Environmental, Social and Corporate Governance Responsibility (ESG)

Governing Bodies

Corporate
Governance

AINDA’s governing bodies are made up of world-class independent members, that contribute to an in-depth objective analysis and decision making on potential investments, as well as an effective asset management process.

Code of Conduct and Ethics

At AINDA we are committed to maintaining the highest standards of integrity, ethics, social responsibility, and respect for the environment by signing the Code of Conduct and Ethics which was developed together with UNPRI and must be ratified every six months by all directors, officers, and employees.

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The Code’s main components are:

  1. Compliance with applicable legislation

  2. Compliance with fiduciary duty

  3. Consistency with the Principles for Responsible Investment

  4. Evaluation of the social impact of activities carried out.

  5. Promoting sustainability and respect for the environment.

  6. Managing Conflicts of Interest

  7. Careful use of confidential information

  8. Regulating relationships with suppliers and customers

Responsible Investment Policy

At AINDA we are committed to implementing and supporting responsible investment principles and processes aligned with the highest international standards, which is why we have a Responsible Investment Policy developed based on our Materiality Study.

The policy is aligned with international frameworks such as: UNPRI, GRESB, TCFD and SDGs.

The Responsible Investment Policy was approved by our Board of Directors and serves to establish the general guidelines for the incorporation of ESG criteria in the Investment Process, from opportunity generation to exiting investments.

Diversity and Inclusion Policy

AINDA recognizes that the growth of the company is only possible in a diverse environment that allows for the realization of its potential through talent recognition and development. It also recognizes the importance of fostering a culture of creativity and innovation, which results from the interaction of different experiences and perspectives.

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General Principles

  • We promote a discrimination free workplace.

  • We strive for a respectful work environment where diversity is valued.

  • We respect and promote the right of people’s work-life balance, encouraging a healthy balance between our team’s work, family, and personal lives.

  • We permanently support substantive equality for all individuals.

  • We ensure there is no salary gap by using a third-party market study to serve as a reference point to determine remuneration.

  • We promote diversity, equality, and inclusion at all levels.

  • We promote an inclusive work culture that respects labor participation from vulnerable groups.

  • We recognize dignified employment and access to institutional assets and resources, information, communication, and opportunities on an equitable basis for all staff.

Supplier Policy

AINDA has a Supplier Policy which was approved by its Board of Directors. Its compliance is monitored through the Legal and Compliance Department and the Audit Committee.

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The Supplier Policy endorses AINDA’s commitment as a firm to carry out the selection, contracting, and payment to suppliers in a transparent and fair way, in compliance with applicable laws, in a professional and ethical manner, and aligned with our philosophy and principles, which are framed in our Code of Conduct and Ethics and consider best ESG practices and processes.

Cybersecurity Policy

AINDA has a Cybersecurity Policy which was approved by the Board of Directors and its compliance is monitored through the Systems Management Department and the Administration and Finance Department.

The policy keeps AINDA's corporate information secure, allowing the employee to have availability, integrity, and privacy in any technological assets. The policy prevents, identifies, and eliminates threats, in a timely manner, that could compromise AINDA's network.

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Positive Working Environment (PWE) Policy

AINDA is committed to fostering a positive working environment through the development and implementation of a policy designed in accordance with applicable legislation and global best standards.

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Initiatives that promote a positive working environment:

  • Promoting a sense of belonging
    • Individual Development Plan
    • Partnership

  • Annual Objectives Planning

  • Weekly Pipeline Meetings

  • Annual Program of Activities to promote PWE

  • Transparency Hotline

  • Performance Evaluation System

Materiality Assessment

The Materiality Assessment helped to prioritize ESG aspects consistent with the social and economic context of the company and the relationship with its stakeholders. This assessment was conducted by a third party based on GRI, SASB, World Bank, PRI. 

