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CDC Group plc

PRI reporting framework 2020

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ガバナンスおよび人事

SG 07. RI roles and responsibilities

07.1. 組織が採用している内部または外部の役割、ならびにそれぞれの責任投資に対する監督責任および実施責任の有無について明示してください。

組織における役職

下記の内部の役割より選択;

          Directors ESG, BI, DI, VCS
        

07.2. RIの監督/説明責任または実施責任を担う役職について、このような責任をどのように果たすのか記載してください。

The board - including its development impact committee (DevCo) - has oversight of responsible investment activities across CDC. For instance, DevCo holds quarterly reviews of CDC's portfolio and pipeline to monitor progress against CDC's responsible investment objectives, and approves CDC's ESG policies. The CEO has ultimate accountability for ensuring that CDC's responsible investment policies are implemented; while the CIO and Investment Committee are responsible for making investment decisions in line with our responsible investment policies. Assessing the ESG challenges and opportunities associated with each proposed deal is an important factor in the decision-making process (with ESG covered prominently in investment committee papers and discussions).

The ESG-I, BI and DI teams have the primary responsibility for implementing CDC's Code of Responsible Investing. Meanwhile, the DI team quantify the effect of CDC's investments at the individual investment level and at a portfolio level. DI specialists are also embedded within each deal team, ensuring impact is incorporated into investment theses from an early stage. In 2018, the Value Creation Strategies (VCS) team was formed, which is responsible for oversight of four thematic areas (gender equality, human capital, job quality and climate) alongside a grant facility, CDC Plus. Together, these teams form the Responsible Investment branch of CDC.

In addition, CDC - particularly the Responsible Investment teams - frequently use consultants to carry out ESG research. For instance, the ESG-I and BI teams regularly use specialist consultants to complete ESG due diligence and monitoring on high risk and / or complex deals, while the DI team use expert advisors to undertake studies on the effect of specific types of investment.

 

07.3. 組織にいる専任の責任投資担当者の人数を記載してください。

70

07.4. 補足情報 [任意]

CDC ensures that ESG responsibilities are specified in recruitment adverts for investment roles so that new employees are aware of their role in relation to the Code of Responsible Investing from the very beginning. Training is then provided by the Responsible Investment teams to all new hires on the investment teams.

CDC has a Responsible Investing team consisting of ESG-I, BI, DI, and VCS. In December 2019, CDC's ESG-I team consisted of 20 employees who are responsible for ensuring that ESG standards are integrated into all investments. The BI team consists of 14 employees who are responsible for business integrity considerations in CDC's investments. The DI team consists of 20 employees who are responsible for determining the potential development impact of an investment, setting indicators to track it, and implementing projects to maximise it. They then assess CDC's development impact against its organisational objectives. The VCS team had 16 employees spanning the four themes of gender, job quality, climate, and skills and development, plus our Technical Assistance Facility, which reviews grant funding applications and monitors disbursed funds.


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. 気候関連問題について監視、説明責任および/または管理責任をもつ組織の役職を示してください。

取締役会メンバーまたは受託者

最高経営責任者(CEO)最高投資責任者(CIO)最高リスク責任者(CRO)投資委員会

他の最高級職員または部長(具体的に記入してください)

ポートフォリオマネージャー

投資アナリスト

専任の責任投資担当者

投資者関係(IR)

組織外の運用会社またはサービスプロバイダー

07.6 CC. 気候関連の問題の監督/説明責任または実施責任がある取締役会レベルの役職については、これらの責任の遂行方法を説明してください

At a Board level, the board has strategic oversight of CDC’s climate strategy, the Development Committee has responsibility for implementation of the strategy, the Risk Committee for oversight of climate-related risk at portfolio-level and the Audit Committee for signing off CDC's TCFD disclosures as part of the financial accounts.

