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Ninety One

PRI reporting framework 2020

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Post-investment (monitoring)

PE 09. Proportion of companies monitored on their ESG performance

09.1. Indicate whether your organisation incorporates ESG issues in investment monitoring of portfolio companies.

09.2. Indicate the proportion of portfolio companies where your organisation included ESG performance in investment monitoring during the reporting year.

 (in terms of total number of portfolio companies)

09.3. Indicate ESG issues for which your organisation typically sets and monitors targets (KPIs or similar) and provide examples per issue.

ESG issues

List up to three example targets of environmental issues

Example 1

          Management of natural resources.
        

Example 2 (optional)

          Avoid or minimise adverse impacts on the environment by reducing pollution from project activities.
        

Example 3 (optional)

          Reduce degradation to project effected areas
        

List up to three example targets of social issues

Example 1

          Community support and development programmes
        

Example 2 (optional)

          Contribution to economic development
        

Example 3 (optional)

          Labour rights and child/forced labour
        

List up to three example targets of governance issues

Example 1

          Schedules of delegated authority is in place with a senior member of management having direct responsibility for ESG related issues.
        

Example 2 (optional)

          Board members meet regularly and provided with relevant information before the meeting, allowing them adequate preparation.
        

Example 3 (optional)

          The company complies with all disclosure requirements under applicable law, regulations and listing rules
        

09.4. Additional information. [Optional]

Anti-Bribery & Corruption policy and Anti-Money Laundering Policies are also developed


PE 10. Proportion of portfolio companies with sustainability policy

10.1. Indicate if your organisation tracks the proportion of your portfolio companies that have an ESG/sustainability-related policy (or similar guidelines).

10.2. Indicate what percentage of your portfolio companies has an ESG/sustainability policy (or similar guidelines).

(in terms of total number of portfolio companies)

10.3. Additional information. [Optional]

All portfolio companies have ESG/Sustainability policies in place, those that did not have in the beginning of the investment period have this item included in the corrective action plan. 


PE 11. Actions taken by portfolio companies to incorporate ESG issues into operations

11.1. Indicate the types of actions taken by your portfolio companies to incorporate ESG issues into operations and what proportion of your portfolio companies have implemented these actions.

Types of actions taken by portfolio companies

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies

(in terms of total number of portfolio companies)

Implemented by percentage of portfolio companies
Implemented by percentage of portfolio companies

11.2. Describe how your organisation contributes to the portfolio companies’ resourcing and management of ESG issues.

As an organisation, we contribute at different stages to companies' management of ESG issues. At the early ESG DD stage, we work with the company to agree the action plan based on identified material ESG issues. We support them with guidance around what we would expect to see from peers that operate in listed equities and the type of data we would expect them to start monitoring. We would then continue the discussion on an annual basis as a minimum to make sure the company is making progress and adheres to the agreed ESG standards.


PE 12. Type and frequency of reports received from portfolio companies

12.1. Indicate the type and frequency of reports you request and/or receive from portfolio companies covering ESG issues.

Type of reporting 

Typical reporting frequency 

Typical reporting frequency 

          Major incidents report
        

Typical reporting frequency 

          These reports will only be required when a specific incident takes place.
        

12.2. Describe what level of reporting you require from portfolio companies, and indicate what percentage of your assets are covered by ESG reporting.[OPTIONAL]

All companies in the portfolio (100%) are required to provide Ninety One with the following information:

  • Annual Reporting according to the IFC Performance Standards;
  • Annual Development Impact data points; and
  • Investor reporting data requests

PE 13. Disclosure of ESG issues in pre-exit

13.1. Indicate whether during the reporting year your organisation disclosed information on ESG issues to potential buyers prior to exit for private equity investments.

13.2. Apart from disclosure, describe how your organisation considers ESG issues at exit.

A Vendor preparation due diligence is undertaken approximately 18 months prior to exit, all previous action plans and corrective action plans are assessed for compliance, additional deliverables may be added to address non-compliance or improve ESG operational efficiencies.

13.3. Additional information.

Before the investment is exited, the proposed buyer conducts an due diligence and the ESG action plan and completed measures are provided to the consultants.


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