What makes an infrastructure?

Under the TICCS® framework, a number of fundamental economic criteria have to be present for a company and its assets to be meaningfully considered 'infrastructure':

Single-use investment (no alternative use)
Sunk or irreversible capital investment
Large size & long repayment period
Inflexible total cost structure
Infrastructure as a service (value through service provision)
Not a store of value (it's valuable because it's useful)

TICCS® is the industry standard for infrastructure investment classification and benchmarking

An Objective TaxonomyDesigned to capture risk profiles
including climate risks

TICCS® is used by the Industry& independently reviewed

How do investors in infrastructure use TICCS?

Survey of 100+ users (August 2022)

The TICCS Review Committee

Independent & Representative

Andrew Knight, Ph.D

TICCS Review Committee Chairman

Avi Turetski. Ph.D.

TICCS Review Committee Secretary

Andrew Knight (RICS)
Avi Turetsky (Ares)
Mark Blair (OTTP)
Tony Li (OTTP)
Serge Lauper (BlackRock)
Anne-Christine Champion (Natixis)
James Davis (OPTrust)
Christophe Dossarp (SOURCE)
Marie Lam-Frendo (Global Infrastructure Hub)

Trevor Lewis (ADB)
Christoph Manser (Swiss Life)
Laurence Monnier
Petya Nikolova (New York City Comptroller’s Office)
Paul Shantic (CALSTRS)
Marija Simpraga (LGIM)
Nicholas Tan (Clifford Capital)
Joss Blamire (GRESB)
Fraser Hughes (GLIO)

Normative but Open to ChangeSince 2018, an independent Review Committee advises EDHECinfra on the evolution of TICCS.
Market CONSULTATIONS TOOK PLACE IN 2019-20 AND 2021-22.