London, 12 November 2020 – Infrastructure investment specialist Whitehelm Capital is pleased to announce that its Whitehelm Capital Listed Core Infrastructure Fund (“LCIF” or “The Fund”) has been awarded the ‘Towards Sustainability’ label, a prestigious label for sustainable and socially responsible financial products, awarded by the Central Labelling Agency (CLA) of Belgian SRI Label and developed on the initiative of Febelfin, the Belgian federation of the financial sector. LCIF is the first listed core infrastructure fund to be awarded the label.
The ‘Towards Sustainability’ label, built around principles of transparency, ESG analysis and exclusions, shows investors that a fund complies with its stringent criteria in terms of sustainable and socially responsible investments. This accolade follows LCIF receiving a MSCI ESG Rating of AA in August. Whitehelm Capital was also recently awarded an A+ from UNPRI for its overall strategy and governance approach to ESG.
LCIF provides investors with a diversified portfolio of the highest quality global infrastructure stocks. The Fund is designed to give investors a liquid way to invest in core infrastructure such as regulated utilities, airports, toll roads and rail roads.
In integrating climate change related risks, the Fund takes a ‘maximum 2°C warming pathway compliance’ approach. This approach recognises that companies that can adjust over time to the policy and make changes necessary to meet the Paris Agreement 2°C warming target will be less subject to stranded asset risk and the destruction of investor capital. The Fund’s approach is also in line with the goals of the EU Green Deal in aiming to achieve carbon neutrality by 2050 and to generate electricity carbon free by 2035. The Fund only invests in assets that are aligned with the maximum 2°C warming pathway and thereby meets the strict maximum gCO2/kWh emission limits as set by the ‘Towards Sustainability’ label. The Fund maintains a low carbon intensity relative to other infrastructure strategies and benchmarks with currently 71% less Scope 1 and 2 Emissions and 79% less Scope 3 Emissions per $EBITDA than the FTSE Developed Core Infrastructure Index.1
Ursula Tonkin, Portfolio Manager of LCIF, said: “As a responsible investor, LCIF seeks to achieve the highest ESG standards throughout its investment activity and considers the incorporation of ESG considerations as a critical component of protecting and increasing value. We are pleased that the fund has been awarded the ‘Towards Sustainability’ label, developed on the initiative of Febelfin. To be the first listed core infrastructure fund to obtain this label is testament to our investment approach, rigorous stock selection processes and approach to climate change and energy transition risk. This prestigious label will instill trust and underscores our commitment to investors that LCIF is managed with an absolute commitment to sustainability and the transition to carbon neutrality.”
1 ISS, Bloomberg.
T: Louis Supple / Jack Roddan
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