07.7 CC. 気候関連の問題を評価し管理する管理レベルの役職については、その構造とプロセスを詳しく説明してください。

Material climate risk and opportunities are assessed at ExCo level. Climate change has been integrated strategically and organisationally. Climate change is one of the key cross-cutting themes outlined in CDC’s 2017-2021 strategy and CDC has developed a Climate Change Strategy covering the whole organisation and investments across sectors and products. Climate change is also reflected organisationally at ExCo level where the Chief Impact Officer is responsible for the implementation of CDC’s Climate Change Strategy. Secondly the Chief Executive Officer is ultimately responsible for delivery of CDC’s corporate objectives for 2020 including objective number eight ‘Implement CDC’s Climate Change Strategy’, a key part of which is implementing the recommendations of TCFD. In addition, CDC is also in the process of hiring a new Chief Risk Officer who will have responsibility for the oversight and management of climate risk, both physical and transition.

CDC has two teams which work together on climate related risk an opportunity, the ESG Impact team which assess climate risk and value add opportunity per transaction and the Climate Change Team, within Value Creation Services which are responsible for implementing the 2019 Climate Change Strategy across the organisation.

07.8 CC. TCFDの提言やその実施について、組織が外部運用会社またはサービスプロバイダーに何を求めるかについて説明してください。

TCFDの提言およびその実施について、外部運用会社またはサービスプロバイダーを採用していません。

          CDC hosted a climate training including TCFD for fund managers in November 2019. This was part of a four-day program.
        

SG 08. RI in performance management, reward and/or personal development

08.1. 組織のパフォーマンス管理、報奨や個人の能力開発プロセスに責任投資の要素があるかどうかを記載してください。

取締役会メンバーまたはトラスティ―(受託者)

08.1b. 個人の能力開発または研修計画における責任投資

08.2. 報告年度に取締役が責任投資に関連したスキルや知識を開発し、維持するために行った活動について説明してください。

最高経営責任(CEO)、最高投資責任者(CIO)、最高執行責任者(COO)、投資委員会

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

その他の最高幹部レベルのスタッフまたは部門長 具体的に記入してください

          Directors ESG, BI, DI, VCS
        

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

ポートフォリオマネージャー

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

投資アナリスト

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

専任の責任投資担当者

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

投資者関係(IR)

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

08.3. 組織の責任投資に関連したパフォーマンス管理、報奨や個人の能力開発プロセスについて詳細を説明してください。

Responsibilities for assessing ESG performance in CDC's investments is shared between CDC's ESG-I / BI teams and the relevant investment team. Ensuring that investments achieve development impact is built into senior team performance objectives and the DI grid outcomes are part of performance-based payments.

The investment team is responsible for all aspects of a transaction and so CDC's expectations with respect to responsible investment are an important part of each officer's performance management objectives. The Deal Team is led by the Deal Lead, who takes overall responsibility and accountability for all aspects of the deal. Each team member is individually responsible for delivering high-quality work in their respective field of specialisation (such as ESG, BI, DI, Legal) and role (such as financial modelling).

To enable investment officers to perform this role, the investment team attend training on ESG and BI matters, including a general introduction shortly after they join the organisation and being invited to other thematic workshops. The majority of training is received "on the job" by working with the ESG-I / BI teams on individual deals and undertaking site visits together. Furthermore, CDC launched a new investment process manual at the end of 2019, to provide even greater clarity on all CDC’s key policies and processes relevant to selecting, making, managing and exiting investments responsibly.

In 2018, IC members began to receive training on responsible investment topics, beginning with gender equality and women's economic empowerment.

In 2019, CDC introduced a new behavioural competency framework in line with its core values, explicitly linking adherence to the CDC mission of development impact to progression across all levels.

08.4. 投資決定プロセスへのESGファクターの組み入れに関取締役会メンバー/受託会社/チーフ・レベルのスタッフの経験レベルについて記載して下さい。

          CDC’s board has a development impact committee (DevCo) with strong academic and commercial credentials on environmental and social issues, experience at development finance institutions and of impact investing, among other skill sets. The development committee has broad oversight of CDC’s ESG and development impact strategies (including the Code of Responsible Investing), and receives quarterly updates on portfolio performance and responsible investment metrics. In addition, CDC's CEO, CIO and deputy CIO, COO and board members have previous experience incorporating ESG into the investment decision-making process through previous high-level experience at other responsible investment organisations.
        

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