Statement from responsAbility Investments AG on reporting regarding BluSmart

responsAbility is aware of recent media reports concerning BluSmart in India, including allegations of financial mismanagement and labour-related grievances following the company’s suspension of operations.

We take these reports seriously and are in direct communication with the company to assess the situation and understand the next steps. We are not in a position to comment on ongoing regulatory proceedings or internal company matters.

As part of our investment process, responsAbility applies a rigorous environmental and social due diligence approach aligned with the IFC Performance Standards (IFC PS). This framework includes Performance Standard 2 (Labour and Working Conditions), which specifically addresses the fair treatment, non-discrimination, and grievance mechanisms for workers. This framework was applied in the assessment of the BluSmart investment and continues to guide our post-investment monitoring.

We strive to ensure that our investments support sustainable development and engage with portfolio companies to encourage alignment with international social and environmental norms and standards.

India remains a key geography for our climate investment strategy for Asia. We continue to monitor the situation at BluSmart closely and remain committed to upholding our responsibility as an impact investor.