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United Nations Principles for Responsible Investment

The objective of the Principles for Responsible Investment is the long-term sustainability and stability of investments. AINDA is a pioneer in Mexico by being its first signatory back in January 2016, since then, AINDA has promoted and applied the Six Principles.

In 2020, AINDA achieved an A+ (the highest rating) in the Strategy and Governance Module and an A in the Infrastructure Module.

*The 2021 rating has not yet been issued.

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Six Principles of Responsible Investment:

1

Incorporate ESG topics into investment analysis and decision-making processes.
The Investment Process described in the Investment Prospectus incorporates the consideration of ESG topics.

As part of the projects’ Due Diligence process, AINDA hires expert advisors to identify ESG risks and opportunities.

2

Be a driving force in incorporating ESG topics into our ownership practices and policies.
AINDA has a Responsible Investment Policy, a Code of Conduct and Ethics, a Diversity and Inclusion Policy, and a Policy that Enables a Positive Working Environment.

3

Seek transparent disclosure of ESG issues from the entities that we invest in.
AINDA's investment philosophy is to actively participate in the management of the projects so we always have one or more members on all the boards of directors of the supported companies. Also, we always include the incorporation of ESG best practices as a priority in the agenda (e.g. GRESB assessment at asset level).

4

Promote acceptance and implementation of the Principles in the investment sector.
The AINDA team constantly participates in forums, committees, and councils with the aim of promoting a responsible investment agenda (e.g. CCFV, CESF, AMEXCAP ESG Committee, other forums, and workshops).

5

Working together to improve our effectiveness on the implementation of the Principles.
AINDA has submitted its performance to a benchmark evaluation to continue improving its performance, we participate in the annual evaluation of UNPRI, GRESB (fund level and asset level) and ALAS20.

6

Report our activity and progress on the implementation of the Principles.
Annually, AINDA publishes its Sustainability Report, and reports on its ESG performance quarterly to its governance bodies (Audit Committee, Board of Directors, Investment Committee and Technical Committee).

Global Real Estate and Infrastructure Sustainability Benchmark

As of 2020, AINDA participates in the evaluation of Environmental, Social, and Corporate Governance practices carried out by GRESB, a world leader in information analysis and generation of ESG benchmarks for real assets. GRESB has assets under evaluation of $4.5 trillion USD. In 2021, AINDA obtained the highest rating assigned in the evaluation carried out at GP level.

GOVERNART
ALAS20
Awards

In 2021, AINDA participated in the Responsible Investment Study conducted by GOVERNART, which seeks to evaluate institutional investors in Brazil, Chile, Colombia, Mexico, Peru, and Spain in the implementation of responsible investment practices. AINDA obtained the following recognitions:

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1st place

Leading Investor in Responsible Investment

1st place

Leading Investor in Corporate Governance

2nd place

Leading Investor in Sustainable Research

2021 Winner

2021 Category Winner: ALAS20 Grand Prix Institution of Latin America

2021 Winner

2021 Category Winner: ALAS20 Institution Mexico

Active Fund Management

With the objective of identifying and implementing actions that trigger an increase in the profitability of the projects in the long term, AINDA's investment process and strategy includes active participation in the management and governing bodies of the invested assets.

In this regard, at AINDA, we have participated, together with our partners in the projects, in the incorporation of ESG topics that allow for adequate risk management, as well as an increase in positive impact of the projects on the environment and society.

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Active Fund Management

With the objective of identifying and implementing actions that trigger an increase in the profitability of the projects in the long term, AINDA's investment process and strategy includes active participation in the management and governing bodies of the invested assets.

In this regard, at AINDA, we have participated, together with our partners in the projects, in the incorporation of ESG topics that allow for adequate risk management, as well as an increase in positive impact of the projects on the environment and society.

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Active Management

AINDA constantly seeks to participate in initiatives, with financial or human capital support, that it considers to be aligned with its principles and that produce a positive impact on society or the environment.

