A Managing Partner is responsible to the Board for ESG Matters (Hemen Shah) and fulfills the role of Chairman of the Board Special ESG Sub-Committee. A full-time dedicated internal ESG Director, with 20 years of experience in emerging markets and a chartered environmentalist (C.Env), is appointed to execute and deliver responsible investment activities across all phases of investment and decision making. The ESG Director reports to the Board, manages the ESG Committee and participates in investment decision making. The ESG Director works closely with Limited Partner ESG Staff to ensure transparency and accountability in meeting the funds committments on ESG matters.
The Board receives an ESG report at each meeting, unless a closed session is operating, and the ESG Director attends the Fund Board, Investor Advisory Board, Investment Committee and Portfolio Committee meetings. The ESG Director has full autonomy to direct portfolio company staff and management in the implementation of ESG requirements.
There is a Fund level ESG Committee where it holds a minority position with 2 out of 5 seats, and Portfolio Company ESG Committees (or equivalents) across each investment. The ESG Director plays a key role in each of these Committees.
Limited Partners have the majority of seats on the Fund ESG Committee with the Chair (above) and ESG Director (above) comprising the 5 members of the committee. The committee is directed to approve investments on the basis of ESG Due Diligence, changes in the Fund’s ESG policy and amendments to individual portfolio company ESG Action Plans. The committee meets quarterly and provides oversight and accountability for the ESG Director and all implementation of responsible investment decision making.