Sustainability-Related Disclosures
Sustainability-related disclosures
Date of publication/update: 16 May 2023
Product name: EQT Foundation Fund AB (the “Fund”).
Legal entity identifier: The LEI code of the Fund is 636700MI1O85BYMDJI05. The Fund is registered with the Swedish Companies Register Office under number 559363-5385.
1. Summary
EQT Foundation Fund AB (the ”Fund”) is managed by EQT Foundation Management AB (the ”Manager”) and aims to make early investments in portfolio companies with the potential of making progress against the Fund’s Impact Indicators (as defined in Section 6 below), which are related to the promotion of (i) climate & nature; (ii) health & well-being; and (iii) equality & inclusion. The Fund’s binding commitment to invest in such companies follows from the Investment Agreement (as defined below) governing the Fund. Thus, the Fund promotes environmental and social characteristics (but does not have sustainable investment as its objective) by mainly making investments in companies which can contribute to development within three key areas:
- Climate & Nature;
- Health & Well-being; and
- Equality & Inclusion.
The Fund is expected to invest at least 90% of its NAV in assets that are aligned with one or several of these environmental and/or social characteristics. For liquidity and risk management purposes, the remaining part of the NAV is expected to be invested in assets such as cash, cash equivalents, and/or hedging instruments.
In addition to promoting environmental and social characteristics by focusing on portfolio companies supporting the three investment themes set out above, the Fund will ensure that its portfolio companies follow good governance practices.
Sustainability is integrated throughout the Fund’s investment cycle – from thematic sourcing and conducting focused sustainability due diligence / impact scoring to aiming to accelerate and scale positive impact as an owner. When assessing the attractiveness of a potential portfolio company, the Manager considers material sustainability aspects as part of its investment screening process. The outcome of the sustainability / impact analysis is documented and considered by the Manager as a part of the overall review of the investment opportunity.
The Fund’s investment screening process is based on the Impact Management Project's (IMP) framework for impact management, and the following factors are analysed as part of the investment screening / due diligence: (i) impact potential considering five pre-defined IMP metrics, (ii) business model and the relationship between impact and financial returns, (iii) disruption, (iv) management team and (v) risk factors. The Fund will assess good governance practices of the portfolio companies by setting out positive and negative assessment criteria in relation to governance aspects such as management structures, employee relations, remuneration of staff and tax compliance.
Further, the environmental and social characteristics promoted by the Fund – as well as the Impact Indicators – are monitored as part of the Manager’s overall investment monitoring process. The environmental and social characteristics of all existing investments are reviewed at least annually in order to examine how the portfolio companies promote and make progress against the Impact Indicators. Thus, the Impact Indicators are used to measure the attainment of the environmental and social characteristics promoted by the Fund. The methodology used is based on the IMP framework for impact management and includes collecting qualitative and quantitative data via portfolio management software to assess the portfolio companies’ progress in relation to the Impact Indicators.
The methodologies are limited to some degree by the verification process, as the information collected from portfolio companies is only internally or externally verified if and to the extent misrepresentations are suspected. Thus, it cannot be ruled out completely that false information may remain undetected in certain cases.
No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund. The Fund does not currently consider principal adverse impacts on sustainability factors and does not commit to invest in any sustainable investment within the meaning of the SFDR or the Taxonomy Regulation. The minimum share of Taxonomy-aligned investments is 0%. Engagement is not part of the environmental and social investment strategy.
2. No sustainable investment objective
This financial product promotes environmental or social characteristics, but does not have as its objective sustainable investment.
3. Environmental or social characteristics of the financial product
The Fund invests in early stage impact companies with the potential of making progress against the Fund’s Impact Indicators or contributing to an enabling environment for such progress. The Impact Indicators are related to the promotion of (i) climate & nature; (ii) health & well-being; and (iii) equality & inclusion, as further described below. Accordingly, the Fund focuses on making investments in companies supporting three key investment themes with environmental and/or social characteristics:
- Climate & Nature (investments in nascent technologies needed to reach the Paris Agreement);
- Health & Well-being (investments supporting scientific discoveries improving access to and affordability of good health); and
- Equality & Inclusion (investments supporting technology that creates more equitable outcomes and help overcome unconscious bias).
4. Investment strategy
What investment strategy does this financial product follow?
