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CDC Group plc

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct – Private Equity
Overview [PE 01 - 02] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15]
Direct - Inclusive Finance
Context [IFD 01 - 06] PIIF Principle 1: Range of services [IFD 07 - 10] PIIF Principle 2: Client protection [IFD 11 - 13] PIIF Principle 3: Fair treatment [IFD 14 - 17] PIIF Principle 4: Responsible investment [IFD 18 - 24] PIIF Principle 5: Transparency [IFD 25 - 27] PIIF Principle 6: Balanced returns [IFD 28 - 31] PIIF Principle 7: Standards [IFD 32 - 34]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Inclusive Finance » PIIF Principle 6: Balanced returns

PIIFの原則 6: バランスの取れたリターン

IFD 28. How social performance of investees affects decision making and portfolio management

考えられる取り組みの例:

顧客、リテールプロバイダーおよび投資家の利益を意識した社会的リスクおよび財務リスク調整後のバランスの取れた長期的リターンの実現を目指す。

28.1. 投資先の社会的パフォーマンスが以下の項目に影響を及ぼしているかどうかを明示してください。

投資の意思決定

28.2. 投資先の社会的パフォーマンスが投資の意思決定にどのような影響を及ぼしているかを説明してください。

CDC takes a broad view of social performance by looking at it as a part of development impact. When analysing an investment, we consider the social returns and impact that businesses deliver to underserved segments, assess potential to grow and improve performance, and monitor and manage delivery of impact. The potential for development impact and the way CDC will help the investment achieve this impact forms part of our investment thesis.

Throughout the decision-making process, development impact analysis is a fundamental part, contributing to each Investment Committee paper and discussion. Analysis is produced by impact professionals embedded within the investment teams in order to ensure the integration of investment and development considerations in the investment thesis at all stages of transaction processing.

ポートフォリオ管理

28.3. 投資先の社会的パフォーマンスがポートフォリオ管理にどのような影響を及ぼしているかを説明してください。

Post-investment, responsible investment teams track the investee's development impact performance against metrics defined alongside the DI thesis. These indicators are tracked on a quarterly basis. The responsible investment teams engage closely with management on potential projects and initiatives to help achieve these goals and, if the investee is not performing against expectations or has financial or capacity constraints, technical assistance funding may be provided.

28.4. 補足情報 [任意]

IFD 29. Staff incentives linked to social performance measures

考えられる取り組みの例:

顧客、リテールプロバイダーおよび投資家の利益を意識した社会的リスクおよび財務リスク調整後のバランスの取れた長期的リターンの実現を目指す。

29.1. 組織のスタッフを対象に包括的金融における責任投資に関連する金銭的なインセンティブまたは業績目標が設定されているかどうかを明示してください。

29.2. 補足情報

All investment teams, including those who work on inclusive finance, are responsible for all aspects of a transaction and so CDC's expectations with respect to responsible investment are an important part of each individual's performance management objectives. Investment teams and senior members of the responsible investment teams receive annual monetary benefits that are in part linked to the development impact grid outcomes of CDC investments.

IFD 30. Collecting data regarding social outcomes of investees work

考えられる取り組みの例:

顧客、リテールプロバイダーおよび投資家の利益を意識した社会的リスクおよび財務リスク調整後のバランスの取れた長期的リターンの実現を目指す。

30.1. 組織では、投資先が行う業務の社会的な成果に関してデータを収集しているかどうかを明示してください。

30.2. 補足情報　[任意]

The DI team collects CDC portfolio-wide indicators aligned with HIPSO. employment, gender breakdown, wages, financial indicators of business growth/performance, and sector-specific metrics. For inclusive finance, sector-specific metrics would include number of underserved customers reached, volume of loans to different categories of investment including SME/microfinance/affordable housing, among others. The team also collects deal-specific metrics depending on the DI thesis. These are monitored through quarterly and annual reporting and on-going engagement with investees' senior management.

 

 

IFD 31. Incentivise investees to track social performance

考えられる取り組みの例:

顧客、リテールプロバイダーおよび投資家の利益を意識した社会的リスクおよび財務リスク調整後のバランスの取れた長期的リターンの実現を目指す。

31.1. 組織では、社会的パフォーマンスを追跡するよう投資先に報奨金等を設定し奨励しているかどうかを明示してください。

31.2. 組織では、社会的パフォーマンスを追跡するよう投資先に奨励するにあたって、どのようなインセンティブを設定しているかその内容を説明してください。

As part of due diligence, we assess that businesses are incentivised to manage commercial returns, and the price of products they deliver, in balance with social/fair, transparent pricing. As part of this, we evaluate if staff is incentivised to manage that balance by looking at, for example, whether loan officer incentives are based on portfolio quality as opposed to loans disbursed.

CDC indicators, including on social and development impact, are written into the legal agreement and are reported on through Annual Monitoring Reports (AMRs). These are tracked on a quarterly and annual basis.

 

31.3. 補足情報　[任意]

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