When screening potential mangers and specific funds, Nysnø considers the manager's focus, track record and policies regarding ESG. As we invest in the seed and venture phase with less publicly available infromation we supplement this through meetings with managers and further requests for documentation. Further, to be in line with Nysnø's mandate, the manager must commit to the fund contributing to the reduction of greenhouse gas emissions.
Upon investments in funds (including PE, venture and securities funds), Nysnø will include ESG assessments in its evaluation of both fund managers and funds. Nysnø will supplement publicly available evaluations and rankings with an independent assessment of the fund manager’s and the fund’s ESG work, actual as well as planned. Nysnø will solely invest in funds where the manager has signed the PRI or other equivalent internationally recognised ESG standards, or has implemented satisfactory internal ESG standards.
We ensure this by the following steps:
- using PRI's LP ESG questionnaire supplemented with questions regarding climate
- including requirements in the fund investment policy, LPA and Side Letter regarding ESG policy, portfolio follow-up and reporting duties
- including requirements that ESG issues shall be on the Advisory Committee's agenda and securing Nysnø a seat in the Advisory Committee where our investments are of such a size that this is relevant
- conducting meetings with the managers with ESG as a specific topic, both before and after appointment
Monitoring is performed by involvement in the governing bodies of the fund in which we are invested, reports from the manager and dialogue and meetings with the manager. As Nysnø has a specific climate mandate, the manager may have other funds that do not hold themselves out to meet the same standard with regards to "E" impact. Our focus is therefore primarily on ensuring that the manager is adhering to the ESG policy and impact goals set for the fund in which Nysnø is invested.