Natural History Museum

AINDA joined the Museum of Natural History and Environmental Culture renovation project in Mexico City, with the participation of Manuel Rodriguez Arregui. The project seeks to create a renovated space that includes promoting the following:  

  • Raising awareness and educating citizens and visitors of the intrinsic value of biodiversity and illustrating the consequences of its loss.
     
  • Communicating the importance of limiting global warming and what we can do as a society to help.


Supporting the Natural History Museum makes companies representatives of the ESG agenda.
 

ITAM Women

As part of the DEI Policy, AINDA decided to support the ITAM Women for Equality (MIPi) cause to:

Award academic scholarships to outstanding and talented female students.

Achieve equal participation of women leaders at ITAM.

Offer leadership programs to students so they can acquire and develop skills for a successful career.

Collaboration with Organizations

Infrastructure Advisory Committee

Manuel Rodríguez was appointed to the Infrastructure Advisory Committee at UNPRI for a 2-year term beginning in 2022 (see more).

Objectives:

  • Advise the PRI on goals and objectives, strategy and KPIs.
  • Raise awareness to strengthen the application of the Principles.
  • Participate in sub-committees and working groups.

Infrastructure Advisory Committee

Manuel Rodriguez was appointed Vice-Chairman of the Infrastructure Advisory Committee at GRESB for a 2-year term beginning in 2022 (see more).

Objectives: 

  • Support the development of the vision and strategy.
  • Issue recommendations for improvement to GRESB standards.
  • Monitor the activity of expert groups and working groups.

Green Finance Advisory Council Mexico

AINDA is the first CKD to become a member of the Green Finance Advisory Council (CCFV by its Spanish acronym), which aims to promote sustainable finance as a transformational driver for the transition to a greener and more inclusive economy. AINDA leads Working Group 4 "Sustainable Finance" and is part of Group 2 "Public Policy".

VALUE PROPOSITION

  1. Raise awareness in the financial sector on climate risks

  2. Strengthen market practices that allow for industry dialogue

  3. Capacity building among financial system professionals 

  4. Establish a representative voice of the sector to develop an agenda

  5. Implement performance indicators and metrics

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Sustainability Committee

Manuel Rodríguez, CEO of AINDA, was invited to represent the Green Finance Advisory Council (CCFV) in the Sustainable Finance Committee, which is part of the Financial System Stability Council. Its function is to recommend and coordinate policies, actions, or measures to promote financial stability. In addition, the Committee seeks to promote the transition to sustainable financing and the adoption of international best practices that contribute to the stability of the financial system.

ESG Committee

Tessy Rivera, CFO at AINDA, was appointed Chair of the ESG Committee and member of Amexcap's Board of Directors, where she will seek to promote best practices with respect to ESG issues among its members and to the industry at large. 

Infrastructure and Energy Committee

Manuel Rodriguez, CEO, was invited to participate in Amexcap's Infrastructure and Energy Committee. This committee seeks to promote the asset class among institutional investors, regulators, and the general public through the development of documents, webinars, working groups, among others.

Task Force on Climate Related Financial Disclosures (TCFD)

Beginning in 2021, AINDA declared its support for the Task Force on Climate Related Financial Disclosures (TCFD, by its Spanish acronym), joining over 2,000 organizations in demonstrating their commitment to building a more resilient financial system and protecting against climate risk through disclosure.

AINDA is currently working with CCADI and Transforma in a consultancy pilot program which aims to create a roadmap to integrate TCFD recommendations.

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Global Real Estate and Infrastructure Club

AINDA plays an active role in the GRI Club, a networking platform with over 11,300 C-level executives in more than 100 countries, through continuous participation in events, forums, panels, among others.

Partnership
Model

Our model allows employees to purchase GP shares and access carried interest and dividends to align incentives and retain long-term talent.

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Professional Development

To reinforce the professional development of the team, AINDA conducted an independent diagnosis of leadership skills with each employee, carried out by a leading global firm (CCL).

