AMG believes that sound corporate citizenship and attention to governance and environmental principles are essential to our success and that of our Affiliates. We are committed to operating with integrity; contributing to the local communities surrounding our global offices; enhancing our organization’s diversity, equity, and inclusion, and supporting these values in our surrounding communities; developing our employees; and being thoughtful stewards of natural resources. We are also focused on the security of our data and safeguarding our clients’ privacy. AMG regularly engages with shareholders and other external stakeholders on such environmental, social, and governance (ESG) topics and we endeavor to operate at best-practices levels in an evolving landscape. AMG’s Board of Directors provides oversight of ESG issues and is committed to supporting AMG’s efforts to operate as a sound corporate citizen. We believe that a conscientious approach to business strategy, corporate governance, and corporate citizenship creates long-term value.

Corporate Governance

AMG has adopted best practices in corporate governance:

  • Independent Chair
  • Independent Board committees
  • World-class, diverse, and experienced Board
  • 43% of independent Directors are female and 29% of independent Directors are ethnically diverse; two of three Committee Chairs are female
  • Annually elected Directors
  • Majority vote standard in uncontested Director elections
  • No overboarding; ongoing Board refreshment
  • Publicly disclosed corporate governance guidelines
  • No staggered Board
  • No “poison pill”
  • “Double-trigger” vesting upon change in control
  • Annual Say-on-Pay vote
  • Active engagement with shareholders

AMG’s Board of Directors has a highly independent structure, with a non-executive Chair of the Board, and all Committees are composed entirely of independent Directors (with all Audit Committee members considered to be “audit committee financial experts”). The Board undertakes annual self-evaluations (across the full Board and in each Committee) and individual director assessments. The Board is actively refreshed to maintain a wide array of qualifications, skills, and attributes. Four of the seven independent Directors have joined AMG’s Board since the beginning of 2020; all Committee Chairs have been rotated since 2020.

The Company’s by-laws provide for majority voting in uncontested director elections. Under the majority voting standard, directors are elected by a majority of the votes cast, which means that the number of shares voted “for” a director must exceed the number of shares voted “against” that director. In a contested election (a situation in which the number of nominees exceeds the number of directors to be elected), the standard for the election of directors will be a plurality of the votes cast. Any director that is not elected must tender his or her offer to resign.

Governance and Compensation Practices

Our Board of Directors is committed to maintaining responsible compensation practices and believes that rewards for our senior leaders should be commensurate with the results they achieve for our stockholders. Our strong governance procedures and practices with respect to employment and compensation include the following:

What we do:

  • Annual Say-on-Pay vote
  • Caps on incentive compensation for each Named Executive Officer (NEO), including the Chief Executive Officer
  • Equity ownership guidelines for key executives and Directors requiring long-term ownership of equity totaling a multiple of base salary or Directors’ fees, including an equity holding policy for key executives requiring ongoing ownership of fully vested and unrestricted stock
  • “Double-trigger” vesting upon change in control
  • A clawback policy that allows, under certain circumstances, for the recoupment of performance-based compensation from executive officers
  • Mitigation of dilutive impact of equity awards through share repurchases
  • Use pre-set quantitative metrics as part of a formulaic and transparent incentive compensation determination process
  • Significant portion of variable compensation is performance-based equity awards, with vesting contingent upon achievement of performance metrics
  • The substantial majority of overall compensation is in the form of variable performance-based incentive awards, with base salary and other fixed compensation generally expected to form only a small portion of total compensation
  • One-year minimum vesting on equity awards
    • Formulaic performance assessment scorecard; pre-set objective quantitative metrics drive over 90% of the assessment score, with achievement caps on each individual metric
    • Majority of equity awards are performance-based, with delivery tied to the achievement of pre-established performance targets
  • A thorough risk assessment process, as described under “Risk Considerations in our Compensation Program” in our Proxy statement

What we don’t do:

