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Sustainability Report | 2020 Catalyzing a Better Future INTRODUCTION CORPORATE SUSTAINABILITY RESPONSIBLE INVESTMENT FURTHER INFORMATION PageAbout Us OUR SUSTAINABILITY THE ISSUES THAT Title ABOUT US 2020 HIGHLIGHTS CEO LETTER AMBITION MATTER MOST TABLE OF CONTENTS Ares is a leading global alternative investment manager with $197 billion1 in assets INTRODUCTION RESPONSIBLE under management across our integrated groups: Credit, Private Equity, Real Estate INVESTMENT 1 About Us and Strategic Initiatives. How we scale our impact through the 2 2020 Highlights companies and assets we invest in. Our investment groups collaborate to seek to deliver innovative investment solutions designed to achieve 3 CEO Letter 16 Responsible Investment attractive investment returns for investors across market cycles. 4 Our Sustainability Ambition 18 Credit Group We believe our global footprint throughout North America, Europe, Asia Pacific and the Middle East is a key 5 The Issues That Matter Most 19 Direct Lending advantage in providing us with deep knowledge and extensive networks and resources in the markets we invest in. CORPORATE 21 Private Equity Group SUSTAINABILITY 22 Corporate Private Equity How we strive to lead by example 24 Real Estate Group through our own sustainable 25 Real Estate Equity business practices. 7 Corporate Sustainability FURTHER ES OF CA ENT OF 8 Supporting & Developing Talent INFORMATION RC PIT YM CAP OU A LO IT S L EP A 26 Conclusion & Looking Forward D L 9 Diversity, Equity & Inclusion 10 Philanthropy 27 Disclosures 11 Climate Change 47 End Notes ENT GEM COR 12 Governance, Compliance & Ethics NA P A OR M A 13 Cybersecurity S T We source capital from E IO We are invested in 2,800+ R N 14 Business Continuity a variety of investors A portfolio companies including 1,090+ direct institutional relationships We have 1,450+ employees collaborating across 25+ offices2 ABOUT THIS REPORT Our dedication to sustainability within our organization and investment practices spans nearly a decade. This inaugural sustainability report reflects our deepened commitment to ongoing measurement and transparency in line with our focus on our key Environmental, Social and Governance (“ESG”) issues. Throughout the report, we align with leading industry reporting standards set by the Sustainability Accounting Standards Board (“SASB”), Global Reporting Index (“GRI”) and Task Force on Climate-Related Financial Disclosures (“TCFD”) to ensure thorough and consistent disclosure. 1 INTRODUCTION CORPORATE SUSTAINABILITY RESPONSIBLE INVESTMENT FURTHER INFORMATION 2020 OUR SUSTAINABILITY THE ISSUES THAT Highlights ABOUT US 2020 HIGHLIGHTS CEO LETTER AMBITION MATTER MOST Firmwide Strategic APRIL 2020 MAY 2020 DECEMBER 2020 Developments Adam Heltzer joined as our Defined roles and responsibilities for Secured Indhira Arrington and Michelle Armstrong for our Global Chief Diversity, Equity Global Head of ESG with an board and executive-level oversight & Inclusion (“DEI”) Officer and Global Head of Philanthropy roles, respectively, who both expanded firmwide mandate and of ESG program. started in 2021. We also broadened the size and scope of our DEI Council. direct reporting line to our CEO Paved the way for our first platform-wide climate change disclosure by assessing and President. existing climate-oriented efforts against TCFD best practice. Corporate Sustainability Achievements Responsible Investment Achievements TALENT DIVERSITY, EQUITY & INCLUSION RESPONSIBLE INVESTMENT POLICY DIRECT LENDING OCTOBER 2020 Hosted 80+ virtual events across six MAY 2020 AUGUST 2020 employee resource groups (“ERGs”) and Enhanced our Responsible Investment Launched a refreshed ESG Certified by Great Place to a series of discussions on social justice Policy to create a clearer shared vision integration process to ~210 issues with senior leadership with average Work® with 91% of U.S. for ESG and decentralized ESG efforts investment professionals in team members saying Ares participation of 60+ employees. through the appointment of ESG the U.S. and Europe through is a great place to work. Champions to create a more holistic team-wide teach-ins. 91% firmwide approach. CORPORATE PHILANTHROPY CLIMATE CHANGE REAL ESTATE CORPORATE PRIVATE EQUITY Refreshed our approach to giving activities to ensure it is For the first time, calculated SEPTEMBER 2020 DECEMBER 2020 strategically aligned with our investment and business our carbon footprint and Convened a special operations, culminating in the upcoming launch of the achieved carbon neutrality ESG Volunteers session with portfolio Ares Charitable Foundation. across Scope 1, Scope 2 ~ Champions + company CEOs3 to share and select Scope 3 (from 20 40 a new standard for ESG business travel) emissions by Mobilized ~20 ESG Champions from 40+ volunteers engagements, including Ares and our senior professionals purchasing renewable energy to formalize an enhanced ESG integration process. investments to help donated over $5.8 million to hospitals credits and carbon offsets. Narrowed priority issues to energy use, carbon companies drive impact and organizations focused on COVID-19 emissions and the well-being of our tenant base on key topics like DEI and relief in the communities surrounding and communities. Employee Health & Safety. our major operations. 