RESPONSIBLE OWNERSHIP OF TRADITIONAL ASSETS
Improving the sustainability of traditional energy assets, infrastructure and processes, which the world will need for decades ahead
First Reserve believes that responsible investment considerations are important to the formation and development of resilient companies and assets which can create long-term value for all stakeholders – our investors and their beneficiaries, our employees and our portfolio companies and the communities in which they operate. Particularly as an investor with focus on the energy, utility and industrial end markets, we have long understood that a thoughtful, integrated approach which prioritizes the well-being and safety of our portfolio workforce, the integrity of the environments and communities in which our portfolio operates, and the ethical fortitude of our partners is critical. This belief is an embedded part of First Reserve’s 40-year culture, a core part of First Reserve’s investment practice, and a key component of our long-term success.
Consistent with our fiduciary duties, we manage our funds with the primary obligation to maximize the value of their holdings for the benefit of our investors. In carrying out this duty, First Reserve understands that a broad range of environmental, social, and governance (ESG) factors may be relevant in assessing whether particular investments may be additive or detrimental to this objective. These non-financial, ESG considerations are taken into account to the extent they affect an investment’s risk and return profile. This approach emanates from First Reserve’s core values and the express goals of our investors.
We are proud of our commitment to responsible investing. We believe that responsible investment across multiple forms of energy is critical to meet the dual global goals of achieving energy security and affordability and reduction of greenhouse gas emissions.
First Reserve has a long-standing commitment to responsible investment principles. This is First Reserve’s fourth annual Responsible Investment Report, exhibiting recent accomplishments and continued stewardship across our portfolio.