  • No employment agreements with any executive officers
  • No golden parachute change-in-control agreements with our executives
  • No tax reimbursements or gross-ups for any perquisites
  • No hedging or pledging of AMG securities by Directors or Officers
  • No option re-pricing or buy-outs of underwater stock options
  • No option grants with exercise price below grant date stock price
  • No payment of dividends on equity awards prior to vesting; accrued dividends are only delivered following vesting and satisfaction of any performance conditions
  • No excessive perquisites

Director On-boarding and Training

When a new non-executive director joins the Board of Directors, we provide an orientation program that includes personal briefings by senior management on the Company’s operations, strategic plans, financial statements, governance, and key policies and practices. New Directors also undergo in-depth training on the work of each committee of the Board. Throughout their tenure on the Board of Directors, each director is expected to maintain the necessary knowledge and information to perform his or her responsibilities as a director. To assist the directors in understanding the Company and its industry and maintaining the level of expertise required for the director, the Company will, from time to time, offer Company-sponsored continuing education programs or presentations, including sessions on select topics during the annual Board of Directors strategic offsite. Additional training is also provided when a director assumes a leadership role, such as becoming the chair of a committee.

Business Ethics and Risk Management

AMG maintains a strong corporate culture that promotes the highest standards of ethics and compliance for our business. Our Code of Business Conduct and Ethics sets forth the important principles guiding the conduct of our employees, officers, and directors. The Code governs the management of conflicts of interest and corporate opportunities, prohibits any engagement in unlawful activity in conducting AMG’s business, and requires that all business matters be conducted in accordance with ethical standards and applicable laws. Employees certify, at least annually, that they have read and agree to comply with the Code. Employees are required to report violations of the Code, or of any applicable law, rule, or regulation to the Company. Reporting of any actual or suspected code violations, misconduct, or concerns may be done confidentially through an independent, third-party operated “whistleblower” hotline available 24/7 in applicable languages, or to the employee’s manager, Human Resources, or General Counsel. AMG strictly prohibits retaliation in response to such reporting.

AMG takes seriously its responsibility to conduct its business in a manner that avoids conflicts of interest and the potential for improper influence. AMG’s Policy on Political Contributions and Other Restricted Payments requires full compliance in the conduct of AMG’s business with all political contribution, anti-bribery, and anti-corruption laws of the jurisdictions in which we and our Affiliates conduct business, including, but not limited to, the Foreign Corrupt Practices Act, the UK Anti-Bribery Act, and federal and state pay-to-play statutes and regulations. Under the Policy, employees cannot offer, or cause AMG to offer, any payment, gift, or contribution, or anything of value, including to elected officials or candidates for elective office of a federal, state, or municipal government entity, either directly or through intermediaries, for the purpose of obtaining or retaining business for AMG or our Affiliates, or gaining an advantage in the conduct of any business.

In accordance with AMG’s policy, all employees must conduct business in an honest and ethical manner. AMG takes a zero-tolerance approach to bribery, corruption, criminal facilitation of tax evasion, and improper influence, and is committed to acting professionally, fairly, and with integrity in all business dealings and relationships where we operate. Any political contributions by certain employees to candidates for federal, state, and local office must be pre-approved and reported on a quarterly basis. All employees participate in mandatory annual anti-corruption training and are required to certify at least annually that they have read and agree to comply with the Policy. To avoid even the appearance of conflict with our Affiliate investment operations, AMG has adopted a strict policy that prohibits employees from trading in their personal accounts in any publicly traded security.

AMG’s Board of Directors has principal responsibility for oversight of, and is committed to upholding, our Code of Business Conduct and Ethics and our risk management framework; the majority of Directors have extensive background and experience in risk management. On a quarterly basis, the Audit Committee discusses with management and the Company’s independent auditors the Company’s risk management processes, including major risk exposures, risk mitigants, and the design and effectiveness of the Company’s processes and controls. Furthermore, the Audit Committee and the Board of Directors as a whole receive regular reports from management and our independent auditors on prevailing material risks and the actions being taken to mitigate them, including reports regarding the Company’s business and operations. Management also reports to the Audit Committee and the Board of Directors regarding enhancements made to our risk management processes and controls in light of evolving market, business, regulatory and other conditions, including those related to ESG factors, including privacy and data security. AMG has an internal audit function which reports quarterly to the Audit Committee of the Board of Directors. The following documents are available on AMG’s corporate website: Corporate Governance Guidelines; the Code of Business Conduct and Ethics applicable to all directors, officers, and employees; the Code of Ethics applicable to our Chief Executive Officer, Chief Financial Officer, and other senior financial officers; and the charters for the Audit, Compensation, and Nominating and Governance Committees.

