Click here to read the full reportApax Sustainability Report
Apax has an unwavering commitment to responsible investment and sustainability has been embedded throughout the investment process for well over a decade.
This commitment has been formed by the conviction that a responsible investment strategy not only supports maximised economic returns for investors but can also deliver a net benefit for society and the environment.
Apax have been signatories of the UN’s Principles for Responsible Investment (PRI) since 2011. Apax has received an A+ rating in both the Strategy and Governance Module and the Direct Private Equity Module for the past four years.
Published annually since 2012, the Sustainability Report highlights the wide-ranging Environmental, Social, and Governance (ESG) initiatives undertaken at Apax and the Apax Funds’ portfolio companies.
Download the Apax Sustainability Report here.
The recent unprecedented times have underscored the importance of an integrated approach to creating strong and robust businesses, supporting the investment case for ESG. The current crisis has proved the value of resilience and long-term sustainable strategies.
As the pandemic took hold, our team responded quickly and a cross-portfolio Covid-19 taskforce was assembled in early March 2020 to provide a platform that enabled sharing of experiences and best practice among portfolio company executives.
The Apax Buyout Funds’ portfolio can be qualified as ‘asset light’ and the most material environmental indicator for many companies is electricity usage. Several early movers among the portfolio companies are developing detailed climate strategies by setting Carbon Neutral targets (e.g. Wehkamp and TietoEvry) or committing to Science-based targets (e.g. Thoughtworks). There are also several initiatives underway to reduce complexity, waste and natural resource consumption,, focusing on waste reduction, reuse and recycling in particular.
The Apax Funds’ portfolio companies employ almost 95,000 people combined and with this comes a responsibility to ensure that processes and practices are in place across the portfolio to support the wellbeing of the workforce. Through collecting multiple indicators on the employee base and its wellbeing Apax is able to highlight key best practices and also areas where more focus is required. One of these topics is the inclusion and diversity profile of the Apax portfolio companies.
Apax believes that good corporate governance is the foundation of effective corporate management. Virtually all companies have a code of conduct and/or a code of ethics which guides their business activities. Portfolio companies that are new or which have historically had less focus on governance are actively encouraged to adopt appropriate codes and processes within the first year of investment.