We strongly believe that in order to create value for our stakeholders it is essential to balance economic growth with the pursuit of social development and respect for the environment.
Companies that carefully manage ESG (environmental, social and governance) risks and opportunities today should be better situated in the future as diminishing resources, changing consumer demands and increased regulation are expected to pose greater challenges and opportunities.
Including sustainability issues in our ownership policies and practices ensures a complete and forward-looking view of the real value of our firm and portfolio companies and enables the development of a sustainable long-term strategy for the progress.
In 2021 Progressio received the B Corp certification.
REGULATION (EU) 2019/2088 ("DISCLOSURE REGULATION")
Following the adoption of the 2015 Paris Agreement on climate change and the United Nations 2030 Agenda for Sustainable Development, the EU Commission has expressed its intention to increase transparency in the field of sustainability risks and sustainable investment opportunities with the aim to:
– reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth;
– assess and manage relevant financial risks stemming from climate change, resource depletion, environmental degradation and social issues; and
– foster transparency and long-termism in financial and economic activity.
As a consequence, pursuant to Regulation (EU) 2019/2088 (“Disclosure Regulation”), financial market participants and financial advisers are required to disclose specific information on their approaches to the integration of sustainability risks and the consideration of adverse sustainability impacts.
RESPONSIBLE INVESTMENT POLICY
With our Responsible Investment Policy, since 2018 we have formally committed to pursuing an investment strategy that aims at achieving financial returns while ensuring the utmost respect for the rights and dignity of the people and for the environment in which we live.
In particular, we believe that ESG factors can influence investment risks and returns and therefore we have decided to incorporate that criteria into our investment analyses and decision-making processes, throughout all the main phases of the investment cycle.
The respect of the Responsible Investment Policy is ensured by the ESG Manager, responsible for its supervision and overall implementation.
Before the investment, all potential targets undergo an ESG screening process aimed at assessing, in parallel to their financial performance, their potential opportunities and risks associated with the ESG criteria relevant to Progressio.
During the holding period, ESG criteria constitute an integral part of our approach towards the monitoring and evaluation of the performance of our portfolio. Each company is encouraged to monitor and evaluate its sustainability performance and to promote high standards of transparency and continuous performance improvement in order to reduce its impact.
INTERNAL CODE OF CONDUCT
Progressio, with the adoption of the Internal Code of Conduct (which refers to the code approved by the Board of Directors of AIFI – Italian Association of Private Equity and Venture Capital), formally undertakes to carry out its business on the basis of honesty principles, transparency and correctness, independence, objectivity, legality, professionalism, confidentiality.
The rules of the Internal Code of Conduct are aimed at ensuring that Progressio operates in the interest of the investors of the managed funds, safeguarding their rights.
In 2021 Progressio obtained the BCorp certification.
Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corp are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment with the aim to redefine success in business and build a more inclusive and sustainable economy.