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HydrogenOne is an Article 9 fund

HydrogenOne Capital Growth (HGEN) has announced that it is now classified as an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR) and EU Taxonomy Regulation (EU Taxonomy). The Article 9 classification means that HGEN has a sustainable investment objective and will be reporting greenhouse gas emissions and avoided greenhouse gas emissions on an annual basis in its annual financial reports. HGEN says that the economic activity of each of its private investments has been mapped to the EU Taxonomy and assessed against the relevant do no significant harm and minimum safeguards criteria. HGEN says that its private portfolio is 75% aligned with the EU Taxonomy and meets the following criteria:

  • Positively contributes to climate change mitigation, monitored through greenhouse gas emissions and avoided greenhouse gas emissions;
  • “Do No Significant Harm” to any of the environmental objectives in the EU Taxonomy and the Company’s sustainable investment objective. In making this assessment the material adverse indicators in Annex I of the Regulatory Technical Standards to the Sustainable Finance Disclosure Regulation have been assessed; and
  • Complies with minimum safeguards requirements, which reference the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.

HGEN says that some investments may be transitioning from other activities to focus on hydrogen which can result in some economic activity not being EU taxonomy-aligned. All non-aligned activity (i.e. 25% activities at investee companies that don’t align to the EU Taxonomy) has also been assessed and does no significant harm to the objectives of the EU Taxonomy and the sustainable investment objective. It is expected that the non-aligned activity of the current portfolio will reduce as a proportion of overall activity as the investees pursue the hydrogen business lines.

HGEN : HydrogenOne is an Article 9 fund

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