The Fund has been established for the purposes of making, holding and subsequently realising investments in early stage impact companies supporting three key investment themes (as described above): (i) climate & nature; (ii) health & well-being; and (iii) equality & inclusion.
Through its thematic sourcing and investment approach, the Manager seeks to identify potential portfolio companies of the Fund that have a positive societal impact.
The Fund targets areas where there is disproportionate risk and financial return; tough tech, emerging markets and disadvantaged populations. The Fund is however designed to overcome some of the traditional challenges of investing in these areas. For instance, the Fund’s structure allows the Fund to take a founder-friendly approach and stay on until not needed anymore or the equity stakes are transferred. Moreover, the Fund strives to be an active owner by e.g. providing access to its network of experts and advisors.
What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?
The binding elements to select investments to attain the environmental and social characteristics promoted by the Fund are set out in the investment agreement entered into by the Manager, the Fund and its investors (the “Investment Agreement”).
Under the Investment Agreement, the Manager is bound to seek and select the Fund’s investments in scope of a clearly defined investment policy, according to which the Fund’s primary investment focus shall be early stage impact companies with the potential of making progress against the Impact Indicators or contributing to an enabling environment for such progress. Moreover, the Investment Agreement sets out that any investments and divestments by the Fund shall always be made with due regard to the mandate and policies of EQT Foundation, whose object is to use its proceeds for the furtherance of public benefit purposes, such as sustainability, environment, and inclusion.
What is the policy to assess good governance practices of the investee companies?
To assess good governance practices of the Fund’s portfolio companies, the Manager has adopted processes for due diligence, which e.g. sets out positive and negative assessment criteria in relation to governance aspects such as management structures, employee relations, remuneration of staff and tax compliance. Each potential portfolio company is assessed in relation to impact management standards and the results are considered in connection with the investment decision. The Fund also collects information from the portfolio companies on an annual basis to assess if the portfolio companies are complying with good governance practices continuously.
5. Proportion of investments
What is the asset allocation planned for this financial product?

The Fund is expected to invest at least 90% of its NAV in assets that are aligned with one or several of the environmental and/or social characteristics promoted by the Fund (#1 Aligned with E/S characteristics).
The Fund can invest up to 10% of its NAV in cash, cash equivalents, and/or hedging instruments (#2 Other).
The Fund does not currently commit to invest in any sustainable investment within the meaning of the SFDR or the Taxonomy Regulation. The minimum share of Taxonomy-aligned investments is 0%. Since the Fund will invest in companies that are in a very early stage of their operations, it will not, beforehand, be possible to assess what share, if any, of the investment that will be aligned with the EU Taxonomy.

6. Monitoring of environmental or social characteristics
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The sustainability indicators used to measure the attainment of the environmental and social characteristics promoted by the Fund are the following, in relation to the services/solutions provided by the portfolio companies:
- Climate & Nature: the number of CO2e removed or avoided, measured in (i) tonnes of CO2e emissions removed/avoided and (ii) tonnes of CO2 emissions removal/avoidance enabled by strategic tools by 2030;
- Health & Well-being: the number of (i) people with improved access to healthcare and (ii) underserved people with reduced healthcare or treatment cost by 2030; and
- Equality & Inclusion: the number of people with access to a service or product that improves equality and inclusion by 2030,
(the “Impact Indicators”).
How are the environmental or social characteristics and the sustainability indicators monitored throughout the lifecycle of the fund, and how do the related internal or external control mechanisms work?
Sustainability is integrated throughout the investment cycle – from thematic sourcing and conducting focused sustainability due diligence / impact scoring to aiming to accelerate and scale positive impact as an owner.
During the Fund’s ownership of portfolio companies, the Manager will seek to promote sustainability practices and sound environmental, social and governance (“ESG”) standards in the companies. The Manager is continuously working towards improving the ESG performance, sustainable practices, and disclosure practices of its portfolio companies by monitoring the portfolio companies’ ESG performance and requiring the portfolio companies to report to the Manager on certain impact management standards on an annual basis.
The environmental and social characteristics promoted by the Fund, as well as the Impact Indicators, are monitored as part of the overall investment monitoring process of the Manager. The environmental and social characteristics of all existing investments are reviewed at least annually in order to examine how the portfolio companies promote and make progress against the Impact Indicators. Investments that fail to achieve a satisfactory outcome based on the Impact Indicators are more extensively monitored. The Manager shall work actively and systematically to influence the portfolio companies through, for instance, offering advice to their founders. Where needed, the Manager will prepare action plans in order to enhance portfolio companies’ progress against the Impact Indicators. Active influence also entails influencing the companies to adopt, implement and monitor internal policies on how to achieve the environmental and social characteristics promoted by the Fund.
