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Virtual Conference Week
Recordings and key takeaways

Media Partners

Infrastructure Allocation Panel

Key takeaways from the discussion:

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  • Investment in listed infrastructure will continue to grow over the next decade, because: ​

    • The listed market offers great scale and its options complement private infrastructure - think railroads, global utilities, etc;
    • The right definition of infrastructure will provide stable cash flows and lower volatility;

    • The dominant position of global utilities means they will play a central role in the energy transition; 

    • Public scrutiny, means listed companies offer strong ESG practices - on average;

    • Listed companies are strongly placed on thematics such as 5G roll-out and data usage;

    • Listed companies offer the liquidity to access, exit and adjust allocations efficiently;

    • There is a gap between public and private company valuations, presenting attractive investment opportunities especially in public companies – this valuation gap is expected to narrow over time.

    • and, fee efficiency of returns is strong on the listed side.

ESG in Infrastructure Panel

Key takeaways from the discussion:

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  • Net Zero and the pathway to getting there is front and center of mind for infrastructure investors;

  • Without infrastructure investment, net zero is just a tag-line as the 3 largest producers of carbon emissions are the power generation, transportation and industrial sectors;​

  • Listed infrastructure companies are playing a large role building out the assets for the backbone of a net zero economy, for example:

    • Utilities are both accelerating renewable development and, upgrading/expanding transmission and distribution networks to bring clean energy to demand centers (IEA estimate investment must hit $4trn per annum by 2030 which is x3 current spend);

    • Toll-road operators and airport operators are looking for ways to help their customers decarbonise for example by investing in EV infrastructure;

  • Considering Scope 1 and 2 carbon metrics in isolation will not achieve Net Zero.  Investors should consider sustainability more holistically including the long term sustainability of each business model

  • Much of future financing for infrastructure will originate from the private side and the listed market will play a large role;​

  • Active and direct engagement with the companies is key to drive change;

  • but, gaps remain between rhetoric and action.

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