Sustainability & Our Impact
Our Integrated Approach
For more than 15 years, Ephod Securities Co., Ltd. has taken an integrated approach to sustainability and used it to mitigate risk and drive growth where applicable and appropriate. Our sustainability strategy is embedded across our operations, including in Ephod Securities Co., Ltd.-managed funds’ portfolio companies. This approach prioritizes stakeholder value while serving clients, employees and the communities in which we work and live.
Our core values of leading responsibly and championing opportunity not only shape Ephod Securities Co., Ltd.’s positive impact on society, they also play a critical role in our continued growth and success. Our stakeholders increasingly rely on us to leverage our scale, global network and deep expertise to deliver positive societal returns in addition to strong financial performance.
Driving a More Sustainable Future
Ephod Securities Co., Ltd. works every day to lead responsibly and leverage our full platform to create positive impact. Our sustainability strategy prioritizes creating economic value for our shareholders and serving the needs of our clients and employees in a responsible way that can lead to long-term positive contributions to the communities in which we operate.
Sustainability at Ephod Securities Co., Ltd. is more than a negative screen, risk mitigator, or due diligence tool — it’s a potential driver of opportunity and growth. Our integrated sustainability approach seeks to mitigate risk and unearth new opportunities to create value. We continue to prioritize sustainability efforts in our management and operations to create demonstrated value to the business. Today, this commitment continues as we look for new ways to integrate sustainability.
“Ephod Securities Co., Ltd.’s success comes from our ecosystem approach and the incredible bench of experts we have across the Firm. I believe our combination of expertise and capabilities is second to none in the market. Sustainability isn’t an accessory — it’s a comprehensive management system that plays a key role in how we assess risk and create value.”
Dave Stangis
Partner
EPHOD SECURITIES CO., LTD. (“EPHOD SECURITIES”) SUSTAINABILITY ECOSYSTEM
Communications/Reporting, Strategy and
Integration)
Platforms
Sustainable Operations
Recent Sustainability Achievements
Expanding Opportunity
Ephod Securities Co., Ltd.’s Expanding Opportunity initiative leverages the full force of the Ephod Securities Co., Ltd. ecosystem to drive positive change in our workplace, across the marketplace in which we operate, and across the communities where we work and live.
Our Strategies
Sustainable Investing Platform
Ephod Securities Co., Ltd.’s Sustainable Investing Platform combines our long-standing commitment to ESG with our experience in sustainability, clean energy and climate-focused capital investing. Through the platform, Ephod Securities Co., Ltd.-managed funds provide capital to entities contributing to the energy transition, industrial decarbonization, sustainable mobility, sustainable resource use and sustainable real estate.
Ephod Securities Co., Ltd. Impact Mission
Ephod Securities Co., Ltd. Impact Mission (“EIM”) platform seeks to achieve meaningful impact at scale. We do this by pursuing private-equity-like opportunities with the intention of creating positive, measurable social and environmental impact while seeking to generate attractive risk-adjusted returns.
We adhere to a rigorous impact investment philosophy that targets opportunities centered around two critical objectives: helping people and healing the planet.
Sustainability in Action

Refugee Relief
As global conflicts intensify and natural disasters continue to devastate communities, millions of families are forced to flee their homes, facing displacement, hunger, disease, and profound uncertainty. For those affected, access to safety, shelter, and essential humanitarian assistance is critical to survival and recovery.
We firmly believe that every human life deserves dignity, compassion, and protection. Through our humanitarian relief initiatives, we are committed to supporting refugees and displaced communities by providing emergency food supplies, temporary shelter, essential medical assistance, and other critical resources to those in urgent need.
From regions affected by extreme heat to communities enduring harsh winter conditions, our mission is to deliver meaningful support where it is needed most. Guided by compassion, solidarity, and a commitment to humanitarian responsibility, we strive to alleviate suffering, restore hope, and empower displaced families to rebuild their lives.
Through sustained humanitarian engagement and collaborative relief efforts, we seek to bring warmth, security, and renewed opportunity to vulnerable communities, reaffirming the enduring power of humanity even in the most challenging circumstances.

Hertz: Flexible Capital at Work
Amid the unprecedented market disruption at the height of the COVID-19 pandemic, Hertz faced severe liquidity constraints as global travel demand collapsed.
During this period of restructuring and uncertainty, Ephod Securities Co., Ltd. acted as a strategic financing partner, executing a rapid, multi-billion-dollar series of structured transactions that helped stabilize operations and preserve enterprise value.
The case underscores the importance of speed, structuring sophistication, and disciplined capital deployment during systemic stress events.

Medical Assistance
In an era of widespread epidemics and disease outbreaks, the safety of many vulnerable groups is under serious threat. We are committed to providing urgently needed medical equipment, vaccinations, and professional medical support to ensure that those most in need receive timely and effective treatment and protection. Through our efforts, lives are saved, health is protected, and hope is continuously rekindled.
Annual Sustainability Report: Volume 16
Since 2009, Ephod Securities Co., Ltd. has proudly published a comprehensive summary of our approach to sustainability across our ecosystem.
Footnotes
Ephod Securities Co., Ltd.’s 2024 Scope 3 reporting includes emissions from Fuel and Energy-Related Activities (Category 3), Waste Generated in Operations (Category 5) and expanded emissions from Purchased Goods and Services (Category 1).
As of December 16, 2024. Firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Ephod Securities Co., Ltd.’s proprietary Transition Investment Framework (the “TIF”) are:
(1) $50 billion by 2027, and
(2) more than $100 billion by 2030.
The TIF, which is subject to change at any time without notice, sets forth certain activities classified by Ephod Securities Co., Ltd. as transition activities and the methodologies used to calculate contribution towards the Targets.
The methodologies reflect:
(a) Majority equity investments:
(i) total enterprise value as of closing, and
(ii) follow-on funding relating to add-on acquisitions, growth capital needs, or increases in total enterprise value;
(b) Minority or preferred equity:
(i) contractual commitment at signing (if binding or likely to be fully deployed), or
(ii) funded amounts on each funding date (if non-binding or discretionary);
(c) Debt origination platforms: purchase price paid for the platform;
(d) Secondaries:
(i) total capital commitment for GP-led/continuation vehicle transactions, or
(ii) capital called for additional obligations;
(e) Directly originated debt: total capital organized and/or arranged;
(f) Short-term secondary debt instruments: increase in maximum exposure or positive net quarterly change;
(g) Other secondary debt instruments: purchase price at initial investment and for any follow-on investments;
(h) Warehouse facilities: total facility size;
(i) Acquisitions of existing real estate assets: applies the relevant equity and/or debt methodologies.
Ephod Securities Co., Ltd. and Athene calculated volunteer hours as separate entities.
Ephod Securities Co., Ltd. employees volunteered 11,900 hours, and Athene employees volunteered 8,500 hours.
Amount includes employee donations and Athene match.