7. Methodologies
What are the methodologies to measure the attainment of the environmental or social characteristics promoted by the financial product?
The Impact Indicators are used to measure the attainment of the environmental and social characteristics promoted by the Fund. In order to measure progress against the Impact Indicators during the holding period, the Manager will consult with the portfolio companies in regular intervals and will carry out further checks in order to identify potential issues with such progress. The methodology used includes collecting qualitative and quantitative data via portfolio management software to assess the portfolio companies’ progress in relation to the Impact Indicators. If the Manager identifies a need to define a portfolio company’s impact goals or otherwise support in the portfolio company’s ESG performance, an impact workshop is offered to the portfolio company by the Manager.
8. Data sources and processing
What are the data sources used to attain each of the environmental or social characteristics promoted by the financial product? What are the measures taken in order to ensure data quality? How is data processed? What proportion of data is estimated?
In order to attain the environmental or social characteristics promoted by the Fund, the Manager obtains most of the relevant data from its (potential) portfolio companies. Moreover, during the holding period, the Manager obtains further information from the portfolio companies on an annual basis. Hence, data is obtained primarily from the portfolio companies. An internal or external review or verification of the information obtained will be carried out if misrepresentations are suspected. The results of the data obtained are considered in connection with the investment decision and, for existing portfolio companies, any follow-on investment decisions. The Manager requires the portfolio companies to answer certain qualitative questions for the Manager to understand in what areas each portfolio company needs support in relation to ESG performance. The Manager also collects and qualifies data and documents and performs risk scoring, due diligence level maintenance, shareholding structure collection and watchlist screening in relation to the portfolio companies. If the Manager considers that any of the portfolio companies is moving in the wrong direction, out of the impact space, and this is not avoidable by providing support, the Fund’s shares in the relevant portfolio company will be sold. The Manager does not anticipate any data to be estimated.
9. Limitations to methodologies and data
What are the limitations to the used (i) methodologies and (ii) data sources? How do such limitations not affect the attainment of the promoted environmental or social characteristics?
The information collected from portfolio companies as part of the due diligence and during the holding period is internally or externally verified only if and to the extent misrepresentations are suspected. Thus, it cannot be ruled out completely that false information may remain undetected in certain cases. As the Fund’s investments are generally long-term partnerships, the Manager considers it a priority to establish and maintain a trustful working relationship with its portfolio companies in order to ensure compliance with the environmental or social characteristics promoted by the Fund. It is, therefore, considered unlikely that the isolated provision of incorrect information from a portfolio company would result in non-compliance with the Fund’s promotion of environmental and social characteristics. As described above, certain information is collected using automatic systems and/or software and is dependent on such systems/software functioning.
10. Due diligence
What is the due diligence carried out on the underlying assets of the financial product, and which internal and external controls are in place?
When assessing the attractiveness of an investment opportunity (i.e. a potential portfolio company), the Manager considers material sustainability / impact aspects as part of its due diligence. The outcome of the sustainability / impact analysis is documented and considered by the Manager as a part of the overall review of the investment opportunity.
The Fund’s investment screening process is based on the Impact Management Project's (IMP) framework for impact management, and the following factors are analysed as part of the investment screening / due diligence: (i) impact potential considering five pre-defined IMP metrics, (ii) business model and the relationship between impact and financial returns, (iii) disruption, (iv) management team and (v) risk factors. Each potential portfolio company is assessed in relation to these impact standards and the results of the data obtained are considered in connection with the investment decision.
To assess good governance practices of the Fund’s portfolio companies, the Manager’s processes for due diligence also set out positive and negative assessment criteria in relation to governance aspects such as management structures, employee relations, remuneration of staff and tax compliance.
As stated above, an internal or external review or verification of the information obtained will be carried out if misrepresentations are suspected.
11. Engagement policies
Engagement is not part of the environmental or social investment strategy of the Fund. However, the Fund encourages its portfolio companies to conduct regular ESG trainings, to consider principal adverse impacts on a voluntary basis and to improve their ESG efforts.