2 INTRODUCTION CORPORATE SUSTAINABILITY RESPONSIBLE INVESTMENT FURTHER INFORMATION PageCEO OUR SUSTAINABILITY THE ISSUES THAT LetterTitle ABOUT US 2020 HIGHLIGHTS CEO LETTER AMBITION MATTER MOST a global pandemic, increasing health and economic inequality, social justice issues Since our founding, we have endeavored to be a catalyst and a continuing climate crisis, a renewed To become a living, breathing part of how we do business, sense of commitment and urgency informed our ESG vision is rooted in our defining statements: for positive societal change. our thinking and approach. We hired our first platform-wide Global Head of ESG, We believe we can do well while doing good; that we can help shape and Adam Heltzer, to help us reimagine what is PURPOSE VISION MISSION share in a better future. This is reflected in the way that we manage the possible and to create a holistic program We are a catalyst for We seek to lead our industry We invest to help firm and the way that we invest. that could activate the entire Ares employee shared prosperity and in generating attractive businesses flourish and base in this shared enterprise. This inaugural a better future. returns and making a lasting create enduring value for annual sustainability report shares the key positive impact. all of our stakeholders. developments in this pivotal year, reflects our Our purpose, vision, mission and values human capital, responsible investment, DEI, deep commitment and accountability, and sets drive our passion for, and approach to, corporate governance, compliance & ethics, an ambitious agenda for the years ahead. sustainability. Collaborative, responsible, and cybersecurity. We believe as a leading We are thrilled to take this journey with you. entrepreneurial, self-aware, trustworthy: our global alternative investment manager, we are VALUES We strive to be a catalyst for shared prosperity core values guide us. They shape how we fulfill distinctly positioned to amplify our impact While our backgrounds are diverse, we are unified and guided in and a better future for all of our stakeholders — our role in the economy and society at large, through the everyday work of investing — everything we do by our shared values. At Ares, we are: from our employees to our shareholders, from the impact we can have in our communities, we seek to bring best practices, thought our investors to our portfolio companies, and and the kind of partner we wish to be to our leadership and innovation to our growing from our vendors to our local communities. people, clients and investment networks. We global portfolio of 2,800+ companies. ABORA This report is a declaration of this commitment OLL TIVE ask every Ares employee to embrace our vision C 2020 was an inflection point and a year of and a view to the path ahead. We look forward and to be a catalyst for progress in their corner accelerated change for our ESG program. to walking it with you in the coming years. of the platform and in their local community. Notwithstanding our long-term commitment WE ACHIEVE Only when everyone plays their part can we Y R MORE TOGETHER E to sustainability, something palpably H S have the biggest possible impact on the most T P changed in 2020. Against the backdrop of R critical ESG issues: promoting a more inclusive, O O N equitable and diverse society, arresting the W S T WE ARE WE STRIVE TO most harmful effects of climate change, and I S B DEDICATED BE A FORCE L helping companies understand the value of U E R STEWARDS FOR GOOD adopting sustainable practices. “ Something palpably changed in 2020. Against T the backdrop of a global pandemic, increasing Our intense focus on sustainability reflects health and economic inequality, social justice our conviction that it is a business-critical issue. We believe the strongest, most resilient issues and a continuing climate crisis, a companies understand and proactively renewed sense of commitment and urgency WE REFLECT WE INNOVATE AND EVOLVE AND BUILD L manage their key ESG issues. Any business that informed our thinking and approach.” A S I E R wants to thrive in the long run must integrate L U F E sustainability into its business practices. Ares - A N W E is no exception. We have demonstrated this A P R Michael Arougheti R E R E conviction by formalizing and accelerating Co-Founder, E N T our own corporate sustainability program; CEO and President providing for measurable year-on-year progress in material ESG issues such as 3 INTRODUCTION CORPORATE SUSTAINABILITY RESPONSIBLE INVESTMENT FURTHER INFORMATION Our Sustainability OUR SUSTAINABILITY THE ISSUES THAT Ambition ABOUT US 2020 HIGHLIGHTS CEO LETTER AMBITION MATTER MOST By understanding and acting on our numerous levers of influence, we aim Building on our core values, we to capture the full potential of sustainability and deliver an impact equal are weaving sustainability further into to our global platform.
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