The board - including its development impact committee (DevCo) - has oversight of responsible investment activities across CDC. For instance, DevCo holds quarterly reviews of CDC's portfolio and pipeline to monitor progress against CDC's responsible investment objectives, and approves CDC's ESG policies. The CEO has ultimate accountability for ensuring that CDC's responsible investment policies are implemented. The CIO and Investment Committee are responsible for making investment decisions. Assessing the ESG challenges and opportunities associated with each proposed deal is an important factor in the decision-making process (with ESG covered prominently in IC papers and discussions).
The Environmental and Social Responsibility (ESR), Business Integrity and Compliance (BI) and Development Impact (DI) teams have the primary responsibility for implementing CDC's Code of Responsible Investing. Meanwhile, the DI team quantify the effect of CDC's investments at the individual investment level and at a portfolio level. DI specialists are also embedded within each deal team, ensuring impact is incorporated into investment theses from an early stage. In 2018, the Value Creation Strategies (VCS) team was formed, which is responsible for oversight of four thematic areas (gender equality, human capital, job quality and climate) alongside a grant facility, CDC Plus. Together, these teams form the Responsible Investment branch of CDC.
In addition, CDC - particularly the Responsible Investment teams - frequently use consultants to carry out ESG research. For instance, the ESR and BI teams regularly use specialist consultants to complete ESG due diligence and monitoring on high risk and / or complex deals, while the DI team use expert advisors to undertake studies on the effect of specific types of investment.