12. Designated reference benchmark
No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by the Fund.
Sustainability-related disclosures
Date of publication/update: 16 May 2023
1. Introduction
Under EU Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”), EQT Foundation Management AB, Reg. No. 559363-5377, (the “Manager”) is required to make the following disclosures in accordance with Articles 3(1), 4(1), and 5(1) of the SFDR.
2. Policy on the integration of Sustainability Risks in the Manager’s investment decision‐making process
A “Sustainability Risk” is an environmental, social or governance event or condition that, if it occurs, could cause an actual or potential material negative impact on the value of an investment, and hence the net asset value of the Fund. Sustainability Risks include environmental risks, social risks and governance risks. Environmental risks could be (without limitation) events like earthquakes, climate change, flood risk or other environment-related factors. Social risks could be circumstances like social unrest, changes to social or labor laws or other social factors, and governance risks could be factors like bribery and corruption, compliance risks or similar.
The Manager is the alternative investment fund manager of the Fund. An integral part of the Manager’s investment process is the identification and evaluation of Sustainability Risks and opportunities.
Prior to any investment decisions being made on behalf of the Fund, the Manager undertakes a process to identify material risks (including Sustainability Risks) associated with a proposed investment. An assessment of these risks form part of the Manager’s overall investment analysis. The Manager assesses the identified risks (which would include any Sustainability Risks) alongside other relevant factors set out in the investment proposal. During this process, Sustainability Risks are identified and assessed using the same process as is applied to other relevant risks affecting the Fund. The factors considered in the investment screening process of an acquisition would include but not be limited to the following: (i) impact potential considering five pre-defined IMP metrics, (ii) business model and the relationship between impact and financial returns, (iii) disruption, (iv) management team and (v) risk factors, including Sustainability Risks.
If Sustainability Risks are identified, this may lead to the abortion of the investment in case risks cannot be adequately managed or mitigated through appropriate measures. Once an asset has been acquired, the Manager monitors Sustainability Risks on a regular basis.
3. Information on how the Manager’s remuneration policy is consistent with the integration of Sustainability Risks
The Manager pays staff a combination of fixed remuneration (salary and benefits) and variable remuneration (including bonus). Remuneration is determined on the basis of an annual performance review, where both financial and non-financial criteria are taken into account. The non-financial criteria include compliance with the Manager’s core values, which includes promotion of sustainability characteristics and integration of Sustainability Risks. The remuneration is set so that the structure of remuneration does not encourage excessive risk taking with respect to direct or indirect Sustainability Risks.
4. Consideration of principal adverse impacts on sustainability factors
At the date of this disclosure, the Manager does not consider principal adverse impacts on sustainability factors as the relevant data for measuring such impact is not yet available to a sufficient extent, particularly in relation to the type of early stage companies in which the Fund will invest. The Manager continues to closely monitor the evolution of the market and regulatory landscape in relation to consideration of adverse impacts on sustainability factors. Whether the Manager will consider principal adverse impacts on sustainability factors will be assessed at least annually by the Manager.
1. Sammanfattning
EQT Foundation Fund AB (”Fonden”) förvaltas av EQT Foundation Management AB (”Förvaltaren”) och har som mål att göra tidiga investeringar i portföljbolag med potential att göra framsteg mot Fondens påverkansindikatorer (enligt definitionen i punkt 6 nedan), vilka är relaterade till främjandet av (i) klimat och natur; (ii) hälsa och välbefinnande; och (iii) jämlikhet och inkludering. Fondens bindande åtagande att investera i sådana bolag följer av Investeringsavtalet (enligt definitionen nedan) som reglerar Fonden. Fonden främjar således miljömässiga och sociala egenskaper (men har inte hållbara investeringar som mål) genom att huvudsakligen investera i bolag som kan bidra till utveckling inom tre nyckelområden:
- Klimat och natur;
- Hälsa och välbefinnande; och
- Jämlikhet och inkludering.
Fonden förväntas investera minst 90 % av sitt NAV i tillgångar som är anpassade till en eller flera av dessa miljörelaterade och/eller sociala egenskaper. För likviditets- och riskhanteringsändamål förväntas resterande NAV att investeras i tillgångar såsom likvida medel och motsvarigheter till likvida medel och/eller säkringsinstrument.
