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CDC International Capital

PRI reporting framework 2018

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

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

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, and how they consider ESG factors and real economy impact.

"Norms" we refer to develop our RI approach are mainly the UN Global Compact Principles, the Declaration of the UN Environment Programme Finance Initiative, the Long-Term Investors’ Club Charter and the PRI. We have decided to implement an investment policy which seeks to account for public interest, and which is in harmony with the RI strategy of the CDC Group. CDC IC is convinced that taking account of ESG issues contributes to value creation, value which is not only financial but also immaterial and societal.

In 2017, we drafted a RI Charter (published early 2018) to reassert our values, share our convictions and ambitions, and improve continuously our ESG approach for all assets.

Our own four commitments formalised in our Charter are:
- Sharing our ESG convictions and implementing them in the daily management of our organisation

- Integrating ESG in all our investment activities and partnerships
- Promoting the progress of our portfolio companies on ESG issues

- Making an active contribution to the fight against climate change through our investment business

A new ESG process, integrated in the investment process, was also drafted in 2017 to strengthen the ESG approach in all the stages of the investment process.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

A new ESG process was drafted in 2017 to strengthen the ESG approach in all the stages of the investment process. This ESG process was entirely integrated in the overall formalised investment process.

The objectives of this new process are the following:

1) Implementing the responsible investment policy of CDC IC by reinforcing the consideration of ESG criteria at all stages of the investment process;

2) Adopting the ESG incorporation approach as an effective management and value creation tool;

3) Being consistent with the CDC Group’s Responsible Investment strategy;

4) Applying the best market standards in this area and, at the very least, preserving the reputation of CDC IC and its parent company (CDC).

Regarding the implementation of the RI policy, the integration of ESG criteria is a natural component of the investment process (from acquisition to cession) and integrated into the investment procedure, which implies a regular awareness raising of teams on ESG issues. There is no internal ESG specialist within CDC IC and external service providers or the relevant CDC management frequently support CDC IC. Each member of the investment team is involved in ESG issues and follows ESG-related training sessions.

We also drafted a RI Charter (published early 2018) in order to share our convictions and ambitions, reassert our values, and improve continuously our ESG approach for all assets.

Our own four commitments formalised in our Charter are:
- Sharing our ESG convictions and implementing them in the daily management of our organization: a robust governance, a long-term management of our employees, and our contribution to the environment.

- Integrating ESG in all our investment activities and partnerships, mainly CDC IC ensures, at minimum:

• the respect of environmental and social standards recognised in French and European legislation, including when investing outside of the European Union,

• the fight against money laundering, financing of terrorism, embargo violations, corruption and influence peddling,

• the prevention of risks linked to investments in tax havens, the investment limited only to countries complying with international treaties signed by France and the refusal to invest in countries sanctioned for serious breaches of human rights.

- Promoting the progress of our portfolio companies on ESG issues

- Making an active contribution to the fight against climate change through our investment business and CDC IC follows the CDC Group’s climate strategy:

• reducing the carbon footprint of its investment portfolios to have a significant impact on the real economy,

• strengthening its commitments as a shareholder on climate and energy issues,

• utilising its financial resources to support low carbon projects,

• disengaging from coal.


SG 02. Publicly available RI policy or guidance documents

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

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Indicate if your organisation’s investment principles, and overall investment strategy is publicly available

02.4. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

  • The detection of potential conflicts of interst is formalised within the investment process manual. 
  • CDC International Capital favours its own interests in order to prevent all situations which will or is likely to give rise to a conflict of interest, involving a risk in connection with its activities.
  • CDC International Capital seeks to manage its activity with the desire to act loyally towards its partners. In this spirit, CDC- IC aims to taking all reasonable steps to identify and manage conflicts of interest.
  • As CDC International Capital belongs to a major Group (CDC), it takes into account all identified circumstances able to provoke a conflict of interest due to the other activities of the various activities of the CDC.
  • CDC International Capital produces on a regularly basis a register of potential or actual conflicts of interests’ situations entailing a material risk that may occur in connection with a service or an ongoing activity.
  • A 10 pages procedure is communicated to each employee who are committed to comply to it.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Not Completed)


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