Fengate releases first Sustainability Report in Toronto, Sept 2024

Fengate Asset Management has released its inaugural firmwide Sustainability Report, highlighting its commitment to environmental, social, and governance (ESG) initiatives. The report covers the firm’s performance throughout 2023 and the first quarter of 2024 across its infrastructure, private equity, and real estate sectors. A dedicated in-house ESG and Sustainability team was established, and a robust ESG program was implemented, reflecting the firm’s long-standing dedication to responsible investment practices. Key achievements in the environmental domain include a renewable energy generation capacity of 750MW, which produced over 1.6 million megawatt hours of renewable energy, sufficient to power more than 160,000 homes. Additionally, Fengate achieved a 100% diversion rate of commercial property waste from landfills and reduced greenhouse gas emissions by 25% across its office properties, resulting in significant energy savings. On the social front, Fengate launched a responsible labour engagement program and contributed to the community by delivering six new schools and 8,000 desks in Prince George’s County, Maryland. The firm also enhanced its Indigenous engagement initiatives and focused on diversity and inclusion through its Equity, Belonging, Inclusion and Diversity Think Tank. Governance improvements were noted with an increase in the firm’s Principles for Responsible Investment score, and Fengate was recognized as one of Canada’s Best Managed Companies for the 16th consecutive year. The report underscores Fengate’s commitment to integrating ESG principles into its investment decisions, aiming for continuous improvement in sustainability practices moving forward.