TICCS®
the infrastructure company
classification standard
Created in 2018, TICCS (and its ESG extention TICCS+) is a classification system for infrastructure investments. It is used by investors in unlisted and listed infrastructure areas and has been adopted by many investors as the default system to organise their portfolio according to 4 pillars: business risk, industrial activity, geo-economic exposure and corporate structure. Since 2022 TICCS is also mapped to NACE and the EU Taxonomy.
2024 TICCS CONSULTATION
Every two years, we organise a market consultation to prepare the review of the TICCS standard. We would like to hear your views in preparation of the release of TICCS 2024. The results of the consultation will be evaluated by the TICCS Review Committee.
The consultation is open until 31st July, 2024.
the Four Pillars of TICCS
Start using TICCS®
TICCS® is built in the context of the infraMetrics® database of private infrastructure investments, the largest of its kind, which tracks the financial performance of hundreds of infrastructure companies globally.
Each national market included in the universe is analysed in detail, including all the relevant aspects of infrastructure-procurement history and regulation in order to match this classification. The design of this universe is described in the Index Methodology Standards.
TICCS® is regularly reviewed as new markets and companies are added to the infraMetrics® database.
Key Features of TICCS
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Robust: TICCS is built on the basis of academic research on the financial economics of infrastructure companies.
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Global: Its range of categories ensures that any private infrastructure company worldwide can be integrated into this framework, be it a regulated utility or a solar-project company.
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Risk focused: While TICCS aims to categorise companies on the basis of their prima facie characteristics. It focuses on groupings that are relevant to risk and that play a role in asset pricing and portfolio construction.
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Dynamic: Infrastructure companies evolve over their life cycles and with changes in national and sector regulation. The evolution of their characteristics plays an important role in infrastructure investment and can be reflected consistently and homogeneously over time.
Review Commitee
Andrew Knight, Ph.D
TICCS Review Committee Chairman
Avi Turetski , Ph.D
TICCS Review Committee Secretary
TICCS REVIEW COMMITTEE MEMBERS
TICCS+
TICCS+ is an exhaustive, objective, and parsimonious taxonomy of the ESG impacts and risks that, by design are relevant to all infrastructure companies.
At its most granular level, the taxonomy identifies and classifies the environmental and social, impacts and risks, and outlines the principles of corporate governance, material to infrastructure companies. This taxonomy thus creates an analytical framework of ESG issues found in the infrastructure sector: TICCS+ is an ontology of ESG for infrastructure investment.
TICCS+ is based on well-established theoretical frameworks and fundamental concepts or mechanisms, making it compatible with widely adopted international frameworks. It also serves as a meta-standard that enables the mapping of identified impact and risk classes with various ESG standards, regulatory classifications, and reporting requirements. TICCS+ is built using the classification theory and first principles approach specifically for infrastructure assets.
3 Pillars of TICCS®+