Succession Planning

AMG has demonstrated the depth and effectiveness of its succession planning through a recent period of organizational evolution as the Company completed a generational transition to its current Chief Executive Officer, Jay C. Horgen. In May 2018, the Company announced that Sean M. Healey, the Company’s Chief Executive Officer and Chairman at the time, had been diagnosed with amyotrophic lateral sclerosis (a terminal motor neuron disease known as ALS), and initiated its long-term succession plan. In May 2019, our Board of Directors appointed Mr. Horgen, Chief Financial Officer at the time, as President and Chief Executive Officer, and Thomas M. Wojcik joined AMG as Chief Financial Officer. The approach provided continuity of leadership in a time of unexpected transition and drew on the strengths and experiences of the Company’s most senior executives. The Board continues to serve as a source of strategic strength for the Company and for Mr. Horgen and the balance of the executive management team, bringing significant diversity in skills, experiences, and perspectives. The independent Directors and Mr. Horgen review succession planning considerations at least annually across both senior management and Director roles; they continue to focus on developing and expanding the senior management team, to maintain a breadth and depth of talent that ensures that AMG is well-positioned to continue to refine and execute against its strategy.

Human Capital

For AMG, our employees and our reputation are our most important assets, and attracting and retaining top talent to execute on our business objectives is a fundamental imperative. We have numerous programs to support our employees with respect to their health, family leave, and educational support, and are focused on building employee engagement with communities through corporate citizenship initiatives.

AMG prioritizes employee engagement through a range of cross-functional, multi-level communication mediums, such as small working group lunches, company-wide town halls, and management offsites. In 2019, AMG launched a formal employee survey, which the Company conducts annually. In 2022, the survey reported employee satisfaction of 87%.

Employee Benefits, Development, and Retention

All employees are offered a comprehensive and competitive benefits package. Some benefit programs require contributions and others are fully paid by the Company, including but not limited to:

  • AMG’s 401(k) Profit Sharing Plan
  • Health Insurance Plan (including vision care and prescription benefits); Dental Insurance Plan
  • Flexible Spending Accounts for Health Care and Dependent Care
  • Continuation of Coverage under Group Health and Dental Plans (COBRA)
  • Life Insurance
  • Accidental Death and Dismemberment (AD&D) Insurance
  • Short-term Disability Coverage
  • Long-term Disability Coverage
  • Parental Leave and On-Site Accommodations for Nursing Mothers
  • Accommodations for individuals with disabilities
  • On-site fitness center at majority of Principal Offices
  • Paid vacation commensurate with years of service
  • Occasional early office closings
  • Flexible work arrangements including a Work from Home Policy, which includes a hybrid working arrangement
  • Annual philanthropic gift-matching for each employee

In addition, each employee is required to attend an onboarding session to review benefits, policies, and procedures.

Leadership training and skills development are anchored on a comprehensive performance review process, which includes a company-wide 360-degree review program. We believe regular communication between employees and managers fosters a work-based learning environment. AMG encourages its employees to take responsibility for their development, in partnership with their managers, and leverages informal communications alongside annual performance reviews to evaluate employee satisfaction. Employees work with managers to set goals and objectives on an annual basis at minimum. AMG supports employees’ educational pursuits relating to degree programs and certifications through company-supported time off for professional development and flexible work arrangements tailored to individual employees’ educational goals.

