We have developed an ESG In Action Programme that clearly defines oversight/accountability and implementation responsibilities of all investment professionals at General Partner level and of management teams at portfolio companies level.
We have appointed Stefano Bacci, Director of the firm, as ESG Manager and he has oversight/accountability of the whole ESG in Action Programme across the firm at GP Level and at portfolio level. He is supported by three internal resources on this task. This team has implementation responsibilities by driving execution of the investment team at portfolio level and consolidate outcomes to report.
For each investment we appoint the most senior resource, usually a Partner of the Firm, as the ESG Node. He/She has oversight/accountability and implementation responsibilities of our ESG in Action Programme at portfolio company level. Other members of the investment team (Principals, Managers, Associates, Analysts) working with the company have responsibilities as well. The more junior the role the more the responsibilities are skewed towards pure implementation and less oversight/accountability. The ESG Node is the key figure of our Programme since it usually is a Board Member in the portfolio companies and he is responsible to drive the implementation of the ESG plan we develop for the company. For example he is responsible for the engagement of C-Level staff to drive and delegate execution within the organization, for the approval of ESG policies, for execution of the plan till the monitoring and reporting of actual progress.