For planet and people, investing with honesty, integrity, fairness and respect

1.1 Environment

We are aware of our environmental impact, both in the UK and in the countries in which we operate and where possible aim to minimise any detrimental effect that our actions may have. We aim to reduce our carbon footprint wherever possible and regularly review our practices to ensure that we honour our commitment.

We invest responsibly and carefully consider any potential investee company’s attitude to waste management, energy and sourcing as part of our pre-investment process. Should a company not comply with our statutory or regulatory requirements then we will seek assurance that management has realistic plans in place to resolve this within a reasonable time frame.

We will carefully consider a potential investee company’s attitude to farm welfare issues prior to investment, and will continue to do so throughout their purchase, holding and/or divestment. We believe in the values set out by the BBFAW and will use these as a benchmark against which to measure the corporate practice of firms that we are looking to invest in.

We work with our investee companies to ensure that environmental legislation is adhered to and insist that any breach is reported to the necessary authorities and the Board of PSC.

PSC board members in investee companies always encourage management teams to abide by environmental policies in their operations. Should an investee company make any acquisitions while under our ownership, we make sure that they consider environmental policies in during due diligence, and monitor them after acquisition.

1.2 Social

PSC ensures that labour and working conditions of the investee companies we manage meet the required regulatory standards to safeguard the health and safety of the employees; and to promote the social development of the communities in which they operate.

We will actively work with our investors to ensure that their ESG concerns are addressed, with specific investment restrictions being enshrined in the Limited Partner Agreements to our Funds to demonstrate our commitment to our principles. For example, we will not invest in any Company that is:

    • Directly or indirectly involved in the production, sale, supply or distribution of cluster munitions, landmines, nuclear weapons, chemical weapons, biological weapons or depleted uranium
    • Listed on the stock exchange of Myanmar, Sudan, North Korea, Iran and/or Somalia or that is registered or has its principal place of business in any of these countries; nor whose turnover substantially (50% or more) originates from these countries
    • Directly or indirectly involved in the growth, manufacture, or sale of tobacco products; but excluding, for the avoidance of doubt, any company involved in the supply chain related to the manufacture or trading of non-tobacco components of tobacco products

1.3 Governance

PSC strongly believes in, and promotes, honesty, integrity, fairness and respect in all its business dealings. We are committed to making every effort to meet stakeholders’ expectations and provide them with clear and transparent information.

PSC have adopted a responsible and ethical approach to governance, especially regarding issues such as anti-money laundering, anti-corruption and reputational due diligence. Senior management provide leadership and strategic direction for the Firm, our Investment Committee makes our Investment decisions and our Remuneration and Risk Committees ensure that we comply with national laws and implement regulatory practices.

We have stringent internal policies to eliminate conflicts of interest however if a conflict arises we adopt an approach of integrity and professionalism. Each fund also has an Advisory Committee in place to that discuss the fund's investment strategy, performance and any potential or actual conflicts of interest.

PSC regard implementation of our ESG policies as an ongoing project. We review the policy’s effectiveness and implementation on a regular basis, and report relevant findings and recommendations to our Board.