Axeleo Capital is proud to release its 2024 annual sustainability Report, marking the second consecutive year of publishing our ESG (Environmental, Social, and Governance) insights. This report highlights our vision, roadmap, and the performance of our portfolio, emphasizing our strategic commitment to sustainability.

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‍Key Achievements in 2023

In 2023, we published our inaugural ESG report and revamped our ESG webpage to better engage stakeholders. We hired an ESG specialist to refine our strategy and ensure comprehensive application across processes and investments. Additionally, we joined industry initiatives such as VentureESG and the France Invest Sustainability Commission, and three of our team members received Sustainable Finance certification from the French regulator (AMF).

Axeleo Capital is proud to release its 2024 annual sustainability Report, marking the second consecutive year of publishing our ESG (Environmental, Social, and Governance) insights. This report highlights our vision, roadmap, and the performance of our portfolio, emphasizing our strategic commitment to sustainability.

ESG Vision & Roadmap

Our ESG approach is not just about regulatory compliance; it is a strategic imperative that enhances the attractiveness and sustainability of our investments. Our priorities and actions for the environment include aiming for 50% of startups to conduct carbon footprint assessments and encouraging 50% of startups to implement at least one environmental initiative. We use tools like Sami and Apiday to support these efforts.

On the social front, we are targeting a 40% overall feminization rate and partnering with Have you met Simone to ensure gender-balanced candidate shortlists. We are also committed to mental health, aiming for 70% of startups to measure well-being and partnering with Moka.care to provide support.

In terms of governance, we aim for 70% of our portfolio boards to include at least one independent member. We are also implementing ESG-linked Employee Stock Ownership Plans (ESOPs) in partnership with the August Debouzy law firm to align employee incentives with sustainability goals.

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Portfolio Performance Insights

Regarding environmental performance, 15% of our portfolio companies have assessed their carbon footprint, and over 70% have taken steps to reduce it, with Mob-Energy and Sopht leading the way.

Concerning the social aspect, we continue to face challenges in achieving gender parity. While the employee composition rate is stable (28% in 2024 vs 27% in 2022), it remains below the market benchmark. Nonetheless, our C-level positions are closer to market trends, partly due to the maturity of the Axeleo Capital 1 portfolio and recent investments in PropTech 1.

Regarding founding teams, we now have 8 female founders, including 2 new investments in 2023: Pionix and Sitowie.

In terms of governance, our portfolio is performing well and demonstrates maturity in addressing these issues. Currently, 67% of our startups have at least one independent board member, and more than half have appointed an ESG leader. However, this figure should be interpreted with caution, as it includes all individuals identified internally on ESG topics, often on a volunteer basis.

Conclusion

As we publish our 2024 sustainability Report, we are excited to share our journey and achievements with you. Our commitment to ESG principles is a strategic imperative that enhances the attractiveness and sustainability of our investments. We invite further discussion and collaboration as we continue to drive positive change and strive for excellence in sustainability.

>>> Link to our Sustainability  annual report 2024