Frequently Asked Questions

Q:  Does Ecofin manage accounts with exclusions based on requests?

A:  Ecofin is a client-first organization that welcomes the opportunity to work with our clients to achieve desired investment, ESG, and engagement outcomes.  As such we have a long history of working with our clients to design portfolios, investment criteria, and engagement strategies consistent with the client’s broad strategy. 

Q:  Does Ecofin collaborate with clients on engagement strategies?

A:  We are willing to and have collaborated with clients on specific ESG related engagements and issues, both broadly and specifically as relates to individual corporate engagements.

Q:  Is Ecofin a supporter of Task Force on Climate-Related Financial Disclosure?

A:  Ecofin is a public supporter of Task Force on Climate-Related Financial Disclosure (TCFD). We monitor climate related disclosures from our investments and push for more transparency where current disclosures are lacking.

Q:  Is Ecofin a supporter of the Carbon Disclosure Project?

A:  We support the Carbon Disclosure Project (CDP) Non-Disclosure Campaign which actively engages companies that have received the CDP disclosure request on behalf of investors but have not provided a response. The objective of the campaign is to drive further corporate transparency around climate change, deforestation and water security, by encouraging companies to respond to CDP’s disclosure request.

Q:  What affiliations with organizations that promote or support responsible investing or ESG is Ecofin part of?

A:  Ecofin recently joined the Ceres Foundation’s Investor Network (Ceres), which is designed for organizations focused on sustainability and climate action to work together to share best practices and research.  From our Ceres affiliation, we were able to join the Net Zero Asset Managers Initiative which is a group of global investment managers who have pledged to support the goal of net zero emissions by 2050.

TortoiseEcofin signed the UN Principals of Responsible Investing (PRI) in 2019 and has completed its first mandatory annual report.

TortoiseEcofin has written its stewardship policies statements to be in-line with the ICGN Global Stewardship Principles, which is an internationally recognized framework for investors to implement their fiduciary obligations on behalf of clients and beneficiaries.

In 2021, we intend to join the Global Impact Investors Network (GIIN) as well as join and adopt the Standards Board for Alternative Investments (SBAI) reporting guidelines.

Q:  Is Ecofin a member of the UN PRI?

A:  TortoiseEcofin is a signatory to the United Nations Principles for Responsible Investment (UNPRI), the leading global network for financial industry participants and investors who are committed to integrating ESG considerations into their investment practices and ownership policies.

We became a signatory in February 2019. Our first mandatory reporting period begins January 2021 and we expect to receive scores from the PRI during Q3 2021.



Q:  Does Ecofin use ESG data vendors?

A:  While the team relies heavily on proprietary research prepared in-house, the team does utilize some data provided by third parties and a wide array of sell-side research analysts primarily to compare expectations as well as to get timely news.

Q:  How does Ecofin define material ESG issues?

A:  The identification of material ESG factors and the integration of their use in the investment process has organically evolved from the team’s extensive experience managing thematic strategies around the energy transition. Given the breadth of the investment universe the ESG considerations can vary between companies depending on their business model and markets in which they operate.

Q:  Does Ecofin publicly disclose your voting records?

A:  Information on proxy voting for our registered investment company clients is publicly available via Form N-PX filings with the SEC. We are working with the investment team and the firm’s Sustainability and Impact Committee to create a more systematic process around reporting to investors on proxy voting and engagement activities. Should a client require more immediate reporting, we would be happy to provide additional information upon request.

Teams and Committees

Q:  Does Ecofin have an impact team?

A:  Ecofin has a dedicated ESG team referred to as the Sustainability & Impact team. Greg Murphy serves as the firm’s Head of Impact, and he is supported by two associates. In this role, the team works across the firm, including closely with all of the portfolio teams, to identify data and reporting gaps, areas for on-going training, and to assist with the implementation of the S&I Policy.

Q:  What is the Ecofin Sustainability and Impact Committee?

A:  The S&I Committee is responsible for reviewing and maintaining our Sustainability and Impact Policy. The Committee which was established to develop and promote an overall framework and consistent approach for integrating sustainability and impact factors, including ESG factors, into our investment processes, measurement and reporting, product development, employee training, and client engagement. 

Investment Practices

Q:  How does Ecofin look at Responsible Investing?

A:  Our investment proposition to investors is borne from the belief that societies need to accelerate the transformation to a greener, decarbonized and more sustainable economy. We also believe addressing climate change along with pollution reduction, resource scarcity, waste management and eco-diversity has and will continue to deliver compelling risk-adjusted investment opportunities.

Q:  How does Ecofin integrate ESG?

A:  ESG is key to our investment strategies. For more than a decade, the analysis of Environmental, Social and Governance (ESG) factors has been an integral part of our investment analysis and decision-making process. In 2009, we were awarded the first environmental mandate from the largest sovereign wealth fund in Europe, helping us further integrate ESG, but also building our understanding of sustainability as a source of durable wealth creation and organizing our engagement to deliver impact as a key commitment to our investors.

Q:  How does Ecofin view ownership?

A:  Active ownership is fundamental to the investment philosophy and process and is a key part of the sustainable proposition delivered to investors.  Active ownership can take various forms such as engagement and proxy voting. Our overall ESG philosophy is to promote better ESG practices and seek positive change on many levels, fostering long-term value creation for our investors.

Q:  Does Ecofin report its experience with ESG?

A:  Ecofin provides a Sustainability report. The report includes an ESG risk analysis for each position, assesses each company's exposure to environmental themes, and quantifies the impact of the strategy using independently verified data.

Q:  How is ESG incorporated into the investment analysis?

A:   At the core of the TortoiseEcofin investment process is the understanding and mitigation of environmental, social and governance risks in order to provide better risk-adjusted returns to investors. It is also becoming more evident through formal academic studies that better ESG profiles tend to deliver better absolute performance, thus underscoring the importance of ESG from both a risk management and value creation perspective.

Q:  How does Ecofin use proxy voting?

A:  Given the thematic nature of our investment strategies, the proxy voting policies may vary depending upon the respective strategy, but with the overarching commitment to voting in favor of positive change for sustainability and environmental, human rights, and diversity initiatives.

Q:  How does Ecofin approach voting environmental and social shareholder proposals?

A:  The team votes on each resolution for every company’s general meeting or proxy and votes in the best interest of shareholders, irrespective of the company’s recommendation. This is especially true for any item that could impact ESG considerations in a negative way, such as matters that could affect corporate governance and climate change, reduce the protection of minority holders’ interests, or lead to management compensation being misaligned with the interests of shareholders. Progress is then tracked against our objectives. In exceptional instances we write to a company’s board to express our views, perhaps in concert with other like-minded shareholders.

Q:  Does Ecofin currently engage with corporations?

A:  Yes, we actively engage with portfolio companies to drive continuous business improvement in their ESG & sustainability practices and metrics. This includes direct dialogue with senior leadership, active proxy voting and coordination with other owners.