TRIG has further aligned its financial operations with deliverance of the company’s Environmental, Social and Governance (ESG) goals, entering into a Foreign Exchange agreement which is linked to the Company’s sustainability performance.
Building on TRIG’s sector first ESG-linked revolving credit facility, introduced during Q4 2020, InfraRed has worked with NatWest Capital Markets for TRIG to become the bank’s first Alternative Investment Fund to link performance against its key sustainability measures to its FX hedging cost. As part of the agreement, TRIG will receive a sustainability payment when it delivers against its established ESG goals.
These ESG goals, which TRIG already reports on, benefit those in the communities in which TRIG operates, helping to generate cleaner energy and support jobs in local communities. The metrics measured include:
- The number of homes powered by clean energy from TRIG’s portfolio
- The number of community funds supported by TRIG
- Maintenance of a low Lost Time Accident Frequency Rate (LTAFR)*
This agreement, and the further integration of ESG into the Company’s processes, underlines TRIG’s commitment in contributing to SDG 13 Climate Action and achieving its purpose of supporting the transition to a zero-carbon future.
Richard Crawford, Director, Infrastructure at InfraRed Capital Partners:
“TRIG is delighted to have worked with Natwest to become the first Alternative Investments Fund to link its hedging activities to the ESG performance of the Company. We believe embedding sustainability into our activities across the full investment cycle helps ensure sustainable returns for our investors.”
*A safety at work metric which measures the number of personnel injured and unable to perform their normal duties for seven days or more, for each hundred thousand hours worked.
