Aggregation Methodology

SFDR is a regulation that applies to financial market participants who will have to disclose the aggregate environmental and social impact of their underlying investments.

In the case of infrastructure, this means that the tangible impacts have to be reported by infrastructure assets meaning they will be responsible in large majority for reporting and sharing this data with their investors. The role of financial market participants subject to the regulation on our platform will therefore be for them to encourage participation of the underlying asset investments in our SFDR solution and to then connect to these assets in our portal with the necessary financial information to obtain an aggregate impact report.

The aggregation of data follows the calculation methods provided in Annex 1 of the Regulatory Technical Standards pertaining to the PAIs principal adverse impact statements.

Aggregation is completed by an automatic system.

GRESB’s aggregation methodology will only be applicable at a fund level report, although fund of funds and financial market participants (FMPs) could theoretically connect to any of their underlying asset investments reporting on our platform. Like any methodology, where data gaps exist or coverage is limited, data download should help participants who wish to undertake the aggregation themselves.

Aggregation at the fund level is dependent on the following:

• That any underlying asset accepts a connection request from a fund

• That the underlying asset completes the assessment and submits their data

Asset level information is aggregated only for those assets that were submitted prior to the connected fund.

Once all assets of the fund have been connected and submitted, the fund is in-turn encouraged to submit.