Occupational Health and Safety

AMG strives to provide a safe and secure working environment for its employees, with formal policies and programs in place to address:

  • Injuries and accidents
  • Substance abuse
  • Highly contagious diseases
  • Violent or threatening behavior
  • Emergency evacuation
  • Weather emergencies and natural disasters

AMG’s health and safety policies are applicable to all facilities and operations. We dedicate significant resources to emergency preparedness and have placed automated external defibrillators (AEDs) throughout our principal offices. In addition to our formal policies and programs, AMG provides optional cardiopulmonary resuscitation (CPR) and AED certification courses for our employees.

Diversity and Inclusion

AMG is committed to fostering and promoting an inclusive and globally diverse work environment in which all of our employees are valued and appreciated for their contributions. We believe that diversity, equity, and inclusion result in a highly creative and innovative workforce, and engage third-party talent recruitment firms specializing in identifying strong diverse candidates to ensure we evaluate diverse candidates for all open positions. We have an Equal Employment Opportunity and Anti-Discrimination Policy applicable to all employees that prohibits discrimination based on race, color, ethnicity, national origin, religion, sex, pregnancy or pregnancy-related condition, sexual orientation, gender identity or expression, age, physical or mental disability, genetic information, ancestry, veteran status, military service, application for military service, marital status, and other legally protected classifications. Our Equal Employment Opportunity and Anti-Discrimination Policy goes hand in hand with our Anti-Harassment Policy, which prohibits sexual harassment or discriminatory harassment of any kind. Our Equal Employment Opportunity and Anti-Discrimination Policy and our Anti-Harassment Policy, and corresponding measures, include the following:

  • Explicit statement prohibiting both sexual and non-sexual harassment
  • Zero-tolerance policy for discrimination
  • Trainings for all employees on discrimination and harassment in the workplace
  • Defined escalation process for reporting incidents
  • Corrective or disciplinary action taken in case of discriminatory behavior or harassment

Our Anti-Harassment Policy details how to report and respond to harassment issues and concerns, and strictly prohibits retaliation against any employee due to reporting harassment. If AMG determines that a violation of the Equal Employment Opportunity and Anti-Discrimination Policy or the Anti-Harassment policy has occurred, appropriate disciplinary action will be taken against the offending party. We are equally committed to operating in a business environment that promotes equal employment opportunity in our hiring practices and in managing all our employees and this is evident in all aspects of our employment practices and policies. Cooperation with these policies is mandatory and relates to all hiring, promotion, and day-to-day activities of AMG. Reporting of any actual or suspected policy violations, misconduct, or concerns may be reported confidentially to the employee’s manager, Human Resources, or the Chief Administrative Officer. AMG strictly prohibits retaliation in response to such reporting.

We have implemented diversity and inclusion training for all employees to prevent discrimination or harassment, and continually seek to further enhance the diversity of our employee base as our staff around the world contribute their distinctive thinking to improve our business and communities. Our executive management team has responsibility for diversity initiatives, and reviews these with our Board of Directors on an annual basis at minimum.

AMG has achieved gender diversity of 40% across management positions, surpassing the asset management industry average. Overall, more than half of AMG’s corporate workforce is female. In addition, we are highly attentive to Board diversity and refreshment; 43% of the independent Directors are women, and 29% of the independent Directors are ethnically diverse; in each case, above the average of S&P 500 companies. We continually seek to enhance the diversity of our employee base, as our employees around the world contribute their distinct perspectives to improve our business and the communities in which our businesses operate.

Human Rights and Labor Standards

As a global enterprise, AMG recognizes the importance of upholding the highest standards of human rights across all aspects of our business. AMG is supportive of international efforts against forced labor and human trafficking. While specific laws and regulations may differ in each of our global offices, our core values are consistent and reflected in the way we operate. Globally, our business is increasingly conducted in the local language as part of our ongoing effort to facilitate open and honest communication with all stakeholders.

AMG’s human rights and labor principles apply to all of our offices, facilities, and operations. AMG employees may exercise their freedom of association with regard to collective bargaining in accordance with United Nations Conventions 87 and 98 in compliance with all applicable laws and regulations. Given the nature of our business, none of our employees are currently covered by collective bargaining agreements. We are committed to providing fair and equal wages without discrimination as well as protecting the rights of women and minority groups, as reflected by our Equal Employment Opportunity and Anti-Discrimination Policy as well as our Anti-Harassment Policy.