Each employee is assigned a mentor whose objective is to support the employee with his or her professional development at the firm.

With the support of the mentor, AINDA employees draw up an individual development plan with their professional goals and expectations for medium- and long-term growth.

Each AINDA member is evaluated annually with a 360° methodology, designed internally, and reinforced by a specialized global firm, which serves as the basis for setting variable compensation and promotions. The methodology is based on a weighted system which incorporates: (i) Capital raising and opportunity generation, (ii) Revenue generation (case by case), (iii) Management of invested assets and (iv) Leadership, assigned functions and contributions to the firm. In the latter two, all employees are evaluated on the incorporation of ESG aspects at the project and GP level.

Sustainability Report

Through the annual publication of the Sustainability Progress Report and in the spirit of adhering to best practices of transparency, AINDA discloses to the public, and particularly to its stakeholders, the initiatives, activities, results, and objectives related to the incorporation of ESG topics in the investment process and in the company’s operations.

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Fernando F. Gómez Mont Urueta

Technical Committee

Current

  • Partner at Zinser, Esponda y Gómez-Mont


Previous Positions

  • Minster of the Interior
  • President of the Justice Commission, Congressional Federal Deputy
  • Member of the National Executive Council and of the Political Commission of the National Action Party (PAN)
  • Founding partner of ADP


Education

  • Law degree from the Escuela Libre de Derecho

Enrique Barón Crespo

Technical Committee

Current

  • President of the International Yehudi Menuhin Foundation and the European Foundation for the Information Society


Previous Positions

  • President of the European Parliament
  • Spain’s Minister of Transportation, Tourism and Communications
  • Councilor on Madrid’s City Council
  • Orden del Águila Azteca, Venera rank 
  • Doctorate in Law from the Universidad Complutense de Madrid


Education

  • Degree in Business Administration from ICADE and ESSEC

Ginger Evans

Technical Committee

Current

  • CSO of CAG Holdings, a Carlyle Company


Previous Positions

  • CEO of Reach Airports Arlington Virginia
  • Airport Director, Chicago O'Hare
  • Vice President, Parsons Corporation
  • Led the design and construction of the Denver airport
  • Aviation Director, Denver Airport


Education

  • B.S. and M.S. in Civil Engineering, Colorado State University

Louis Ranger

Technical Committee

Current

  • OAG Corporate Director


Previous Positions

  • Canada’s Deputy Minister of Transportation, Infrastructure, and Communities
  • Member of the Board of Canada’s Mortgage and Housing Corporation
  • Excellence in Public Service Award


Education

  • B.A. and M.A. in Economics from the Universities of Ottawa and Montreal

Raúl A. Livas Elizondo

Technical Committee

Current

  • Partner at ST Energía


Previous Positions

  • PEMEX Corporate Planning Director
  • Director of PEMEX Petrochemicals
  • Head of the Energy Policy Unit at SENER
  • Managing Director of MXV Capital Ventures
  • National Economics Award

Education

  • PhD in Economics from MIT
  • Degree in Economics from ITAM

Louise K. Goeser

Investment Committee

Current

  • Board Member of Talen Energy Corporation, MSC Industrial Direct Co., and Seguros Monterrey NY Life


Previous Positions

  • President and CEO of Siemens Mesoamerica
  • Vice President of Global Quality at Ford Motor Co.
  • Teacher of Business Administration at University of Pittsburgh


Education

  • Economics Degree from Penn State

Leonardo Rinkenbach Lizárraga

Technical Committee

Current

  • Partner at AINDA Consultants


Previous Positions

  • Consultant Stern Stewart & Co


Education

  • Diploma in Oil Sector Investment Opportunities, CWC School for Energy
  • Bachelor’s Degree in Administration from ITAM

Guillermo Guerrero Villalobos

Technical Committee / Investment Committee

Current

  • General Manager of Dirac


Previous Positions

  • Deputy Director of Construcción de Renovación Habitacional
  • General Director of CFE and LyFC
  • General Director of CONAGUA
  • National Civil Engineering Award