Förutom att främja miljörelaterade och sociala egenskaper genom att fokusera på portföljbolag som stöder de tre investeringsteman som anges ovan kommer Fonden att säkerställa att dess portföljbolag följer praxis för god styrning.
Hållbarhet integreras under Fondens investeringscykel — från tematisk sourcing och genomförande av fokuserad hållbarhetsgranskning/impact-poängsättning för att som ägare påskynda och skala upp positiv påverkan. Vid bedömningen av ett potentiellt portföljbolags attraktivitet beaktar Förvaltaren väsentliga hållbarhetsaspekter som en del av sin investeringsscreeningprocess. Resultatet av hållbarhets-/konsekvensanalysen dokumenteras och beaktas av Förvaltaren som en del av den övergripande översynen av investeringsmöjligheten.
Fondens investeringsgranskningsprocess baseras på Impact Management Projects (IMP) ramverk för impact management, och följande faktorer analyseras som en del av investeringsscreeningen/due diligence: (i) påverkanspotential med beaktande av fem fördefinierade IMP-mått, (ii) affärsmodell och förhållandet mellan påverkan och finansiell avkastning, (iii) disruptiv innovation, (iv) ledningsgrupp och (v) riskfaktorer. Fonden kommer att bedöma god förvaltningssed i portföljbolagen genom att fastställa positiva och negativa bedömningskriterier i förhållande till styrningsaspekter såsom ledningsstrukturer, relationer till anställda, ersättning till personal och skatteefterlevnad.
Dessutom övervakas de miljörelaterade och sociala egenskaper som främjas av Fonden – liksom påverkansindikatorerna – som en del av Förvaltarens övergripande investeringsövervakningsprocess. De miljörelaterad och sociala egenskaperna hos alla befintliga investeringar ses över minst en gång om året för att undersöka hur portföljbolagen främjar och utvecklas mot påverkansindikatorerna. Påverkansindikatorerna används därför för att mäta uppnåendet av de miljörelaterade och sociala egenskaperna som främjas av Fonden. Den metod som används bygger på IMP-ramverket för påverkanshantering och omfattar insamling av kvalitativa och kvantitativa data via portföljförvaltningsprogramvara för att bedöma portföljbolagens utveckling i förhållande till påverkansindikatorerna.
Metoderna begränsas till viss del av verifieringsprocessen, eftersom informationen som samlas in från portföljbolagen endast verifieras internt eller externt om och i den mån det finns misstankar om felaktiga uppgifter. Det kan därför inte helt uteslutas att falsk information i vissa fall kan förbli oupptäckt.
Inga referensvärden har fastställts med avseende på de miljörelaterade eller sociala egenskaper som främjas av Fonden. Fonden beaktar för närvarande inte huvudsakliga negativa konsekvenser för hållbar utveckling och förbinder sig inte att investera i några hållbara investeringar i den mening som avses i SFDR eller taxonomiförordningen. Den minsta andelen taxonomianpassade investeringar är 0 %. Engagemang ingår inte i strategin för miljörelaterade och sociala investeringar.
1. Resumé
EQT Foundation Fund AB ("Fonden") forvaltes af EQT Foundation Management AB ("forvalteren") og har til formål at foretage tidlige investeringer i porteføljeselskaber med potentiale for udvikling i forhold til fondens effektindikatorer (som defineret i afsnit 6 nedenfor), som er forbundet med fremme af (i) klima og natur; ii) sundhed og velvære og (iii) lighed og inklusion. Fondens bindende forpligtelse til investering i sådanne selskaber er fastsat i investeringsaftalen (som defineret nedenfor), som fonden er underlagt. Fonden fremmer således miljømæssige og sociale karakteristika (men har ikke bæredygtige investeringer som mål) ved primært at foretage investeringer i virksomheder, der kan bidrage til udvikling inden for tre nøgleområder:
- Klima og natur;
- Sundhed og velvære; samt
- Ligestilling og inklusion.
Fonden forventes at investere mindst 90 % af sin nettoaktivværdi i aktiver, der er i overensstemmelse med en eller flere af disse miljømæssige og/eller sociale karakteristika. Med henblik på likviditets- og risikostyring forventes den resterende del af nettoaktivværdien at blive investeret i aktiver såsom kontanter, likvide midler og/eller afdækningsinstrumenter.
Ud over at fremme miljømæssige og sociale karakteristika ved at fokusere på porteføljeselskaber, der støtter de tre ovennævnte investeringstemaer, vil fonden sikre, at dens porteføljeselskaber følger god ledelsespraksis.