Our commitment to ethical standards extends to our vendors and suppliers, and we seek to align with businesses that are respectful of the rights of their employees. Our due diligence efforts confirm that our vendors and suppliers provide safe working conditions and fair wages, actively prevent discrimination in the workplace, and prohibit the use of forced labor. All vendors and suppliers must comply with child labor laws and only hire employees that meet minimum age requirements, in accordance with all health and safety laws.

AMG’s employees may report any actual or suspected violations, misconduct, or concerns regarding human rights or the health and safety of our employees to their managers, Human Resources, or the General Counsel or Chief Administrative Officer. AMG strictly prohibits retaliation in response to such reporting.

Corporate Philanthropy

Through employee engagement in our corporate philanthropic initiatives across our global offices, we are committed to giving back to the communities in which we operate. The AMG Charitable Foundation makes meaningful donations to a variety of non-profit organizations and community programs globally, with a focus on supporting educational, cultural, environmental, health, social, and other charitable initiatives in communities where AMG teammates live and work.

In 2018, AMG was a cornerstone donor in establishing The Sean M. Healey & AMG Center for ALS at Massachusetts General Hospital, with the goal of advancing scientific research in amyotrophic lateral sclerosis (ALS) and developing effective treatments for people with ALS. AMG’s investment in The Healey AMG Center has already helped to fund a number of research breakthroughs and broaden the availability of treatments globally. In 2022, AMG raised more than $1.7 million in support of charitable organizations providing humanitarian aid to Ukrainians, across individual giving by AMG and Affiliate employees as well as gift-matching by The AMG Charitable Foundation and AMG. And, in recent years, AMG donated over $1 million to COVID-19 relief efforts, and made substantial contributions to a number of organizations supporting social justice and equity, including the Equal Justice Initiative, NAACP Legal Defense and Education Fund, and Sponsors for Educational Opportunity.

As part of our ongoing global philanthropic efforts, AMG has committed to incorporate a philanthropic element at all company-sponsored employee social gatherings when practically possible. In 2022, we completed our second annual “AMG Week of Service” expanding on our “Day of Service” established in 2019. Over the past years, Week of Service projects were organized with non-profits addressing hunger, promoting sustainable agriculture, conservation of endangered landscapes, environmental education, homelessness, and at-risk youth near our global offices, as well as organizations aiding Ukrainian refugees and promoting educational opportunities for young women and girls, including first-generation-to-college students, from low-income backgrounds. All organizations benefiting from AMG’s Weeks of Service are local to AMG offices, inspiring employees to further pursue independent volunteer projects in the communities in which they live and work.

We take pride in supporting the charitable work and contributions of our employees, many of whom serve on non-profit boards or make significant contributions as volunteers within their local communities. Our employees are also generous contributors of their financial resources, including participation in company-wide campaigns to support local charities. AMG has implemented company-supported time off to encourage employees in their charitable endeavors and matches employee donations to eligible non-profit institutions. In 2022, AMG more than doubled the employee gift matching maximum, and launched a volunteer matching initiative, under which AMG will match employee volunteering hours at eligible non-profit institutions with a monetary grant to the applicable organization per each hour volunteered up to 125 hours annually. We also support grass-roots giving campaigns and event participation related to organizations supported by individuals in the AMG community.

Cybersecurity and Data Privacy

AMG has a formal information security program, designed to develop and maintain privacy and data security practices to protect company assets and sensitive third-party information (including personal information). This program is governed by a committee comprising members of senior management, including the Company’s Chief Information Officer, which meets regularly and reports to the Board of Directors at least annually.

AMG recognizes the importance of protecting information assets such as personally identifiable information (PII) of our clients and employees, and has adopted policies, management oversight and accountability structures, and technology processes designed to safeguard this information. Client-facing data privacy and security policies may be viewed here. All AMG employees and contractors with access to AMG data attest annually to information security policies, and are required to participate in regular security awareness training to protect themselves and the AMG data to which they have access. These trainings also instruct employees and contractors with access to AMG data on how to report any potential privacy or data security issues.

