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GLS Gemeinschaftsbank eG

PRI reporting framework 2017

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PIIF Principle 4: Responsible investment

IFD 18. Tools for social performance reporting

Possible action:

Negotiate terms and conditions that are transparent, fair and reasonable, including fair break-up clauses.

18.1. Indicate if you use the following tools for social performance reporting:

Externally developed tools

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

As the fund guidelines prescribe, the portfolio manager is obliged to report financial data as well as social aspects on a montly basis. A committee, consisting of four internal and external experts, ensure the repsonsible investment activities of GLS Alternative Investment - Mikrofinanzfonds. The committee serves as advisor to the portfolio manager.

 
 

In-house tools based on externally developed tools

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

Tools developed solely in-house

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

We use our in-house research for social performance reporting. This consists in a 3 member team, which constantly asseses the social and ecological performance of the invested MFI.

18.2. Additional information. [Optional]


IFD 19. Retail institutions have independent financial/social rating and/or social audit

19.1. Indicate if you require the retail institutions in which you invest to have an independent financial rating.

19.2. Indicate if you require the retail institutions in which you invest to have an independent social rating.

19.3. Indicate if you require the retail institutions in which you invest to have an independent social audit.

19.4. Additional information. [Optional]

The portfolio manager conducts an audit based on social and ecological criteria for every prospective MFI. We only invest in retail insitutions which have a positive result. Especially small non regulated microfinance institutions with a strong social mission often have no capacities to pay for independet ratings. Therefore we check every microfinance institute on a case-by-case decision after on-site visits.


IFD 20. Due diligence on and monitoring and reporting of corporate governance among investees

Possible action:

Assist in developing appropriate references for corporate governance issues.

20.1. In relation to your due diligence on and monitoring and reporting of corporate governance among investees, indicate if you assess:

Compensation of the Board of Directors and Executive Directors (i.e. its transparency, the use of benchmarking)

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

    

Composition of the Board (i.e. breadth and depth of experience, effective client representation, diversity)

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

    

Whether the Board receives social performance management-related information from the management team that is analysed and contributes to Board decision making.

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

20.2. Additional information. [Optional]


IFD 21. Training or assistance for investees on corporate governance (Private)


IFD 22. Percentage of investees where board seats are held (Not Applicable)


IFD 23. Procedure to integrate environmental issues in investment decision processes

Possible action:

Assist in developing appropriate references for environmental issues.

23.1. Indicate if you have a procedure to integrate the consideration of environmental issues in your investment decision processes.

23.2. Describe how your procedure to integrate the consideration of environmental issues in your investment decisions processes affect decisions pre-investment. [Optional]

23.3. Describe how your procedure to integrate the consideration of environmental issues in your investment decisions processes affect decisions post- investment. [Optional]

23.4. Indicate if you request your investees to comply with an environmental exclusion list.

23.5. Additional information. [Optional]


IFD 24. Anti-corruption and whistle-blowing policies (Private)


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