Page 24 - Admaius 2023 ESGI report

How we approach
ESG and impact
Our Commitments Ou r S t r a t e gy Our Portfolio www.admaius.com

Climate change

Over 2023 we made the following progress on
our climate strategy: Physical risks Transition risks Transition opportunities
(mainly relevant (mainly relevant (mainly relevant
under a 40 scenario) under a 20 scenario) under a 20 scenario)
TCFD disclosure:
Last year we drafted the Firm’s first ever TCFD disclosure, which Little to no physical Risks arise via the Funding / supporting
risks identified
portfolio varying
portfolio businesses in
we will continue to refine and expand over time. This disclosure materially via sector developing climate
concluded that for both Admaius and our initial two investments, resilience
transition opportunities outweighed transition risks, with early
mover advantages identified for companies in developing climate
resilience and disclosing against the TCFD ahead of regional peers. Physical risks mainly via Short-term costs of Innovative climate
See summary analysis on the right. data centre exposures meeting best practice, solutions (e.g. carbon
emissions measurement accounting, loans to
Emissions measurement 1st steps: support adaptation,
At the Firm level, we are in the process of calculating our scope 1 household solar)
and 2 operational footprint in order to have a baseline emissions
estimate. We will then look to extend this to the portfolio. Physical risk exposures Cost of compliance with Opportunity to develop

Interaction with our impact thesis: through fixed assets higher environmental a more circular business
and supply chain
model in North Africa
standards especially if
While Africa is expected to be disproportionately affected by vulnerabilities exporting including learning from
climate change, the unprecedented scale of change also presents EU peers
opportunities, including green job creation, greater energy
efficiency, reduced energy costs, climate product innovation
and the potential for stronger social inclusion. Given our impact
objectives, a “just climate transition” is particularly important for Despite the likely costs in reducing and managing
successful execution of our strategy, and we are interested in transition risks, (e.g., emissions measurement,
deepening our understanding of the intersection between the switching to renewables), there are potential rewards
required transition and SDGs 5 (gender equality) and 8 (decent for innovation and greater transparency, (e.g. through
work and economic growth). Sectors which are asset light with dynamic, mobile winning market share, reduced costs from adopting a
workforces face lower direct physical risks (e.g. Fintech) circular business model).
vs. sectors with complex supply chain dependencies, For all three entities , transition opportunities outweigh
manufacturing processes or fixed asset ownership, transition risks. This indicates there are still early mover
especially in a 4 degree scenario (e.g. FMCG). advantages for African companies in activating their
climate strategy ahead of peers.

Note: Our TCFD analysis was carried out in 2023 prior to the acquisition of Parkville in November 2023 hence it is not included above.

23 Admaius Capital Partners ESG & Impact Report 2023