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Swen Capital Partners

PRI reporting framework 2018

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Responsible investment objectives are set, reviewed and monitored during Executive committees at least twice a year. These objectives are communicated to the whole team during SRI committees.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Perform training on a specific ESG-related issue
        

Progress achieved

In 2017, the investment and middle office teams benefited from a specific training on the integration of ESG criteria in the investment process, and, from another training on carbon and greenhouse gas issues. These trainings were conducted respectively by PwC and Carbon 4.

In 2016, the investment and middle office teams benefited from a specific training on greenhouse gas issues and on a specific french reglementation (art. 173 - energy transition law). This training was conducted by OFI AM's SRI team.

Key performance indicator

          Communicate on ESG activities to the whole team
        

Progress achieved

As the integration of ESG criteria is taken into account into the whole investment process, ESG issues are regularly discussed among team members and systematically during investment committees. Moreover, ESG activities and objectives are communicated to the whole team (back/middle office, front office and support functions) during SRI committees (at least once a year). 

SWEN CP’s annual corporate seminar (held in late 2017) was an important occasion to federate SWEN CP’s team around its ESG strategy and ambition.

Key performance indicator

          Link ESG issues to variable compensation
        

Progress achieved

Since 2015, variable compensation of investors is partly linked to the management of ESG issues

Key performance indicator

          Integrate ESG issues in the agenda of all deal flow meetings and within investment memos.
        

Progress achieved

In the course of each deal flow meeting, ESG issues are discussed systematically. Moreover, an ESG analysis is carried out and written down in investment memos. In 2017, ESG integration has been significantly strengthened into the whole investment process.

Financial performance of investments

ESG characteristics of investments

Key performance indicator

          Adapt investment commitment to ESG considerations
        

Progress achieved

Prior to investing into a fund, SWEN CP systematically pays specific attention to the ESG profile of the GPs and their underlying portfolio companies. They need to comply with SWEN CP's RI policy otherwise the investment process might be stopped or underweighted.

Other description (1)

          Setting a specific allocation for green assets
        

Key performance indicator

          % of total commitments / investments in green assets
        

Progress achieved

Each new fund of funds managed by SWEN CP will allocate a fraction of its resources to "green" assets, i.e. specialized investments in the financing of solutions for the ecological transition. The target strategic allocation will be decided before each fundraising period and will be presented to investors in all fundraising documents. This new allocation strategy is a concrete example of the implementation of SWEN CP's Climate Strategy.

Other activities

Key performance indicator

          Active participation in RI initiatives (France Invest, Invest Europe, etc.) Join other RI initiatives
        

Progress achieved

SWEN CP actively participated in all RI initiatives it has joined. For instance, the company played a role in the works leading up to the PRI's LP Due Diligence Questionnaire or LTIIA's ESG handbook. SWEN CP participated to various meetings and conferences both as speaker or listener. Recently, SWEN CP joined the Climate Initiative 2020 initiative (2016) and the PRI Infrastructure Advisory Committee (2017).

Key performance indicator

          Encourage GPs to join the PRI and to become a signatory.
        

Progress achieved

Investment directors are committed to promote the principles of the PRI and to encourage asset managers to adhere to these principles.

Key performance indicator

          Identify and share best practices within the profession.
        

Progress achieved

In 2017, SWEN CP organised the fourth edition of its ESG Best Practices Honours. These honours reward the most outstanding ESG practices from Private Equity and Infrastructure European managers. SWEN CP wanted to give market players a view of outstanding ESG practices in Private Equity and Infrastructure among over 200 management companies, both within its portfolio and across its potential investment universe.

Key performance indicator

          Incorporate case studies within the ESG annual reporting of each fund.
        

Progress achieved

A majority of ESG annual reporting incorporate case studies about outstanding ESG practices of both GPs and portfolio companies.

06.2. Additional information.


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