The judges for this year's Sustainable Investment Awards commended Ginkgo Advisor for its detailed key performance indicators (KPIs) and the robust strategy of its third fund, Ginkgo Fund III.
The Ginkgo franchise, part of the Edmond de Rothschild Private Equity platform, launched its third fund, Ginkgo Fund III, two years ago with €367.5 million ($394.1 million) of capital commitments.
The vehicle has a range of environmental impact KPIs, including the reduction of soil artificialisation, biodiversity, waste recovery, depollution, and circular economy. With its third fund, Ginkgo introduced an impact carried mechanism, under which 30% of the carried interest is linked to the achieving four of these KPIs and their associated objectives.
To date, the fund is nearly fully allocated, following the acquisition of 13 brownfield sites across various European cities. It has over €72 million dedicated for remediation, as the fund manager works to redevelop sites in accordance with the relevant local authority's urban planning strategy.
Redevelopment is predominantly focused on preventing and controlling pollution associated with contaminated sites and improving the health of local communities by reducing exposure to harmful chemicals and poor air quality.
"We are delighted about the recognition of Ginkgo's strategy, which focuses on Sustainable Urban Regeneration since 2010," said Laura Nolier, ESG and impact director at Ginkgo Advisor, told Environmental Finance. "Our mission involves transforming brownfields and obsolete buildings into mixed-use neighbourhoods across Europe.
"By turning obsolescence into value, we tackle critical environmental challenges, such as urban sprawl and biodiversity loss, while delivering the quantity and quality of housing, offices and commercial premises needed in the most dynamic urban centres. We are particularly proud to see our ESG & impact approach acknowledged today."