AMG’s Information Security organization comprises internal and external resources designed to identify, protect, detect, resolve, and recover from various threats and attacks of malicious actors. AMG leverages 24x7x365 monitoring tools and services to address the confidentiality, integrity, and availability of company assets and data. Regular internal and third-party reviews are performed on processes and technologies to validate the effectiveness of privacy and data security controls, with external independent audits at least once every two years. Employees also undergo annual cybersecurity training and periodic randomized testing to mitigate external threats.

AMG monitors best practices and developments in data privacy and security, including increased scrutiny of third-party service providers with access to sensitive company data. AMG works with third-party service providers to monitor and support the control environment and breach notification processes. AMG also maintains its own fully documented proprietary security incident response plan, with defined roles and responsibilities that address notification obligations and procedures in the event of a data breach.

AMG is dedicated to business continuity and resiliency. We have documented strategies, policies, and procedures in place to protect employee, business, and client data in the event of an emergency or natural disaster.


At AMG, we are committed to long-term environmental sustainability and reducing our impact on biodiversity through an evolving environmental impact management system in which we track, disclose, and provide reduction targets for our carbon emissions, and are dedicated to remaining good stewards of our natural environment. While we are an investment management company that does not have the direct environmental impact of other industries (such as manufacturing, energy, or retail businesses), we are committed to using natural resources efficiently and optimizing our energy use. AMG regularly engages with shareholders and other external stakeholders on environmental topics and AMG’s efforts and initiatives in this area; AMG endeavors to operate at best-practices levels in an evolving landscape. Our Environmental and Green Procurement Policy sets forth principles and guidelines that incorporate AMG’s commitment to environmental protection into our business processes and the management of our properties and facilities. In this regard, we have adopted the following initiatives and programs to increase environmental awareness among our employee base and also reduce our corporate impact on natural resources where possible:

  • Reducing usage of paper and plastic, supported by our global recycling programs along with a usage reduction of paper products through a reduction of printers in our offices
  • Reviewing our energy suppliers and opting to switch to renewable energy wherever possible, including through our transition to 100% renewable energy sources at multiple office locations
  • Prioritizing the use of energy-efficient office equipment, including the implementation of energy-efficient lighting, setback thermostats, and water filtration systems throughout our global offices, as well as energy-conserving building materials
  • Lowering the environmental impact of employee commuting and travel by establishing hybrid and flexible work arrangements, including a Work from Home Policy, and investing in telecommuting and telepresence equipment; in 2022, we installed EV charging stations at our largest principal corporate office and offered charging on a complimentary basis
  • Monitoring and disclosing our greenhouse gas emissions and consideration of environmental risks, including through our annual participation in CDP’s climate change disclosure
  • Participating in the carbon and clean energy credit markets in instances where we are unable to control our energy supplier

As a firm, we also seek to increase the development and awareness of socially and environmentally responsible procurement, and to align with businesses that not only deliver superior quality goods and services, but also operate in ways that are respectful of the rights of their employees and in ways that preserve natural resources and promote environmental sustainability. To achieve this objective, our Environmental and Green Procurement Policy includes the following principles to guide our procurement activities:

  • Evaluate recycled-content, biodegradability, and safety of materials in all office-related purchasing decisions
  • Evaluate the social and sustainability practices of vendors, and prioritize relationships with vendors that share our commitment to long-term environmental protection
  • When evaluating prospective vendors, prioritize partnering with businesses that provide their employees a safe work environment and equal employment opportunities
  • Seek partnerships with vendors who not only meet high standards and exhibit continuous improvement, but also conduct their business operations in accordance with all applicable laws and regulations

One of our principal offices, in Prides Crossing, Massachusetts, is located on 90 acres of land, the vast majority of which is maintained in its natural forested state with many walking trails accessible to the public.

