Environmental, Social and Governance

Managing environmental and social risk

Environmental and social risk 

We are committed to ensuring environmental and social risks are identified and managed responsibly in our business activities and relationships. Our group-wide Environmental and Social Risk (ESR) Policy is guided by international guidelines including the International Finance Corporation Performance Standards.

The ESR Policy governs the management of environmental and social issues including labour and employment practices, human rights, resource efficiency, climate risk, pollution prevention, biodiversity and cultural heritage. Our policy provides a process to assess, categorise, manage, mitigate, monitor and report ES risks in client relationships and across a range of transactions including financing, lending, leasing and advisory. It requires escalated decision-making and approval processes for material environmental and social risks.

As stated in the Code of conduct, all staff share responsibility for identifying and managing environmental and social risks as part of normal business practice. The ESR team, which sits within the Risk Management Group, has Group-wide oversight responsibility.

Modern slavery

Work health and safety 

Health and safety in our investments

Macquarie acknowledges that Work Health and Safety (WHS) risks are inherent in our investments and recognises, supports, and promotes the right of every worker to return home safely from their workplace as set out in our WHS Policy.

Macquarie’s WHS vision, “Safe workplaces which enable and empower people to do their best work”, is designed in connection with Our Purpose to empower people to invest and innovate for a better future. Our strong culture of leadership, governance and assurance is integral in how we bring this vision to life.

Macquarie has integrated WHS into the investment lifecycle from due diligence prior to investment through to divestment. We believe there is a strong correlation between actively managing WHS risk and improving investment returns.

Our approach acknowledges that it is the responsibility of the management teams within each of our investments to manage WHS risks and Macquarie plays a key role to support the management teams in achieving the WHS objectives for the business.

Due diligence

Prior to making an investment, we seek to identify material WHS risks relevant to the investment. If required, we will perform detailed due diligence which is supported by our internal subject matter experts and/or external advisors.

The due diligence results inform the transition plan for the investment. Prior to making the investment, the due diligence results and transition plan are presented for consideration and approval to the applicable investment committee(s). 


During the 1st year of investment, we focus on closing out the action items in the transition plan and assure a strong WHS governance set-up is in place at the investment including (but not limited) WHS reporting and regular WHS assurance.

Investment Management

In our investments, we aim to reduce WHS risk and improve performance, increasing the value of the company or project. Macquarie Operating Groups have tailored Safety Alignment Frameworks to drive consistent WHS principles and expectations for portfolio companies.

WHS is the responsibility of management within each portfolio company. The portfolio company board oversees the management of WHS, with Macquarie Nominee Directors receiving regular training on WHS governance. Portfolio companies regularly monitor and report on WHS performance and risk management to Macquarie, including outcomes of incident investigations where there was a fatality or serious injury, or the potential for a fatality or serious injury.


WHS remains a continual focus during divestment, including through the preparation and disclosure of information on WHS performance and management. 

To learn more about our WHS approach, view the case studies below1.

To find out more about what we have done over the last year, refer to the Macquarie Group ESG Report.

  1. Case studies are accurate as at 31 March 2024