Financial Strategy - The company plans to raise additional equity capital and utilize fixed and floating rate borrowings, including short-term commercial paper and public/private debt issuances[48]. - The company aims to maintain a financial leverage ratio of debt to equity at or below 2.5 to 1, with a target range for fixed rate debt to total debt between 75% and 100%[49]. - The company utilizes securitization trusts to transfer transaction economics to institutional investors, maintaining high availability of securitization counterparties[50]. - The company has issued CarbonCount Green Commercial Paper Notes, achieving better borrowing rates through favorable CarbonCount scores[77]. - The company faces increased competition due to low yields in alternative investments and growing acceptance of climate solutions[82]. Sustainability Commitment - The company is committed to achieving net-zero carbon emissions by 2050, with established targets under the Science Based Targets Initiative[66]. - The company emphasizes employee engagement in sustainability, with regular meetings led by the CEO to reinforce its mission and gather feedback[54]. - The company quantifies the environmental impact of transactions using CarbonCount, with metrics available in the financial results section[76]. - The company continues to implement TCFD recommendations and expects to fully align with PCAF reporting by 2023[77]. - The company is a signatory to the United Nations Global Compact, focusing on responsible business practices related to human rights, labor, and the environment[67]. - The company is committed to transparent ESG reporting, which it believes enhances understanding of financial results[76]. Governance and Ethics - The company has adopted a Code of Business Conduct and Ethics policy to ensure high standards of ethics and conduct in all business relationships[72]. - The company has a governance structure that allows stockholders to amend bylaws with a majority vote[78]. - The company has exempted certain transactions from business combinations statute, requiring board approval[78]. - The company has no stockholder rights plan in place, indicating a straightforward governance approach[78]. Workforce and Leadership - As of December 31, 2021, the company employed 99 people and intends to hire additional business professionals to assist in implementing its business strategy[62]. - The company provides competitive benefits, including covering substantially all healthcare costs for employees, and supports community and charitable activities[58]. - The company has a diverse board, with 33% of directors being women and 11% being persons of color, in line with its board diversity policy[71]. - Jeffrey A. Lipson has served as COO since 2021 and CFO since 2019, bringing extensive experience from Congressional Bancshares and Bank of America[84]. - Susan D. Nickey has been the Chief Client Officer since January 2021, focusing on business development and client relationships[85]. - Nathaniel J. Rose has been a co-CIO since 2021, involved in the majority of the company's transactions since 2000[87]. - Daniel K. McMahon has played a role in analyzing and managing several billion dollars of transactions since joining the company in 2000[88]. - Richard R. Santoroski, co-head of portfolio management since October 2021, integrates analytics across investment and risk-related decisions[90]. - Katherine McGregor Dent has been the Chief Human Resources Officer since April 2020, focusing on culture and organizational development[91]. - Charles W. Melko has served as Chief Accounting Officer since 2017, responsible for accounting and financial reporting functions[92].
Hannon Armstrong Sustainable Infrastructure Capital(HASI) - 2021 Q4 - Annual Report