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Cinven

PRI reporting framework 2017

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Cinven was a member of the PRI LP DDQ working group. The aim of the group was to produce guidelines for a more standardised set of reporting on ESG information by GPs, within a meaningful and sensible framework for both LPs and GPs.

Cinven has joined Invest Europe's Responsible Investment Round Table and was responsible for establishing an informal Europe wide GP ESG networking forum.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Vanessa Maydon is a Board member of Invest Europe (formerly EVCA) and in now a member of the RI roundtable.

          HKVCA  - see below.
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Joseph Wan, as vice-chairman of the HKVCA hosted a round table lunch for HKVCA members on integrating ESG into portfolio company reporting also in coordination with the PRI's Head of Asia.


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate which of the following actions your organisation has taken to promote responsible investment, independently of collaborative initiatives.

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

Cinven has implemented a process of developing a bespoke set of non-financial KPIs for each portfolio company, recognising that improving ESG performance metrics can be a value-enhancing lever in its own right. The ESG-specific KPIs are designed to address the relevant aspects of responsible investment, sustainability, the impact on society and the environment, as well as other ethical and corporate governance issues pertaining to each individual company. Due to the breadth of industries covered by Cinven’s diverse range of six sectors, the metrics tracked for each company will vary widely, albeit have been designed to achieve the same common goal.
We require all our Fund 5 and 6 portfolio companies to report on three standard ESG KPIs – which are recorded across our entire Fund 5 and 6 portfolio. These are:


1. Environment - Carbon footprint
Carbon dioxide emissions associated with direct emissions (e.g. carbon dioxide generated from the amount of electricity used within offices, factories etc. as well as generated from production processes); and from consumption of grid electricity.


2. Social - Accident / incident rates
The lost-time accident (LTA) frequency rate is defined as the number of LTAs per 1,000 employees. An LTA is defined as any work-related incident resulting in injury, stress or illness where the individual is unable to work or where a job restriction is required. LTA numbers also include any work-related fatalities. The assessment of lost time excludes the day the incident occurred, is based on calendar days, and is made without regard to whether the person was scheduled to work or not. In line with industry best practice, included in the definition of an ‘employee’ all temporary staff and contractors who work under direct supervision.


3. Governance - Anti-Bribery and corruption
Number of ABC-related incidents / complaints made against the company. To include cases that have been raised either internally or externally and should include incidents that may not have resulted in a formal action being taken.


In addition, each of our Fund 5 and 6 portfolio companies have developed (or are in the process of developing) an additional 3-4 ESG KPIs, specific to their company, which we will record and monitor on an ongoing basis.
All the ESG KPIs for each portfolio company are incorporated into our iLevel reporting framework. This work is currently being undertaken so the ESG KPI information will be recorded centrally, along with each portfolio company’s financial performance and operational KPIs. These will be monitored on an ongoing basis.

 


SG 11. Dialogue with public policy makers or standard setters (Private)


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