Greenhouse Gas Emissions

Since 2017, AMG has completed an annual inventory of our global greenhouse gas emissions to support the monitoring, implementation, and performance of our environmental sustainability strategy. AMG committed to, and achieved, a five-year emissions reduction plan, including a 5% target reduction in Scope 1 and Scope 2 emissions. AMG participates in CDP’s Climate Change Disclosure program.

Our compilation of direct and indirect GHG emissions data is collected, assessed, and reported in compliance with the principles and guidance of the World Resources Institute and the World Business Council for Sustainable Development’s Corporate GHG Protocol.  For 2017, 2018 and 2019 emissions, we obtained third-party attestation from PwC under the attestation standards established by AICPA (AT105); and for 2020, 2021, and 2022 emissions, we obtained third-party attestation from Apex Companies under the verification standard established in ISO 14064-3 Second Edition 2019-04: Greenhouse gases — Part 3: Specification with guidance for the verification and validation of greenhouse gas statements. Our emissions are audited on a biannual basis.

In 2017, 2018, 2019, 2020, 2021, and 2022 our net direct greenhouse gas emissions (Scope 1) were 326, 277, 207, 280, 293, and 601 MT CO2e, our net indirect greenhouse gas emissions (Scope 2 location-based and market-based) were 853, 934, 792, 649, 502, and 396 MT CO2e, and our gross indirect emissions (Scope 3), resulting from business travel, were 2,039, 2,221, 2,649, 969, 527, and 450 MT CO2e, respectively. Our net total greenhouse gas emissions for Scope 1, Scope 2, and Scope 3 were 3,218, 3,432, 3,649, 1,898, 1,322, and 1,447 MT CO2e for 2017, 2018, 2019, 2020, 2021, and 2022, respectively. AMG’s intensity figure, defined as the ratio of Scope 1 and Scope 2 emissions in MT CO2e per total revenue, was zero for 2017, 2018, 2019, 2020, 2021, and 2022.

Our reported emissions figures include the purchase of renewable energy certificates (RECs), which offset 100% of our US-based Scope 2 emissions from 2018 through 2022. In 2020, AMG purchased 2,480 MWhs Green-e® certified RECs, sourced from renewable sources (100% national “any source”) located in the United States. In 2022, AMG committed to purchase carbon offsets beginning in 2023.

Additional information regarding AMG’s greenhouse gas emissions can be found on CDP’s website,

Responsible Investing

While our Affiliates retain operational and investment autonomy, and develop and maintain their own separate policies and procedures relating to environmental and sustainability matters, we collaborate with Affiliates to enhance their sustainable corporate and responsible investment practices, including product development, in some cases. We incorporate ESG matters in our assessment process for evaluating prospective Affiliate partners.

Today, a majority of our Affiliates are signatories to the UNPRI, and approximately 10% are signatories to the UK Stewardship Code. With three Affiliates wholly committed to responsible investment strategies since their inception — Parnassus Investments, Boston Common Asset Management, and Inclusive Capital Partners — along with a number of ESG-dedicated strategies offered by other Affiliates, as of December 31, 2021, more than 10% of AMG Affiliates’ aggregate assets under management were ESG-dedicated. A majority of Affiliates utilize formal responsible investment policies that consider ESG practices in their investment strategy, management engagement, and proxy voting decisions.

AMG Sustainability Committee

AMG has implemented a Sustainability Committee with oversight of policies and operational controls of environmental, health and safety, and social risks, which reports to the Board of Directors at least annually. The cross-functional Committee includes multiple members of the Company’s executive management team.

AMG fosters an open environment for discussing environmental and broader sustainability issues, and we encourage our employees to approach our Sustainability Committee with questions and suggestions regarding our practices and policies. We are committed to supporting dialogue on how AMG can enhance its position on sustainability issues consistent with the goals of our various stakeholders – including AMG’s stockholders, our employees, our Affiliates, and the investors in our Affiliates’ products.

Tax Disclosure

Taxes paid in the United Kingdom, Switzerland, Canada, and Hong Kong account for more than 80% of the Current Controlling Interest Foreign Tax Provision as disclosed in our 10-K.

Our United Kingdom Tax Strategy may be found on our Corporate Governance Site.