Make a positive contribution.
Current Sustainability Report 2024
In the more than two decades of Afinum’s history, we have defined clear objectives and implemented corresponding measures both internally and at the level of our portfolio companies. These take into account the expectations of the above-mentioned stakeholders and ensure that we make a positive contribution on many levels.
For example, Afinum has signed the UN Principles for Responsible Investment (UN PRI), is committed to the United Nations Sustainable Development Goals and is already carbon neutral at the level of Afinum Management GmbH.
Contact Person
Anton BergmannTheatinerstraße 7
D-80333 München
Afinum supports the 17 Sustainable Development Goals of the United Nations. The UN initiative runs until 2030 and aims for global sustainable development in economic, social, and environmental terms.
Responsible in Every Way.
Afinum Management GmbH
Awareness of our responsibilities as a company doesn’t just happen. That’s why we regularly sensitise our employees through training sessions in which we communicate Afinum’s values. The focus is on environmental, social and governance issues. In these sessions, we also work together on how each employee and Afinum as a company can contribute to the UN Sustainable Development Goals.
Keyword: Climate Responsibility. Afinum is committed to minimizing the impact of its activities on the environment and nature. Our goal is to continuously reduce CO2 emissions. Therefore, we regularly review and optimize our internal policies, particularly regarding travel activities.
Afinum wants to be an attractive employer for people regardless of their background, gender or age. To ensure this, we have launched a team diversity initiative and offer flexible working models specifically for young parents.
After completing the onboarding training, every Afinum employee also confirms the Afinum Code of Conduct and commits to adhering to the compliance system. The principles outlined here serve as guidelines for our behavior and interaction both internally and externally.
Investment Process
Acting responsibly is also a top priority for Afinum in the investment process. This is based on Afinum’s Code of Conduct and ESG checklist, the UN Principles for Responsible Investment (UN PRI), as well as mandatory, detailed ESG due diligence with experienced partners.
In addition, investments in industries that are not in line with Afinum’s values are generally excluded. Otherwise, the mandatory detailed ESG due diligence during the investment process provides a clear picture of the company’s current situation. This assessment allows us to derive concrete goals, which we discuss with management alongside strategic and financial objectives. Ideally, management begins to implement the first derived measures within the first few months of the holding period.
Investments
All managing directors of an Afinum portfolio company sign the Afinum Code of Conduct at the beginning of the relationship. Stakeholders evaluate the results of the ESG due diligence and develop an action plan.
In order to sustainably reduce CO2 emissions, our portfolio companies use a mix of reduction and offsetting strategies. The aim is to position each portfolio company as a leader in its peer group in terms of climate friendliness.
As an integral part of their home region, many companies make an invaluable contribution by supporting education and training, as well as local institutions and sports facilities. Afinum welcomes and encourages this. In addition, the companies work with Afinum to develop measures that make them an even more attractive employer for employees of all backgrounds, genders and ages, thus promoting equality.
Afinum’s Code of Conduct sets clear limits. Violations of the principles of good corporate governance are systematically prevented.
Mandatory disclosures under Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability-related disclosure requirements in the financial services sector (“Disclosure Regulation”):
I. Transparency on Strategies for Managing Sustainability Risks (Article 3 of the Disclosure Regulation)
Afinum Management GmbH (the “Fund Manager”) is a long-term investor that recognises its responsibilities to investors, portfolio companies and stakeholders in the wider ecosystem in which it and its portfolio companies operate. The Fund Manager considers sustainability risks as an integral part of its risk management processes and addresses them through adherence to Afinum’s Code of Conduct and ESG Policy, the UN Principles for Responsible Investment (UN PRI), as well as through mandatory, detailed ESG due diligence with experienced partners.The fund manager maintains a strict exclusion list as part of the ESG policy. The exclusion list applies to all funds and prohibits investments in industries that are not considered to be ethically or sustainably acceptable (e.g. arms production and trade, gambling, or oil and gas extraction through fracking). Before an investment is made, potential risks are assessed with the ESG Officer and transaction team and discussed with the Investment Committee. If the fund manager identifies significant risks or issues during the ESG due diligence process, the transaction will not be pursued.
Article 4 of the Disclosure Regulation provides a framework aimed at ensuring transparency regarding the most significant adverse impacts of investment decisions on sustainability factors. To this end, financial market participants such as the Fund Manager are required to disclose certain information (in accordance with the implementing provisions of Delegated Regulation (EU) 2022/1288). Currently, the threshold criterion of 500 employees set out in Article 4 (3) of the Disclosure Regulation is not exceeded. As a result, the Fund Manager does not consider the negative impacts of investment decisions on sustainability factors at the company level. Additionally, the information provided by the portfolio companies regarding investments is currently only partially available. An acceptable data coverage for PAI disclosure cannot be ensured at this time. The Fund Manager will monitor developments regarding the available information and assess whether it will be appropriate to disclose the information required by Article 4 of the Disclosure Regulation in the future.
III. Transparency of Remuneration Policy in Relation to the Consideration of Sustainability Risks (Article 5 of the Disclosure Regulation)
Although Afinum considers sustainability risks as part of its investment decision-making process, such risks are not integrated in Afinum’s remuneration policies.
(Update as of November 6, 2023: Adjustments to Disclosure Requirements Articles 3 & 4)
(Update as of December 11, 2024: Adjustments to Disclosure Requirement Article 3)
(Update as of October 20, 2025: General Update)