Bæredygtighed er integreret i hele fondens investeringscyklus – fra tematisk sourcing og anvendelse af fokuseret due diligence/effektvurdering af bæredygtighed til målet om at accelerere og skalere den positive indvirkning som ejer. Ved vurderingen af et potentielt porteføljeselskabs tiltrækningskraft tager forvalteren hensyn til væsentlige bæredygtighedsaspekter som en del af sin investeringsscreening. Resultatet af bæredygtigheds-/effektanalysen dokumenteres og vurderes af forvalteren som en del af den overordnede undersøgelse af investeringsmuligheden.
Fondens investeringsscreening er baseret på Impact Management Project's (IMP) ramme for effektstyring, og følgende faktorer analyseres som en del af investeringsscreeningen/due diligence: (i) effektpotentiale ud fra fem foruddefinerede IMP-indikatorer, (ii) forretningsmodel og forholdet mellem effekt og finansielt afkast, (iii) disruption, (iv) ledelsesteam og (v) risikofaktorer. Fonden vil vurdere god ledelsespraksis i porteføljeselskaberne ved at opstille positive og negative vurderingskriterier for ledelsesaspekter såsom ledelsesstrukturer, medarbejderforhold, aflønning af medarbejdere og overholdelse af skatteregler.
Endvidere overvåges de miljømæssige og sociale karakteristika, som fonden fremmer – samt effektindikatorerne – som led i forvalterens overordnede investeringsovervågningsproces. De miljømæssige og sociale karakteristika for alle de eksisterende investeringer gennemgås mindst en gang om året for at vurdere, hvordan porteføljeselskaberne fremmer disse og gør fremskridt i forhold til effektindikatorerne. Effektindikatorerne anvendes således til at måle opfyldelsen af de miljømæssige og sociale karakteristika, som fonden fremmer. Den anvendte metode er baseret på IMP-rammen for effektstyring og omfatter indsamling af kvalitative og kvantitative data ved hjælp af porteføljestyringssoftware for at vurdere porteføljeselskabernes fremskridt i forhold til effektindikatorerne.
Metoderne er til en vis grad begrænset af verifikationsprocessen, da de oplysninger, der indsamles fra porteføljeselskaber, udelukkende verificeres internt eller eksternt, såfremt og i det omfang der er mistanke om urigtige oplysninger. Det kan derfor ikke helt udelukkes, at falske oplysninger i visse tilfælde forbliver uopdagede.
Der er ikke angivet noget referencebenchmark med henblik på at realisere de miljømæssige eller sociale karakteristika, som fremmes af Fund I. Fonden tager på nuværende tidspunkt ikke højde for de vigtigste negative indvirkninger på bæredygtighedsfaktorer og forpligter sig ikke til at investere i bæredygtige investeringer i henhold til SFDR eller klassificeringsforordningen. Minimumsandelen af klassificeringstilpassede investeringer er 0 %. Engagement er ikke en del af den miljømæssige og sociale investeringsstrategi.
1. Oversikt
EQT Foundation Fund AB («fondet») forvaltes av EQT Foundation Management AB («forvalteren»). Fondet har som mål å investere tidlig i porteføljeselskaper som har potensial til å bli bedre på fondets konsekvensindikatorer (se definisjon i punkt 6 nedenfor), dvs. de jobber for å fremme i) klima og natur, ii) helse og velvære og iii) likestilling og inkludering. Fondets bindende forpliktelse til å investere i slike selskaper følger av investeringsavtalen (se definisjon nedenfor) som regulerer fondet. Fondet fremmer derfor miljø- og samfunnskarakteristika (men har ikke bærekraftig investering som mål) ved hovedsakelig å investere i selskaper som kan bidra til utvikling innen tre sentrale områder:
- klima og natur
- helse og velvære
- likestilling og inkludering
Fondet forventes å investere minst 90 % av sin nettoverdi i eiendeler som er i tråd med én eller flere av disse miljø- og/eller samfunnskarakteristikaene. Av hensyn til likviditet og risikostyring forventes det at resten av nettoverdien investeres i eiendeler som kontanter, betalingsmidler og/eller sikringsinstrumenter.
