Responsible Investment

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Approach
Evolution
Policies and Resources
CCI

Our Approach

Responsibility underpins AlbaCore’s culture. We believe the identification and management of potentially material risk exposures throughout the investment lifecycle is important to preserve investor capital. AlbaCore is committed to investing responsibly, by considering and integrating material environmental, social and governance (“ESG”) factors into its decision-making. This commitment applies to both investment practice and business operations, to support the identification and management of risks and opportunities. By incorporating material ESG factors in our investment process, we seek to meaningfully preserve the value of portfolio assets and protect the interests of our investors.

Evolution of AlbaCore’s ESG Strategy

2010-2016
The senior investment team started investing with an ESG focus in 2010 when they worked together at Canada Pension Plan Investments (CPPIB).
2016
The senior investment team integrated the ESG approach from day 1 at AlbaCore. Investment process established with ESG considerations for all portfolio investments, and more broadly into firm management and values.
2017
Investment team training on ESG approach and criteria with MSCI platform when introduced.
2018
Subscribed to MSCI ESG platform as a resource to bolster internal analyst research and company provided information.
2018
AlbaCore completed Scope 1 and Scope 2 carbon offset.
2019
ESG Committee formed with individuals from across business functions.
2019
AlbaCore's CLO platform launched with ESG screening integrated into documentation.
2019
Deborah Cohen Malka joined LPGP panel on 'ESG Best Practice in Credit Investing'.
2019
Tobacco added to industry exclusion list.
2020
ESG Risk monitoring tool established.
2020
Private Prisons added to exclusion list.
2020
Completed Scope 1, 2 & 3 (excluding investments) through nature-based & industrial carbon removal projects.
2021
UNPRI signatory, supporter of TCFD and CDP investor signatory.
2021
Partnered with a GHG analytics specialist.
2021
Joined ELFA's ESG Committee as a Board member
2021
Best ESG Investment Fund, ESG Investing Finalist: Awards 2021.
2021
Launched the Carbon Conscious Investing ('CCI') strategy providing GHG reporting.
2022
Published AlbaCore's first Responsible Investment Report.
2022
DEI Committee formed with individuals from across business functions.
2022
Best Climate-Related Reporting, ESG Investing Finalist: Awards 2022.
2023
PRI published a case study on AlbaCore's CCI approach.

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Our Responsible Investment Process

The consideration of environmental, social and governance factors is an integral part of AlbaCore’s investment process.

Negative Screening

During business selection, AlbaCore screens potential investments for risks in accordance with the Negative Screening Process. Revenue thresholds are used to exclude certain industries.

Pre-investment due diligence

AlbaCore’s ESG risk matrix is used to guide the assessment of certain potential investments, supporting the identification of potentially material environmental, social and governance risk exposures and possible mitigants.

Investment Committee

ESG risk exposures, and possible mitigants, are considered during Investment Committee meetings; where appropriate, potentially material risks are identified for possible engagement opportunities post investment.

Portfolio monitoring and engagement

Engagement with underlying investments is considered complementary to traditional portfolio monitoring. AlbaCore’s investment team engages with company management or deal sponsors on sustainability matters, where practicable and appropriate.

Policies and Resources

AlbaCore’s Negative Screening Process

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Taskforce on Climate-related Financial Disclosures 2024 Report

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AlbaCore’s SFDR Disclosure

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AlbaCore Responsible Investing & ESG Policy

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Our Industry Partners

Carbon Conscious Investing (CCI)

In 2021, AlbaCore introduced Carbon Conscious Investing (CCI), which is a solution to provide transparency on a portfolio's estimated carbon footprint. CCI will provide quarterly and annual reporting on the carbon footprint of the portfolio as a whole as well as on a line-by-line basis. We want to be a thought leader in the credit space and set a blueprint for our asset class. This allows investors to directly compare their credit portfolio's carbon footprint across portfolios, investments, time-period and asset classes. The model is verified by a third-party carbon specialist.

We worked with the PRI on a case study covering AlbaCore’s approach to Carbon Conscious Investing (CCI). This case study is published on their website:

View the Case Study