Fengate is a North American investment manager with over $10 billion in capital commitments and $35 billion in asset value across infrastructure, private equity, and real estate.

With more than 50 institutional investors and offices in Canada and the US, Fengate is recognised for building long-term value.

As climate change accelerates across North America, the firm has strengthened its ESG approach, not only to meet disclosure standards, but also to protect asset performance and support the communities and clients who depend on it.

Challenge

ESG has always been part of Fengate’s identity. But understanding and managing physical climate risk across a complex portfolio requires more than good intent.  

It demands consistent, location-specific insight that can support both fiduciary duty and long-term resilience.

To address this, Fengate needed to:

• Understand how climate hazards could impact asset performance over time
• Access high-quality localised data to inform decisions
• Align with standards like TCFD without excessive reliance on third parties

Fengate needed a way to assess physical climate exposure across a complex, growing portfolio and to do it in-house, with precision and repeatability.

Solution

In 2023, Fengate adopted EarthScan to run its first in-depth physical climate risk assessment across most of its infrastructure and real estate portfolio.

Using EarthScan, Fengate:

• Mapped exposure to heat, flooding, and extreme precipitation at the asset level
• Extracted granular climate forecasts (such as maximum temperature and rainfall intensity) across 5-, 10-, 20- and 50-year time horizons
• Combined this data with internal knowledge to assess asset vulnerability
• Shared findings with portfolio companies and technical teams to support climate adaptation planning

These insights fed into ESG disclosures, helped close data gaps, and strengthened conversations across the portfolio, from due diligence through to operational planning.

Results

By embedding EarthScan into its investment workflows, Fengate is now better equipped to:

• Identify and prioritise material risks over multiple time horizons
• Run more informed, data-led discussions with stakeholders
• Stress test key assumptions using a range of climate scenarios
• Report against frameworks like TCFD with greater confidence  

“Thanks to EarthScan, we have forecasted data for risk metrics over 5, 10, 20, 50 years, which helps us enhance our ability to stress test our assumptions for very granular assets, pinpoints and locations. For example, we not only look at whether a site has flooded in the past, but we can also look at whether it is exposed to potential flooding in the future.”
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— Della Wang, ESG Director, Fengate Asset Management

Fengate’s approach reflects a broader shift in the industry: climate resilience isn’t just a compliance issue, it’s a strategic one.

What’s next?

As long-term investors with a responsibility to communities and clients, Fengate is using science-backed insights to future-proof its assets beyond the holding period.

If you're working to embed climate risk into your own investment strategy, EarthScan can help you do it with clarity and scale. Book a demo to see how.  

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