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Investor of the year (asset manager): JGP Asset Management
With $7 billion in assets under management, Brazilian investor JGP Asset Management takes home the award following an increase in its engagement efforts with companies to improve ESG factors.
In the last year, JGP reports it participated in over 190 engagement meetings with companies, addressing deforestation as a key concern. Both within the context of direct and indirect impact, deforestation was discussed in the context of meatpacking, cosmetics, and banking, for example.
Another key engagement relates to the human rights aspects of a mining company, conducting on-site visits to operations and dialogues with stakeholders, particularly the communities affected by mining activities.
In October 2022, JGP issued and structured a BRL$32 million ($6.4 million) Green Agribusiness Receivables Certificate (CRA) for Tobasa, a Brazilian company focused on activated carbon for the filtration of water for human consumption and basic sanitation. In its award submission, the asset manager claimed the transaction marked the first bioeconomy financial product in the Brazilian market.
The business hopes to provide income for 1,500 ‘agroextractivist’ families who collect fallen fruit from palm trees in the Amazon region, and who depend on what native forests can provide.
A signatory of a variety of coalitions, JGP prides itself on being the only asset manager in the Global South to be a signatory of the following four simultaneously: the Finance Sector Deforestation Action (FSDA) Initiative, the Investor Policy Dialogue on Deforestation (IPDD) Initiative, Finance for Biodiversity pledge, and the FAIRR Initiative.
José Pugas, head of ESG at JGP Asset Management, said: “We are deeply honoured by the award. We believe that this achievement will have a direct impact on the perception that the Global South’s financial market is sophisticated and essential in accelerating the new green era of the global financial sector.”