESG team, with support from different areas of the firm, achieving a cross-team implementation.
ESG Integration in the Investment Process
ESG factors are integrated at all stages of the investment process, from the Due Diligence all the way to the monitoring performed during the investments’ holding period. For a successful integration, the investment teams’ as well as the ESG team’s involvement is key.
Pre-Due Diligence Screening
Pre-screening via Exclusion Policy including list of restricted sectors recently approved by the Board
Selection Due Diligence
Engagement with GPs via ESG DD Questionnaire and application of the newly developed asset-specific Internal Scoring Model
Formalization Investment
ESG clauses requested in Side Letters and legal documents, increasing ESG Team’s involvement in discussions
Holding Period Monitoring
Regular monitoring of GPs through the adapted asset-specific ESG DD Questionnaire (partly bottom-up, partly top-down)
ESG in Figures
Male | Female gender balance among the workforce
Female representation in Partner positions
Nationalities among the workforce
tCO2 offset in 2021 across all the offices for Scope 1, Scope 2 and reduced Scope 3
Due Diligence materials produced including ESG Section
Altamar Capital Partners and CAM Alternatives achieved an A+ and A respectively in 2020 PRI Assesment* in the categories reported in the PRI Report
Engagement with the PRI
Altamar Capital Partners and CAM Alternatives were signatories of the United Nations PRI since 2016 and 2019. A unique PRI Report, as AltamarCAM Partners, will be issued from the next PRI reporting cycle.
Sponsorship role in the 2022 PRI in Person event hosted in Barcelona with the mission of driving progress towards a more sustainable global economy.
Commitments
AltamarCAM recognizes its fiduciary duty with its investors and stakeholders and seeks continuous improvement related to sustainability, optimizing internal procedures to implement best market practices, leveraging technology, all of which enhances its ESG approach. To do so, the firm has set the following goals as part of its ESG commitment:
Issuing AltamarCAM’s first annual ESG report
Adapting the current ESG Policy to the different asset classes
Extended efforts to measure portfolio carbon footprint
Sophistication of the internal ESG Assesment Model (ESG Scoring and DDQ)
Intensifying engagement with LPs and GPs
Participating actively in initiatives promoting sustainability
