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Quadriga Capital

PRI reporting framework 2019

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Confidence building measures

CM1 01. Assurance, verification, or review

01.1. Indicate whether the reported information you have provided for your PRI Transparency Report this year has undergone:

01.2. 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.

CM1 02. Assurance of last year's PRI data

02.1. We undertook third party assurance on last year’s PRI Transparency Report

02.3. Additional information [OPTIONAL]

          We did not assure retrospectively last year's PRI transparency report, however, the verification of responses takes place on three levels:
1) The responses given by the ESG management of the portfolio companies are verified through the dialogue between them and the ESG project managers of Quadriga Capital. 
2) During the data collection process ESG managers of the portfolio companies may call their ESG Team of Quadriga Capital or its consultant Hydrodata directly in order to make sure that any question have been correctly understood. This feedback dialogue opportunity is kept open throughout the whole year.
3) All questions occuring throughout the business year including ESG questions received from institutional investors of the Quadriga Capital funds, the ESG managers of portfolio companies, the external experts or Quadriga's own ESG responsibles are integrated into the QC ESG Online Pilot. This makes sure, that the QC ESG Online Pilot is being continuously updated and will include ESG matters as they occur.

CM1 03. Other confidence building measures

03.1. We undertake confidence building measures that are unspecific to the data contained in our PRI Transparency Report:

          In all portfolio companies of the Quadriga Capital funds the various industry standards like ISO certification, environmental certification, etc. are part of the annual audits.

03.5. Additional information [OPTIONAL]


CM1 04. Assurance of this year's PRI data

04.1. Do you plan to conduct third party assurance of this year's PRI Transparency report?

04.3. Additional information [OPTIONAL]

          Please refer to our comment given for topic CM 01

CM1 05. External assurance (Not Applicable)

CM1 06. Assurance or internal audit (Not Applicable)

CM1 07. Internal verification

07.1. Indicate who has reviewed/verified internally the whole - or selected data of the - PRI Transparency Report . and if this applies to selected data please specify what data was reviewed

Who has conducted the verification

Sign-off or review of responses

Sign-off or review of responses

07.2. Additional information [OPTIONAL]