ESG Snapshots on portfolio companies

Regarding our construction activities, we have decided to go through a green label certification process for 100% of our housing projects. As a consequence of this objective, the energy performance of our buildings is better than the current mandatory level. However, we have to permanently improve our performance in order to anticipate and keep abreast of constantly evolving regulations as well as adapting to the demands of our clients. This is especially useful when operating in a construction cycle lasting several years in order to avoid any kind of obsolescence at project delivery.

The Group is currently working on a better assessment of its site environment and impact based on a dynamic research project with IBM (Watson). Another ongoing project is assessing the energy consumption and GHG emissions (greenhouse gases) of buildings. The assessment should enable the Group to set a target-based policy derived from national policy on GHG emission on the following 4 topics : i) embodies energy and GHG emissions (construction material), ii) energy performance for running buildings (mainly mechanicals), iii) energy (mainly electricity) linked to occupants’ appliances and iv) impact of transportation linked to the buildings’ location and transport facilities.
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ABF has faced significant expansion with the development of the French Energy Saving Certificates, supporting ambitious energy efficiency measures on buildings. These certificates, credited by registered agencies, are generated by companies like ABF for their services in favor of the energy transition: ABF’s insulation services result in improved energy efficiency and therefore reduced energy consumption of buildings. Thanks to its activity and m² insulated, ABF can sell the ESC it generates to companies which need to fulfill their energy saving targets.

In a context where obtaining the RGE (Reconnu Garant de l’Environnement) certification is essential for generating the Energy Saving Certificates, the quality of the services is a material issue for ABF. The RGE certification enables to identify companies qualified to carry out energy renovation work and whose expertise is certified in terms of building energy efficiency.

“The transition to a low-carbon economy represents an opportunity for ABF and its subsidiaries. Indeed, the political willingness to reduce GHG emissions by focusing on building energy renovation will allow us to develop our client portfolio.”

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Created in 1998, ECS has experienced significant growth both organically and through acquisition of local companies, and in line with the globalization of its business activity. Operating in 47 countries, it quickly appeared essential to focus on the Group’s governance: anti-corruption and its existing regulations, respect of human rights and conflict of interests.

The ESG audit systematically conducted by external experts before investing, highlighted the material ESG thematic that, as newly majority shareholder in ECS, we wanted to discuss with the management of the company. We organized a meeting with the top managers in our Paris office. Alongside the financial criteria, we intended to discuss the main points of concerns on extra-financial criteria and worked on the implementation of the ESG roadmap. In this case study, we focus on the “G” and more specifically on Business Ethics.

“When conducting the ESG due diligences, we were pleased to see that ECS was already in advance with regards to business ethics and compliance thematic, in line with increasing clients’ expectations.”

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Teufel’s products are conceptualized and designed in Germany and later co-developed with different international suppliers. Teufel has implemented several measures to manage the relevant ESG issues facing its supply chain.

Teufel has formalized a CSR policy based on the UN Global Compact (ten sustainable business principles). The policy was communicated to all staff in 2018 and outlines the Group’s expectations towards it suppliers to ensure a resilient management of the supply chain.

A Supplier Code of Conduct has been formalized to ensure suppliers and subcontractors comply with the requirements for a sustainable supply chain as outlined in the CSR policy. Furthermore, the Group has developed a supplier audit system which is completed with all suppliers on a regular basis. In addition to quality standards, the supplier audits include central ESG criteria such as child & forced labor, health & safety, freedom of association, discrimination, disciplinary practices, working hours, compensation and environmental management.

“For us at Teufel it is important that suppliers understand how meeting our CSR criteria is beneficial to their performance. For example, how an improvement of workplace conditions is impacting staff satisfaction and ultimately results in improved employee performance and staff retention.”

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