Responsible Investment

At First Reserve, particularly as energy-focused investors, we view our commitment to our workforce, our environment, and our communities as not just a responsibility, but truly an essential aspect of our investment approach. Just as importantly, it is also a core element of our firm culture – driven by senior leadership and executed throughout our organization daily.” — Alex Krueger, President & CEO, First Reserve

Commitment to Responsible Investing

• Signatory of the United Nations-backed Principles for Responsible Investing (“PRI”) since 2009, the year it was introduced
• Responsible Investment Policy in place since 2009
• Member of two PRI Working Groups: one establishing the inaugural handbook to guide other GPs in incorporating PRI into their investment process and one suggesting guidelines for LP/GP monitoring and reporting on ESG considerations
• Responsible Investment Mission Statement adopted in 2018 with the heads of every department joining the Investment Team Managing Directors and Directors as signatories
• Formalized LP reporting standards on ESG-related items
• Multi-departmental internal ESG Working Group typically meets quarterly to discuss corporate responsibility initiatives, ESG-related policies, and best practices
• Focus on seven key ESG areas: Environment, Safety, Compliance / Governance, Cybersecurity, Diversity & Inclusion, Job Growth, Community Involvement

Ongoing ESG Focus

Integrated ESG Approach

First Reserve takes a “full-firm, full-cycle” approach in an effort to ensure our ongoing integration of ESG initiatives and considerations is both cultural and structural.

Responsible Investment Stewardship

First Reserve strives to partner with management teams who share our passion for investing responsibly. At the corporate level, we also aim to lead by example, with FR employees receiving robust annual ESG-related training and a culture of ongoing engagement with our portfolio and our industry.

In 2019, First Reserve also became a partner of Children’s Environmental Literacy Foundation (“CELF”), which is an organization focused on establishing sustainability as an integral part of every child’s K-12 education. The organization has established a footprint in the Northeast, and First Reserve is working with them to establish a presence in the Gulf Coast. Alex Krueger maintains a seat on the Board of Directors of CELF. For more information on CELF please click the their logo above.

Further, First Reserve is proud to be a “Partner in Diversity” of the Toigo Foundation, which works to foster the career advancement and increased leadership of underrepresented talent in Finance and allied industries and to create mechanisms for greater diversity and inclusion from the classroom to the boardroom. For more information on the Toigo Foundation please click their logo above.

In addition, First Reserve’s employees in each of our offices have participated in Days of Service or community outreach programs with Habitat for Humanity and Houston Food Bank as a group.