Education

  • Civil Engineer from the Instituto Politécnico Nacional

Eduardo Barreda Cantú

Board of Directors / Audit Committee

Current

  • CFO of Metalsa, a subsidiary of Grupo Proeza


Previous Positions

  • Principal, A.T. Kearney
  • Engagement leader, London Consulting Group
  • Operations Manager, Corporate Values
  • Manager, UPS
  • Supply Chain Supervisor, Cargill Foods


Education

  • Investment Strategy and Portfolio Management, Wharton School 
  • MBA, London Business School
  • Industrial Engineer, University of Pittsburgh 
  • Industrial and Systems Engineer, ITESM

José Oliver
Venegas Pineda

Technical Committee / Investment Committee

Current

  • Director of Corporate Finance, Grupo Proeza


Previous Positions

  • Director of Financing, Grupo Proeza
  • Director of Analysis, Verum Ratings
  • Director of Credit Risk, Savings, and Welfare Banking Sector, Grupo Financiero Banorte
  • Associate Director Financial Institutions, Fitch Ratings


Education

  • Master of Business Administration, The University of Texas at Austin - Red McCombs School of Business
  • Master’s Degree in Finance, Instituto Tecnológico y de Estudios Superiores de Monterrey
  • Bachelor's Degree in Economics, Instituto Tecnológico y de Estudios Superiores de Monterrey

Jorge Ávalos Carpinteyro

Audit Committee

Current

  • CEO and Founder, Fibra Monterrey
  • Founder and shareholder, Shopnet
  • Chairman of the Board, Escala Project Management
  • Board of Directors, AMPIP and AMEFIBRA
  • Member of the Audit Committee, Delta USA Fund I, II, III, IV


Previous Positions

  • Board Member, Invex Grupo Financiero 
  • Regional Director in Monterrey, Banco Invex


Education

  • Graduate Diploma in Business, Harvard
  • Senior Management Diploma, IPADE
  • MBA, University of Dallas
  • Bachelor’s Degree in Accounting, ITAM

Antonio Moya-Angeler

Compensation Committee 

Current

  • Board Member, Cognitive Experts
  • Board Member, Colegium


Previous Positions

  • Partner and member of the Latam Investment Committee, Advent International


Education

  • MBA, MIT Sloan
  • Bachelor's Degree in Administration from the Universidad Pontifica Comillas and NEOMA Business School

José Antonio
González Anaya

Investment Committee

Current

  • CEO, Izzi - Grupo Televisa


Posiciones anteriores.

  • Secretary of Finance and Public Credit
  • CEO, Petróleos Mexicanos (PEMEX)
  • CEO, Mexican Institute of Social Security (IMSS)
  • Undersecretary of Finance (SHCP)
  • Chief of Staff, Ministry of Finance and Public Credit (SHCP)
  • Head of Coordination with the States, Ministry of Finance and Public Credit (SHCP)
  • Head of Pensions, Insurance and Securities Unit, Ministry of Finance and Public Credit (SHCP)
  • Professor and Senior Research Fellow, Stanford University


Education

  • PhD. in Economics, Harvard University
  • B.S. in Economics and Mechanical Engineering, Massachusetts Institute of Technology (MIT)

Juan C. Zambrano Benitez

Comité .....

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Isaac Chavero González

Financial Analyst

Isaac has a degree in Financial Management from the Instituto Tecnológico Autónomo de México.

In 2021, he began his career at CKD IM, a private equity fund that focuses on the infrastructure, energy, and communications sectors, where he participated in the management of a portfolio comprised of five wind farms and three solar farms, totaling a capacity of more than 1.8 GW. Additionally, he supported the investment team during its FibraEMx capital raise and due diligence process.

Isaac also has experience as an investment banking analyst, advising on the capital raising process.