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Montagu Private Equity

PRI reporting framework 2017

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Post-investment (monitoring)

PE 11. Proportion of companies monitored on their ESG performance

11.1. Indicate whether your organisation incorporates ESG issues in investment monitoring of portfolio companies.

11.2. Indicate the proportion of portfolio companies where your organisation included ESG performance in investment monitoring during the reporting year.

 (in terms of total number of portfolio companies)

11.3. Indicate ESG issues for which your organisation typically sets and monitors targets (KPIs or similar) and provide examples per issue.

ESG issues

List up to three example targets of environmental issues

          Structures to consider environmental, public health, safety and social issues with aim of improving performance and minimising adverse effects.
          Review company policies and, where appropriate, specific events to determine the effectiveness of the companies procedure in managing ESG issues.
          Promotion of greater environmental responsibility and the support of the development and diffusion of environmentally friendly technologies.

List up to three example targets of social issues

          Active avoidance of the use of child or forced labour and discriminatory policies.
          Compliance with applicable labour laws, payment of appropriate wages, maintenance of safe and healthy working conditions and respect of rights to form trade unions.
          Companies to support and protect human rights of employees and associates, and to avoid abuses of human rights by company's directors, officers and employees.

List up to three example targets of governance issues

          All companies to have an Audit and Tax Committee
          All companies to have a Nominations and Remunerations Committee
          All companies to have a Risk Committee

11.4. Additional information. [Optional]

Montagu requires all portfolio companies in which it is the majority investor to include ESG as an item for consideration. Montagu is a minority co-investor in two deals; both of these companies have robust ESG policies and processes.

Historically, Montagu has assessed the ESG performance of its portfolio via an annual questionnaire.

As part of Montagu's ongoing development of ESG monitoring during the reporting period, Montagu has assessed each portolio company in which we are majority shareholders in terms of whether specified policies, procedures and governance structures are in place. Subsequent to the reporting period Montagu is developing a set of key performance indicators that will allow greater objectivity in terms of targets and attainment levels.

PE 12. Proportion of portfolio companies with sustainability policy

12.1. Indicate if your organisation tracks the proportion of your portfolio companies that have an ESG/sustainability-related policy (or similar guidelines).

12.2. Indicate what percentage of your portfolio companies has an ESG/sustainability policy (or similar guidelines).

(in terms of total number of portfolio companies)

12.3. Additional information. [Optional]

The existance of ESG and social responsibility policies was reviewed during the reporting period.

A goal of Montagu's ESG development programme will be for all companies to have a policy in place by the end of the next reporting period.

PE 13. Actions taken by portfolio companies to incorporate ESG issues into operations (Not Completed)

PE 14. Type and frequency of reports received from portfolio companies (Private)

PE 15. Disclosure of ESG issues in pre-exit (Private)