Responsible Investment

As a long-term investor in infrastructure assets, Utilities of Australia Pty Ltd (UoA) recognises the importance of environmental, social and governance (ESG) considerations in both investment decision making and the ongoing management of UTA’s infrastructure assets.  UoA believe that the appropriate consideration of ESG issues will increase the probability of sustainable outperformance over time, and that a strong ESG focus is consistent with our long-term objectives and our fiduciary responsibilities to investors. 

UoA has a vision for UTA to deliver industry leading environmental, social and economic outcomes, and to be recognised as a global leader in responsible infrastructure investment.

UoA are committed to the measurement of ESG metrics and benchmark performance against accepted industry standards such as the GRESB Infrastructure Fund Assessment. UoA believe that setting medium-term ESG targets allows us to articulate clearly our ESG expectations to stakeholders and allows targeted improvement strategies to be developed by UTA's investee companies.

Morrison & Co's purpose is to invest wisely in ideas that matter and, in doing so, it aims to create long-term value for its clients, the environment and society.  Applying an industry leading responsible investment approach across each element of the investment process is closely aligned with Morrison & Co's purposes and its corporate values.  The Morrison & Co Responsible Investment Policy is available on its website.

Portfolio level GRESB Infrastructure Assessment performance
Asset level GRESB Infrastructure Assessment performance

Assets

Below are case studies of responsible investment initiatives being undertaken at select UTA assets.

Perth Airport

  • Rated by airlines as Australia’s best major airport in the Australian Competition and Consumer Commission (ACCC) monitoring report;
  • Level 2 (Reduction) accreditation achieved in the global Airport Carbon Accreditation program;
  • Strong/Robust performance in the annual RepTrak perceptions measurement survey;
  • Water treatment trials being undertaken on-site to investigate the potential to remove PFAS substances;
  • Committed to best practice indigenous engagement and has established a partnership with the Wirrpanda Foundation that supports indigenous employment;
  • Its Public Art Program reflects Western Australia’s unique and diverse culture, natural beauty and environmental features, as well as recognising the airport’s strong Indigenous heritage.

 

Phoenix Natural Gas

  • The Phoenix LIFE (Leadership, Investment in People, Fostering Community, Environment) ESG program provides an overarching framework for the initiatives that positively impact its marketplace, workplace, environment and community;
  • It achieved Platinum status (the highest scoring level) in the 2019 Northern Ireland Environmental Benchmarking Survey;
  • The business has enabled the delivery of significant carbon emissions reductions by enabling the conversion of oil-based residential heating systems to natural gas-based systems;
  • It is a strong supporter of the need for an educational focus on STEM (Science, Technology, Engineering and Maths) subjects.

 

TransGrid 

  • The business will provide the transmission infrastructure that will enable large scale energy storage capability via Snowy 2.0 scheme;
  • It supports improved electricity market dynamics and increased supply resilience through QLD, VIC and SA interconnector projects which will also open up new renewable energy zones/corridors;
  • It implements a best practice Diversity and Inclusion strategy, with a strong focus on increasing the recruitment of women and people with an indigenous background. It has developed a Reconciliation Action Plan that recognises the role it has to play in helping to reconcile Australia.;
  • Through its Community Partnerships Program, the business actively contributes to areas where its infrastructure is located, and where it is undertaking network upgrades;
  • Its BeSafeKids initiative an engaging program that educates children about electrical safety.