Commitment to a better strategy and complete transparency in every all our undertakings, be it enterprise, project, or investment.
Elevate Capital Management is a strategic investment management company dedicated to creating value through a combination of carefully crafted investment structures. Elevate’s proprietary reach to deal organization and structuring with its impact driven approach produces investment that are resilient to change. We work with management teams worldwide to deliver both financial and sustainable returns to all stakeholders.
At Elevate Capital Management, in addition to strategic management guidance, through our post-integration team, we offer a full array of value creation strategies for our portfolio companies. Across our ventures, we unlock both vertical and horizontal synergies through the optimization of the value chain allowing our investments rapid growth through both organic and planned expansion strategies.
We believe it is our responsibility to ameliorate the lives of the communities we serve by enriching the standards of social sector industries, including healthcare, education, and financial services. We built policies and strategic ESG considerations that create a wealth of sustainable progress while promoting robust financial returns.
Through all endeavors, Elevate Healthcare strives to better communities. We strive to fulfill our core values of being patient focused, to maintain integrity in everything we do, to respect everyone and everything, to provide full transparence in all undertakings, and to prove accountable in all matters.
In support of this, we aim to measure, and report Environmental, Social and Governance (ESG) influences that we generated. The purpose of this document is to outline the overarching policy of Elevate Healthcare and any subsequent venture under its jurisdiction.
With an aim to become industry leaders in Healthcare, Elevate’s vision is to:
- Work and invest seeking ventures that are profitable to all stakeholders.
- Empower communities in which we invest such that we can see them prosper.
- Encourage people for social justice, fair wages, and provide an exit for those underserved.
- Identify opportunities that will benefit gender equality and children’s health.
- To ensure that we carry our every step of our ESG Strategy.
This Policy applies on all Elevate operating business activities and all managed portfolio companies,Funds..etc.
Environmental, Social and Governance Policy
Objectives and scope
This document provides the ESG Policy and the guidelines, which Elevate will utilize to achieve its ambitions. To maintain the promise of responsibility, Elevate will produce annual ESG reporting to disclose ESG performance data and its effects on our investments and commitments.
Elevate aims to extend its ESG practices to support its portfolio companies at improving their ESG practices and policies.
Environmental, Social and Governance Standards
We are committed to reducing our impact on the environment throughout the lifecycle of our investments and beyond by ensuring our portfolio companies use energy efficiently, minimize greenhouse gas emissions, use water responsibly, reduce waste, responsible disposal of hazardous waste and choose sustainable materials when sourcing.
A deep commitment to social responsibility is core to who we are as an impact investment company. We believe people are at the heart of our business and take pride in our outstanding work culture. We strive to be an optimal employer to our workforce and a valued partner to our communities through the following principals:
- Preserve human rights and avoid abuse
- Encourage diversity and equality
- Prevent discrimination practices against employees
- Ensure proper maintenance of health and safety requirements
- Encourage Corporate donations
- Ensure that suppliers do not employ children below 18 years old
- Ensure delivering proper training and awareness sessions on ESG to support Elevate commitment to ESG
We view good governance as essential to creating and preserving value for our shareholders and other stakeholders. This includes a sound approach to corporate governance that complies with all applicable laws, rules, regulations, and policies as well as unwavering adherence to our values by:
- Maintaining Corporate Code of Ethics and Conduct
- Maintaining power balance between CEO and the board
- Proper management of executive remuneration
- Any product or activity subject to national or international regulations or to an international ban
- Weapons and munitions
- Gambling casinos and adult entertainment
- Money laundering
Approval and Review
This ESG policy is reviewed by the ACRES Board and the Investment Committee of each of Elevate’s investments or funds and is approved by its Board of Directors.
Roles, Responsibilities, and Oversight
The overall responsibility of Elevate’s ESG Policy ultimately rests with the Board of Directors. They are responsible to oversee and monitor the compliance of this policy.
The Elevate Team members oversee the day-to-day implementation and operations of this policy. The investment team is responsible for assessing the ESG compliance and risk in relation to ESG factors prior to an investment.
When deemed necessary by the Board of directors of Elevate, an external ESG Officer will be appointed to assess compliance of ESG practices and guidelines. The investment committee may also appoint an external ESG Officer when deemed necessary.
ESG Management Process
Overview: ESG throughout the investment cycle
Elevate undertakes the responsibility to oversee ESG matters throughout the investment cycle, from initial deal sourcing until divestment.
Initial Deal Sourcing and Screening
The ESG Policy criteria and evaluation is commenced at the deal sourcing stage, where the Elevate will screen companies for ESG factors and assess if they fall in line within the ESG policy guidelines.
At this stage the factors directly considered are violations to the exclusion list, conscious disregard to ESG factors that may cause direct harm to environment, social or governance and identifying key ESG risks and opportunities.
Initial evaluation and ESG Risk categorization
Upon initial evaluation, Elevate, will categorize the investments into three main categories.
- Category 1- This category outlines organizations with significant irreversible harm to ESG. These companies are deemed not investable.
- Category 2- This category outlines organization with minor or reversible harm to ESG. These companies are deemed investable with mitigation and action plan.
- Category 3- This category outlines organization with minimal or zero harm to ESG. These companies are deemed directly investable.
The term sheet of each investment proposal mentions a reference to the ESG policy of Elevate and the fact that an ESG due diligence will be conducted.
ESG Due Diligence
Elevate will either:
- Subcontract an independent consulting firm that will conduct an ESG due diligence prior to investment
- Appoint the correct internal personnel to conduct ESG due diligence prior to investment
In either case this report will be presented to either the IC or the ACRES board.
In the cases where ESG risks are identified, then an external expert will be brought in to analyze and de-brief the investment team on a possible action plan to modify or amend the given risks.
Once considered, Elevate either:
- Deems the risks unacceptable and forgoes the investment opportunity
- Determines that the risk is acceptable with the action plan presented by the external expert, and proceeds to the next phase of the investment cycle.
- Deems there is no risk and proceeds to the next phase of the investment cycle.
Key documents that Elevate utilizes throughout the ESG pathway:
- ESG due diligence for portfolio company before investment
- ESG principles mentioned in the Shareholder’s agreements
- ESG reporting (if any) by portfolio company
- Elevate Code of Responsible Investing
- Elevate ESG Annual Reporting
Investment Monitoring and Management
Elevate commits to providing its portfolio companies:
- To review their ESG policies or assist in drafting them
- To regularly monitor and assist in ESG considerations
- To identify KPIs for each portfolio company that will allow them to measure and manage their progress.
- To support in the implementation of ESG practices
Investment Management ESG monitoring
Investment ESG reporting
Elevate commits to producing reports to its ACRES Board, Investment Committees and its Board relating to its investment activities and to the evolutions achieved towards implementing its ESG policy and criteria.
Periodic Reporting to the Investment Committee, ACRES Board, and Elevate Board
Elevate will produce an annual report on each of its investments to monitor the evolution of the ESG performance within its investments.
Periodic Reporting to the investors
Elevate will communicate the ESG annual investment Report to its investors to confirm that the Fund is ESG compliant and the relevant ESG policy in place is being respected.
Effective date and review
This ESG Policy is updated as of 11th of October 2022 and will be reviewed annually.
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