I tillegg til å fremme miljø- og samfunnskarakteristika ved å fokusere på porteføljeselskaper som støtter de tre investeringstemaene som er angitt ovenfor, vil fondet sikre at porteføljeselskapene følger god styringspraksis.
Bærekraft er integrert i hele fondets investeringssyklus – fra tematiske innkjøp og gjennomføring av fokuserte bærekraftsrelaterte aktsomhetsvurderinger og konsekvensvurderinger til arbeid for å fremskynde og skalere de positive konsekvensene som eier. Når det vurderes om et potensielt porteføljeselskap er attraktivt, tar forvalteren hensyn til vesentlige bærekraftsaspekter som en del av investeringsprosessen. Forvalteren dokumenterer og vurderer resultatet av bærekrafts-/konsekvensanalysen som en del av den generelle gjennomgangen av investeringsmuligheten.
Fondets investeringsprosess er basert på Impact Management Projects (IMP) rammeverk for konsekvenshåndtering, og følgende faktorer analyseres som en del av investeringsprosessen/aktsomhetsvurderingene: i) konsekvensspotensial som tar hensyn til fem forhåndsdefinerte IMP-parametere, ii) forretningsmodell og forhold mellom konsekvenser og økonomisk avkastning, iii) forstyrrelser, iv) ledelsesteam og v) risikofaktorer. Fondet vil vurdere god styringspraksis i porteføljeselskapene ved å stille opp positive og negative vurderingskriterier i forbindelse med styringsaspekter som ledelsesstrukturer, ansatteforhold, godtgjørelse til ansatte og etterlevelse av skattelovgivningen.
De miljø- og samfunnskarakteristikaene som fondet fremmer – og konesekvensindikatorene – overvåkes som en del av forvalterens generelle investeringsprosess. Miljø- og samfunnskarakteristikaene ved alle eksisterende investeringer gjennomgås minst årlig for å undersøke hvordan porteføljeselskapene fremmer konsekvensindikatorene og presterer i forhold til dem. Konsekvensindikatorene brukes derfor til å måle om fondets miljø- og samfunnskarakteristika er oppnådd. Den metoden som brukes, er basert på IMP-rammeverket for konsekvenshåndtering og omfatter innsamling av kvalitative og kvantitative data via programvare for porteføljeforvaltning for å vurdere hvordan porteføljeselskapen presterer i forhold til konsekvenssindikatorene.
Metodene er begrenset i en viss grad av verifiseringsprosessen, siden den informasjonen som samles inn fra porteføljeselskaper, bare er internt eller eksternt verifisert hvis det er mistanke om at det er lagt frem uriktige opplysninger. Det kan derfor ikke utelukkes helt at falsk informasjon kan gå upåaktet hen i visse tilfeller.
Det er ikke utpekt noen referanse for oppnåelse av de miljø- eller samfunnskarakteristikaene som fondet fremmer. Fondet tar for øyeblikket ikke hensyn til primære negative konsekvenser for bærekraftsfaktorer og har ikke forpliktet seg til å investere i bærekraftige investeringer i henhold til SFDR eller taksonomiforordningen. Minste andel av investeringene som oppfyller kravene i EUs taksonomi, er 0 %. Engasjement er ikke en del av miljø- og samfunnsinvesteringsstrategien.
1. Zusammenfassung
Der EQT Foundation Fund AB (der „Fonds") wird von der EQT Foundation Management AB (dem „Manager") verwaltet und zielt darauf ab, frühzeitig in Portfoliounternehmen zu investieren, die das Potenzial haben, Fortschritte bei den Wirkungsindikatoren des Fonds (wie nachstehend in Abschnitt 6 definiert) zu erzielen, die sich auf die Förderung von (i) Klima und Natur; (ii) Gesundheit und Wohlbefinden; und (iii) Gleichberechtigung und Inklusion beziehen. Die verbindliche Zusage des Fonds, in solche Unternehmen zu investieren, ergibt sich aus der Investitionsvereinbarung (wie nachstehend definiert), die den Fonds regelt. So fördert der Fonds ökologische und soziale Merkmale (verfolgt jedoch keine nachhaltigen Investitionen als Ziel), indem er hauptsächlich in Unternehmen investiert, die zur Entwicklung in drei Schlüsselbereichen beitragen können:
- Klima & Natur;
- Gesundheit und Wohlbefinden; und
- Gleichberechtigung und Inklusion.
