Patron is exceptionally focused on responsible investing and endeavours to adhere to relevant industry reporting guidelines and where appropriate, will report in line with relevant industry ESG standards. Patron’s strong sense of social responsibility and ethics has been in place over its 23-year history across Patron’s entire team and governs its relationships with partners, investors, and wider society.
Patron’s initial investment reviews consider the ESG impact of all the respective investments and the related business plans including key characteristics in the various regulations and standards as set out above. This review explicitly considers the existing and possible environmental improvements and social impacts that can be generated by the investment, as well as the governance mechanisms that are employed to achieve them. This review is detailed within the relevant Investment Memorandum. Throughout the life of an Investment, Patron continuously monitors ESG matters, and goals set at the investment’s inception, and these are reported on in fund investor reports, and where appropriate, by the local investment team as well. Patron has effective control throughout the life of the investment.
Patron’s approach is guided by the below principles and investment level application includes:
As well as being a signatory of UN PRI, Patron is also now a member of GRESB as it relates to Fund VI and the new Fund (currently raising). GRESB rate managers on their environmental measurement and reporting as well as on overarching fund and firm level policies and practices relating to environmental and social factors. As a member, Patron will be able to more closely monitor the ongoing trends in best practice ESG management, and their practices and reporting will continue to evolve in this regard.
Patron have registered Fund VII as an Article 8 fund under the SFDR framework. Beginning in 2023 Patron will be reporting the Fund’s metrics on the relevant Principal Adverse Indicators as well as on relevant environmental and social characteristics, both at investment and fund level, and they are currently selecting appropriate consultants to advise us in this respect.
Patron has appointed Emilio Cereijo as the Chief Sustainability Officer, and manages the implementation, and monitoring of Patron's ESG principles and targets with respect to the Funds' investments. However, Patron encourages collective responsibility across the firm, and ESG matters are part of the company ethos, and therefore implicitly part of everyone’s remit, including on all new investments. Third party consultants are appointed, where relevant, to assess environmental or social value aspects of an investment, with oversight from relevant Investment Directors. ESG matters on a global level will be considered by the Operational Review Board (Keith Breslauer, Shane Law, Stephen Green, Christoph Ignaczak, JonatasSzkurnik), along with Emilio Cereijo (Chief Sustainability Officer, as above), Kendall Langford (General Counsel) and Mark Parnell, (Finance Director).
Emilio Cereijo
Chief Sustainability Officer
emilio@patroncapital.com
