Additional information [OPTIONAL]
In general, we consider the third party assurance as an appropriate instrument to confirm the data and information given in the PRI report are reliable. Nevertheless, this procedure seems to bring an additional time and financial burden to PRI signatories. It can be realised that many GPs in the PE industry are outsourcing ESG to third party advisors completely. This bears the risk that the PE Portfolio Managers being responsible for developing the individual portfolio companies are kept outside the ESG questionnaire. Moreover, it can be realised that ESG is being developed as additional area of consultancy by the big four Chartered accountants: PWC, Deloitte, KPMG, E&Y. Allowing one of these or similar consultancy companies to give a third party assurance on the Quadriga Capital ESG Online Pilot may lead to the fact that the whole system of measuring more than 400 KPIs in an online dialogue with each portfolio company will be deliberately copied. That has to be avoided as the development of the QC ESG Online Pilot is the result of the ESG work during the past 10 years.
Nevertheless, we want to be constructive and think that a neutral third party like an UN PRI inspector should be allowed to check the reliability of the answers given in the UN PRI questionnaire. The next logical step forward would be that UN PRI would establish an “ESG – ISO certification”. We are happy to share our further thoughts in this matter with you.