Our responsibilities
Our primary focus is driving value growth for the businesses we partner with and our investors. However, we also place significant value on supporting the long term sustainability of that growth.
We have a dedicated ESG Working Group who meet regularly to oversee our policies and approaches, as well as promoting new initiatives. The Group is led by Andrew Honan, Managing Partner (Infrastructure) and Chair of Sustainable Investing, and includes our ESG Manager as well as representatives from across our business and international offices, ensuring a “one MML approach”. The Working Group reports directly to our Management Board.
Our ESG Impact Report 2023
We are pleased to share our second annual Impact Report, this time laying out how we have lived by our ESG commitments, supporting ESG progression across our portfolio, building the long-term sustainability of our portfolio growth and delivering value for our investors. We look forward to reporting on further progress in our 2024 Report.
Our ESG Impact Report 2022
We released our inaugural Impact Report for 2022, setting out our ESG commitments ranging from our approach to investing, through to holding ourselves to account in how we operate at MML. We have made a commitment to share annual Reports going forward.
Our investments
We have been a proud signatory of the UN Principles of Responsible Investment since 2019 and are committed to delivering attractive returns for our investors, in a responsible way.
We became a member of the ESG Data Convergence Initiative in 2023 to help support convergence around meaningful environmental, social, and governance metrics for the private equity industry. We are committed to aligning our ESG data with this important industry-led effort, and support the Initiative’s objective of generating useful, performance-based, comparable ESG data.
We incorporate ESG analysis as part of our rigorous due diligence process, identifying UN Sustainable Development Goals for each company, which can be monitored throughout our investment period. We ask tailored questions about each business and their ESG credentials, understanding how they operate and the impact they have, which allows us to identify potential risks and plan a route to improve or mitigate those risks during our investment horizon.
We are committed to the United Nations Principles for Responsible Investment
We exclude certain geographies, sectors and activities in line with the PRI
We conduct ESG due diligence as an integral part of our investment proposals
We monitor the ESG performance of our portfolio companies and report to our LPs
We help our portfolio companies to consider and enhance their ESG performance
We recognise that every investment will be at different stages in their ESG journey, and we work with them, encouraging a collegiate approach to sharing best practise and ideas across our portfolio teams.
The MML table – a place to share knowledge and build communities
“Allowing people to talk about best practices is essential to accomplishing what we need to as a society, as well as delivering growth for our investors.”
Andrew Honan, Managing Partner – Infrastructure, and Chair of Sustainable Investing
“All the MML companies having gone through this process will be in a phenomenal position, not only for serving their clients, but also for an eventual deal process, where around 60 different ESG areas have been reviewed.”
James Stander, Founder, Sustainable Advantage
100%
Carbon offset
570
Tonnes of carbon offset
MML’s environment
With climate change becoming ever more urgent, we are proud to be taking responsibility for the impact our operations are having. We have partnered with climate and sustainable development experts, Sustainable Advantage, to offset our annual carbon emissions and are committed to working on an ongoing carbon reduction and offset strategy.
MML has been recognised as a CarbonNeutral® company since 2021.
We calculate our carbon emissions in line with the Greenhouse Gas (GHG) Protocol corporate accounting and reporting standard. Carbon conversion factors are sourced from DEFRA and the EPA. All emissions are calculated in tCO2e and cover all GHGs required by the UNFCCC / Kyoto Protocol. This includes the material GHG emissions of our direct operations in undertaking our business activities.
MML’s diversity & inclusion
At MML, we try to see every angle, and especially like to find angles that others might not see! Which is why we value our diversity so much.
We aim to attract, retain, and promote the best talent from a variety of backgrounds and experiences. We regularly review our recruitment processes to ensure we are meeting a diverse range of candidates, without unconscious-bias. We also place emphasis on knowing our employees on a personal level, learning and understanding their personal situations and supporting their balance between work and home life.
34%
of MML’s employees are female
10%
of MML’s employees are BAME
Our community
A charitable ethos is deep routed in our culture, with many of our team pursuing philanthropic activities outside of work. We also look to supplement these contributions with annual MML Charity Days.
In 2023, our London office chose to support Little Village, helping families with babies and children under five living in poverty across London. A group of 20 MML team members spent the day at Little Village’s Hounslow warehouse, helping to manage donations to ensure the items are in a suitable condition to be gifted to families. By the end of the day, we had helped to sort hundreds of bags of donations, ready to be gifted to new homes.
We are delighted to join forces with some longstanding friends of MML to become a founding supporter and strategic partner of the Mountain Adventure Fund. Our aim is to help give every inner-city child the opportunity to be inspired and motivated by the rugged outdoors and the challenges mountain environments offer.
In 2023, we supported the pilot programme, seeing the Mountain Training Trust (Plas y Brenin) partner with the Mountain Adventure Fund to successfully enable over 50 disadvantaged children from two London schools to join two one-week outdoor activity courses.
In 2024, Mountain Adventure Fund is aiming to deliver this opportunity to up to 200 children across the country and we look forward to continuing our support.
