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CDC Group plc

PRI reporting framework 2019

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Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]


LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal engagements

Internal / Individual engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

As previously stated, CDC engages with all companies and does not have specific criteria to identify when and how to engage. However, the factors listed above may have an impact on the topics we engage on and the extent to which we are able to engage.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal engagements
Collaborative engagements

04.2. Additional information. [Optional]

Specific objectives are defined by the different responsible investment teams pre-investment: the E&S team develops an E&S Action Plan, including both compliance and value additionality areas where the company is expected to make efforts. E&S KPIs are monitored throughout the life of the investment and the E&S team provides ongoing support as needed. Development Impact professionals embedded into the investment teams define the DI thesis, impact objectives, and the metrics that will be tracked against that thesis. The Business Integrity team also develops BI Action Plans and conducts training and capacity building on areas where the company may need support. 

In all cases, the objectives identified at the time of investment may change as the nature or capacity of the business changes, and the responsible investment teams work closely with the companies to ensure the specific objectives continue to be appropriate.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate if you monitor and/or review engagement outcomes.
Individual / Internal engagements
Collaborative engagements
Indicate if you do any of the following to monitor and review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information [Optional]

At the time of investment, a SMART, legally binding action plan is agreed between CDC and the company to address ESG issues and opportunities identified. Post-acquisition, the action plan is monitored to drive continuous improvements in the management of ESG issues through quarterly ESG Committee meetings, KPIs, and annual monitoring reports. CDC recognises that it takes time and money to change culture and embed international good practice, and works closely with companies to support them to implement action plan items. When necessary, CDC does revisit and revise objectives on a continuous basis to ensure the objectives are appropriate and achievable. There are also ways for CDC to provide support when a company is unable to meet objectives, including through ad hoc workshops and trainings and the use of its Technical Assistance grant facility, in select cases.


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation's engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure information and insights collected through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

CDC's responsible investment teams work very closely with the investment teams; and the Development Impact team has professionals embedded within the investment teams to ensure DI is mainstreamed into all investments. Investment decision-makers are engaged throughout the due diligence process and the creation of ESG action plans. Responsible investment teams contribute to all IC papers and discussions, as well as quarterly progress reports. Information and engagements with companies are saved on shared IT systems. On occasion, presentations are held at team or company level to share information about notable experiences or good practice case studies by the responsible investment teams.

Externally, learnings are shared regularly with clients and beneficiaries. CDC produces case studies, good practice notes, and other literature regularly. It also holds ad hoc workshops to bring investees together to share experiences and challenges. In 2018, one such workshop was held in the healthcare sector, bringing together direct equity (including listed equity) healthcare investees and funds invested in healthcare in India to discuss their experiences in resource efficiency, skills development, and CSR. This experience increased engagement across all of the companies.


LEA 08. Tracking number of engagements

08.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

08.2. Additional information. [OPTIONAL]


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