< PreviousESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Gabin PRIMAULT ESG Manager ESG TEAM gabin.primault@idico.fr 06 30 08 21 69 QUALITATIVE DESCRIPTION idiCO At idiCo, we integrate ESG into our decision-making. We firmly believe that good ESG management allows our portfolio companies to create sustainable value. We invest in SMEs and mid-sized companies across all sectors. Our ESG strategy, adaptable to each company, aims to support them towards more sustainable models. We have defined four key objectives that guide our ap- proach: Structure and develop businesses Contribute to the attractiveness and retention of talent Encourage directors and their teams to address environmental, social, and governance (ESG) issues Contribute to the ecological transition and compliance with the Paris Agreement. Since the creation of idiCo, we have established a robust ESG governance with an ESG Supervisory Board composed notably of external members (Corinne Lepage and Stéphane Voisin) and an internal Operational ESG Committee. Our ESG strategy is at the core of our investment process, structured in several phases: Pre-investment: application of our exclusion policy (aligned with the Paris-Aligned Benchmark) and vigilance, systematic analysis of climate and biodiversity risks, conduct of ESG due diligence Investment: integration of ESG clauses in legal documentation, implementation of an ESG action plan Monitoring: funding of the first carbon assessment, annual collection of ESG data, tracking of idiCo's ESG Score, access to the CSR toolkit provided by idiCo Exit: assessment of ESG achievements This group-level strategy constitutes the ESG foundation of our company, with each investment strategy adding its own specificities. DOWNLOAD THE FILE 23-25 AVE. FRANKLIN D. ROOSEVELT 75008 PARIS, FRANCE www.idico.fr AREAS OF EXPERTISE LBO Capital-développement Growth Private Debt PRIORITY VERTICAL SECTORS Education Healthcare Industry All sector Technology B2B services € 1Bn ASSETS UNDER MANAGEMENT INITIATIVES PRI iCI ESG Data Convergence Initiative (EDCI) (2024) Benjamin ARM CEO benjamin.arm@idico.fr 06 88 05 46 49 SEE THE ENTIRE TEAMESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE 29 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 3 Members Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? idiCO ESG BOOK 2024/2025 Integrating ESG objectives into the remuneration of portfolio managers? For Article 9 funds For Article 9 funds 2 Women 25 % * Internal framework developed with a specialized third-party provider 34 % * How often are Sustainability Linked Loans implemented on operations? MAJORITY ARTICLE 6 9 FUNDS ARTICLE 8 10 FUNDS ARTICLE 8 1 FUNDS with sustainable asset share commitment € 497M € 55M € 305M ARTICLE 9 3 FUNDS € 179M Bn 1 € ASSETS UNDER MANAGEMENT SOCIAL Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER 10 % ,3ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS François-Xavier OLIVEAU Partner Transformation Solenne CHEURET Investment Director ESG TEAM fxo@initiative-finance.com +33 (0)1 56 89 97 00 sch@initiative-finance.com +33 (0)1 56 89 97 00 20, RUE QUENTIN-BAUCHART 75008 PARIS www.initiative-finance.com *as of Dec 31, 2023 QUALITATIVE DESCRIPTION INITIATIVE & FINANCE For Initiative & Finance, including ESG criteria in the investment policy helps to sustain and enhance the value of the companies in its portfolio: improving their risk profile, seizing additional growth opportunities and, ultimately, crea- ting more value. In 2020, Initiative & Finance launched a new fund, «Tomorrow Private Equity Fund 1», with the aim of supporting the environmental transition of French and European SMEs, in terms of both climate change (mitigation and adap- tation) and the preservation of ecosystems (biodiversity, resources, water and pollution). In practical terms, this transition becomes a strategic pillar of the company and is concretely deployed in operations: business model change, develop- ment of sustainable offerings, eco-design, redesign of production and logis- tics chains, circular model, etc. Tomorrow positions as an active partner in all aspects of this transition: strategy, operational priorities, action plans, perfor- mance measurement. This support is provided with dedicated resources, in particular Tomorrow’s Transformation partner and the support of managers who have themselves carried out an environmental transformation. A set of indicators building on the UN SDGs is put in place, monitored and shared with investors. In addition, for all its funds, Initiative & Finance systematically carries out an ESG assessment of companies during the investment phase. In the case of Tomorrow, this assessment deepens all environmental aspects. Once invested, Initiative & Finance supports its holdings in their continuous improvement process and systematically monitors ESG indicators. Particular attention is paid to four specific themes: climate change, training, integration of young people and gender equality. SEE THE ENTIRE TEAM ASSETS UNDER MANAGEMENT € 600M * AREAS OF EXPERTISE Buyout Growth capital Small and Mid Caps (from €2m to €80m tickets, including co-investment) PRIORITY VERTICAL SECTORS All sectors INITIATIVES PRI (2020) France Invest charters (including the Mixité charter) and BPI France READ THE 2023/2024 VERSION DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Integrating ESG objectives into the remuneration of portfolio managers? Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE SOCIAL 28 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 4 Members 1 Woman 14 % 12 Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? *For Tomorrow, 100% sustainable investments as defined SFDR regulations, including 49% aligned with European Taxonomy Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER INITIATIVE & FINANCE ESG BOOK 2024/2025 ASSETS UNDER MANAGEMENT 100 % ARTICLE 6 3 FUNDS ARTICLE 9 1 FUND *as of Dec 31, 2023 M 600 * * % ,5 Yes (for the Tomorrow Fund Investment Committee) No (for the SME strategy) For Tomorrow, strategy, subject to approval by the management team for the SME strategy Yes for Tomorrow Yes (objectives not quantified but integrated into variable remuneration ; for Tomorrow strategy, part of the carried is also linked to the achievement of ESG objectives) Yes for Tomorrow Yes for Tomorrow Initiative & Finance FCPR I Initiative & Finance FPCI II Initiative & Finance FPCI III Tomorrow Private Equity Fund I €ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Anthony DUBUT Managing Partner Pauline ELOY Director pauline.eloy@innovafonds.fr + 33 (0)1 84 79 49 80 anthony.dubut@innovafonds.fr + 33 (0)1 84 79 49 80 ASSETS UNDER MANAGEMENT € 500M * ESG TEAM 19, AVENUE VICTOR HUGO 75016 PARIS www.innovafonds.fr AREAS OF EXPERTISE LBO Capital-développement Flex Equity PRIORITY VERTICAL SECTORS Industrials Industrial services INITIATIVES PRI (2016) ICI (2019) QUALITATIVE DESCRIPTION INNOVAFONDS Our Sustainability approach was established a decade ago and has been en- hanced every year. During the pre-investment phase, we conduct an ESG audit and fulfill a climate questionnaire that influences investment decisions. Post-closing, we consistently carry out a carbon footprint assessment (scopes 1, 2, and 3) with an external firm which defines achievable decarbonization plans and trajectories. Our aim is to identify tangible and attainable levers. We will update the carbon footprint upon exit. Annually, we gather ESG KPIs from our investments and implement a sco- ring grid to assess each company. The non-financial reporting is shared with our subscribers and published on our website. We engage ESG discussions with our investments as needed, at least once a year through the Supervisory Board. Our ESG approach is operational, focusing on actions that create value for the company and its ecosystem. Here are some specific examples: Environmental footprint reduction through industrial process modernization, lean manufacturing, eco-design, and renewable energy use; Training and talent management plans to foster team growth and empowerment; Initiatives to enhance employee working conditions and ensure their safety; Balanced governance and value-sharing mechanism; Mechanisms favoring employee access to the company’s capital; External formalization and communication of our ESG policy, strengthening the company’s brand with stakeholders such as clients, suppliers, and employees, etc. SEE THE ENTIRE TEAM *as of June 30, 2024 READ THE 2023/2024 VERSION READ THE ESG CHARTER DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS ESG GOVERNANCE CLIMATE SOCIAL 16 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 4 Members 0 Women 25 % 0 % INNOVAFONDS ESG BOOK 2024/2025 ARTICLE 8 4 FUNDS FIT III €200M FIT II €120M PC II €55M PM I €100M Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? Integrating ESG objectives into the remuneration of portfolio managers? Is the percentage of sustainable assets held in the portfolio measured? Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER ASSETS UNDER MANAGEMENT *as of June 30, 2024 M 500 * €ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS € 6Bn * Coralie DE MAESSCHALCK Partner, Head of CSR & ESG Ilham ANSRIOU ESG Analyst ESG TEAM coralie.demaesschalck@kartesia.com +32 (0)2 588 73 37 Ilham.Ansriou@kartesia.com +32 (0)2 898 19 72 8 - 10 RUE LAMENNAIS 75008 PARIS www.kartesia.com AREAS OF EXPERTISE Private Debt Structured Credit Lower Mid-Market Impact Fund Sponsorless / Flex PRIORITY VERTICAL SECTORS Business services Healthcare IT & Telecom Industrials Industry agnostic INITIATIVES PRI (2014) ELFA (2022) France Invest (2023) TCFD alignment (2023)) Kartesia Philanthropy (2023) *as of 31/03/2024 QUALITATIVE DESCRIPTION KARTESIA Deal origination At Kartesia, as part of our Sustainability policy, we do not invest in companies covered by our sector exclusion list. We also have a separate list of activities that we may invest in, but which are highly sensitive so that will only be done with critical examination. To be up to date with all ESG changes, specific trainings and updates are given to the investment team on a regular basis. Due Diligence Our investment team performs an ESG analysis and allocates an ESG risk scoring for all the deals entering our pipeline. A detailed ESG due diligence questionnaire, which is regularly updated based on regulation evolutions, is filled in for all deals. Our ESG questionnaires are adapted to the type of investment: article 8 loan deals, article 9 loan deals, CLOs Investment holding We deploy our active engagement policy with most of our portfolio compa- nies, which enables us to support them in their ESG journey. Our ESG due dili- gence questionnaire is filled in by all