Our Environmental, Social and Governance (ESG) Report 2025 is structured around four key chapters that reflect both recent developments in the ESG landscape and our ongoing journey as a responsible investor. Each chapter addresses priority ESG topics and illustrates our approach using selected examples of managers, portfolio companies and firm-level initiatives. Throughout the report, these examples highlight measurable progress in climate action and impact investing across private and public market strategies, as well as our own Corporate Social Responsibility (CSR) initiatives.