Es wird erwartet, dass der Fonds mindestens 90 % seines Nettoinventarwerts in Vermögenswerte investiert, die auf eines oder mehrere dieser ökologischen und/oder sozialen Merkmale ausgerichtet sind. Für Zwecke des Liquiditäts- und Risikomanagements wird erwartet, dass der verbleibende Teil des Nettovermögenswertes in Vermögenswerte wie Zahlungsmittel, Zahlungsmitteläquivalente und/oder Sicherungsinstrumente investiert wird.
Neben der Förderung ökologischer und sozialer Merkmale durch die Fokussierung auf Portfoliounternehmen, die die drei oben genannten Anlagethemen unterstützen, wird der Fonds sicherstellen, dass seine Portfoliounternehmen gute Governance-Praktiken anwenden.
Nachhaltigkeit ist in den gesamten Anlagezyklus des Fonds integriert – von der thematischen Beschaffung und der Durchführung einer fokussierten Nachhaltigkeits-Due-Diligence / Auswirkungsbewertung bis hin zum Ziel, die positiven Auswirkungen als Eigentümer zu beschleunigen und zu skalieren. Bei der Beurteilung der Attraktivität eines potenziellen Portfoliounternehmens berücksichtigt der Manager wesentliche Nachhaltigkeitsaspekte im Rahmen seines Verfahrens zur Bewertung der Investitionen. Das Ergebnis der Nachhaltigkeits-/Wirkungsanalyse wird dokumentiert und vom Manager als Teil der Gesamtüberprüfung der Investitionsmöglichkeit berücksichtigt.
Das Verfahrens zur Bewertung der Investitionen des Fonds basiert auf dem Rahmenwerk des Impact Management Project (IMP) für das Bewertungsmanagement, und die folgenden Faktoren werden im Rahmen der Bewertung der Investitionen / der Due Diligence analysiert: (i) Wirkungspotenzial unter Berücksichtigung von fünf vordefinierten IMP-Kennzahlen, (ii) Geschäftsmodell und die Beziehung zwischen Wirkung und finanziellen Erträgen, (iii) Störung, (iv) Managementteam und (v) Risikofaktoren . Der Fonds wird die Good-Governance-Praktiken der Portfoliounternehmen bewerten, indem er positive und negative Bewertungskriterien in Bezug auf Governance-Aspekte wie Managementstrukturen, Mitarbeiterbeziehungen, Vergütung der Mitarbeiter und Steuerkonformität festlegt.
Darüber hinaus werden die vom Fonds geförderten ökologischen und sozialen Merkmale sowie die Wirkungsindikatoren im Rahmen des gesamten Investitionsüberwachungsprozesses des Managers überwacht. Die ökologischen und sozialen Merkmale aller bestehenden Investitionen werden mindestens einmal jährlich überprüft, um zu prüfen, wie die Portfoliounternehmen die Wirkungsindikatoren fördern und Fortschritte erzielen. Daher werden die Wirkungsindikatoren verwendet, um das Erreichen der vom Fonds geförderten ökologischen und sozialen Merkmale zu messen. Die verwendete Methodik basiert auf dem IMP-Rahmenwerk für das Wirkungsmanagement und umfasst die Erhebung qualitativer und quantitativer Daten über eine Portfoliomanagement-Software, um die Fortschritte der Portfoliounternehmen in Bezug auf die Wirkungsindikatoren zu bewerten.
Die Methoden sind bis zu einem gewissen Grad durch den Verifizierungsprozess begrenzt, da die von den Portfoliounternehmen erhobenen Informationen nur intern oder extern überprüft werden, falls und soweit der Verdacht auf falsche Darstellungen besteht. Somit kann nicht gänzlich ausgeschlossen werden, dass falsche Angaben in bestimmten Fällen unentdeckt bleiben.
Hinsichtlich des Erreichens einer Förderung von ökologischem oder sozialem Engagement durch den Fund sind noch keine Grenzwerte festgelegt worden. Der Fonds berücksichtigt derzeit keine wesentlichen nachteiligen Auswirkungen auf Nachhaltigkeitsfaktoren und verpflichtet sich nicht, in nachhaltige Investitionen im Sinne der SFDR oder der Taxonomie-Verordnung zu investieren. Der Mindestanteil der taxonomiekonformen Investitionen beträgt 0 %. Engagement ist nicht Teil der ökologischen und sozialen Investitionsstrategie.