the portfolio companies on an annual ba- sis. We extract KPIs from that questionnaire, and regularly monitor and track ESG performance of those companies. We assess the annual carbon footprint of all our holdings with the help of an external service provider. We share the main ESG & SFDR KPIs consolidated at fund level with our LPs in our quarterly reports, and also annually in our Sustainability Report. We operationalise ESG within Kartesia, meaning all staff members need to take responsibility for our values. For us, it is about fully integrating ESG into the organisation, not treating it as a separate department or a marketing tool. We have a centralised department, but everyone is doing the job. We have clear ESG procedures and training for the whole Kartesia team. ASSETS UNDER MANAGEMENT READ THE 2023/2024 VERSION DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE SOCIAL 88 People ESG AND CLIMATE COMMITTEE COMEX MEMBERS EMPLOYEES 2 Members 3 Women 21 % Do you assess the carbon footprint of the management company and set up reduction targets? Do you assess the carbon footprint of your holdings, including scope 3 ? Integrating ESG objectives into the variable remuneration of investment teams? Is the ESG manager a member of the Investment Committee? KARTESIA ESG BOOK 2024/2025 Integrating ESG objectives into the remuneration of portfolio managers? How often are Sustainability Linked Loans implemented on operations? SYSTEMATIC OCCASIONAL 2 % ,3 2 % *currently being raised * Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATICMAJORITYOCCASIONAL NEVER for our impact strategy for our impact strategy for our strategies KCO and KSO 0.1bn€ 0.1bn€ 5.6bn€ ARTICLE 6 1 FUND ARTICLE 8 6 FUNDS ARTICLE 9 1 FUND *as of 31/03/2024 ASSETS UNDER MANAGEMENT Bn 6 *€ESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS ASSETS UNDER MANAGEMENT 3 Md€ ESG TEAM 148 RUE DE L’UNIVERSITÉ 75007 - PARIS www.lbofrance.com/en AREAS OF EXPERTISE Private Equity Real Estate Venture Public equity PRIORITY VERTICAL SECTORS All sectors Digital Health Proptech INITIATIVES PRI (2011) ICI (2016, founding member) France Invest Parity Charter (2020) and Value-sharing Charter (2023) Sustainable Building Plan (2017) QUALITATIVE DESCRIPTION LBO FRANCE SEE THE ENTIRE TEAM Following the appointment of Stéphanie Casciola as CEO in June 2022, LBO France has thoroughly renewed its ESG and climate ambition. For LBO France, ESG and climate issues are key to value creation and lie at the heart of the investment approach. A high-level ESG and climate committee has been tasked with the strategic piloting of LBO France’s approach which operationally implements a fundamental principle: investment teams are at the center of ESG and climate action, throughout the investment cycle. Through a collaborative approach with operational teams and with the Head of ESG, LBO France’s investment teams perform ESG and climate analysis and implement action plan at the level of portfolio companies and assets. In 2023, LBO France has considerably ramped up its engagement with portfolio com- panies on climate themes. We provided resources and advice to help them perform their carbon footprints (Scopes 1, 2 and 3) and start emissions reduc- tion trajectories. LBO France’s platform strategy has been a differentiating factor for 20 years, combining investment experience with strong expertise on themes that pro- vide a societal impact such as digital health and Proptech. These are privileged vectors of LBO France’s ESG and climate ambition. The recent developments of the platform are fully integrated to LBO France’s ESG and climate approach, as evidenced by the awarding of the French SRI label to Public equity funds at the end of 2022 and the structuring of investment activities in Africa around impact themes. *As of 31/12/2023. Perimeter: LBO France and its subsidiaries. Total committment during the investment period, NAV post-investment periot Stanislas DE KERTANGUY Head of ESG stanislas.salaundekertanguy@lbofrance.com +33 (0)1 40 62 76 05 READ THE 2023/2024 VERSION READ THE ESG CHARTER DOWNLOAD THE FILEESG BOOK 2024/2025 I CFNEWS DIGITAL PUBLICATIONS including White Knight IX (Mid market), Small Caps Opportunities 2 (Small Caps) DH2 (Venture digital health) Is the percentage of sustainable assets held in the portfolio measured? ESG GOVERNANCE CLIMATE SOCIAL 64 People ESG TEAMBOARD MEMBERS EMPLOYEES 1 Head of ESG full-time 3 Women Are you committed to a Net Zero trajectory for yourself and your portfolio holdings? Do you assess the carbon footprint of your holdings, including scope 3? *as of Dec 31, 2023 Are you implementing the France Invest value-sharing scheme within your holdings? SYSTEMATIC MAJORITYOCCASIONALNEVER LBO FRANCE ESG BOOK 2024/2025 ASSETS UNDER MANAGEMENT ARTICLE 6 31 FUNDS ARTICLE 8 29 FUNDS We will systematically implement a value sharing framework aligned with France Invest recommendations for our next Midcap fund. 21% CUM 77% CUM * 38 % Integrating ESG objectives into the remuneration of portfolio managers? Integrating ESG objectives into the variable remuneration of investment teams? Does the ESG manager participate to the Investment Committee? ARTICLE 9 1 FUNDS 2 % NewStone sustainable investment criteria: contribution to the environmental and social transition of the real estate sector CUM 2% CUM NewStone LBO FRANCE ONLY 2 % Next >