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NorthEdge Capital LLP

PRI reporting framework 2020

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We have engaged with several private equity houses to advise on their approach to ESG during the year after being noticed as a comparably-sized signatory on the PRI website.

We attended the PRI conference on climate risk/opportunity and the TCFD. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We Chair the BVCA Responsible Investment Advisory Group ("RIAG") Board. 

We set the agenda in consultation with the BVCA and take the lead on driving accountability for delivery upon the Group's purpose. This also involves close liaison with the BVCA Impact Committee. 

We have led the recruitment of new members to ensure RIAG is representative of the BVCA membership. 

As part of this role, we have engaged with the wider PE/VC community through panneling a presentation as the sole GP to 50+ PE/VC/LPs upon climate risk and opportunity, as well as the TCFD.

We have also designed a portfolio company case study for a new training module with the BVCA. 

          G7 and G20 Investor Letter on Climate Action in 2017
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We became a signatory to this letter, encouraging all major governments to adhere to and respect the implementation of the Paris Agreement. 

          PRI-Coordinated engagement on cyber security
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are a participant in this PRI-sponsored effort to establish best practice on cyber security, which we will then cross-apply to our portfolio. 

          New Plastics Economy Global Commitment
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We have sustained our support to move the wider ESG agenda forward by becoming a signatory to the New Plastics Economy Global Commitment, led by the Ellen MacArthur Foundation. The Commitment and its vision for a circular economy for plastic are supported by the World-Wide Fund for Nature (WWF) and have been endorsed by the World Economic Forum, The Consumer Goods Forum and 40 universities, institutions and academics. For our part, we have begun expanding and introducing our network to spark product innovation amongst our portfolio, including at Accrol Papers (paper-based toilet roll packaging) and Clearly Drinks (increased targets for recycled plastic).

          Initiative Carbone/IC20/ICI
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are working with several other PE houses to launch a UK-equivalent/sister organisation of this French institution into UK PE/VC - which looks for all members to capture the C02e footprint of their portfolios. 

We believe, in line with COP26, this would be a good organisation to bring into UK private equity. 


SG 09.2. Assets managed by PRI signatories (Not Applicable)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Whenever a house enquires for ESG/RI advice, we are a willing participant. In 2019, this included support to Praetura, NVM and Oxford Capital.
        

Frequency of contribution

Description

          At the events described below in 2018, we made the case for ESG/RI adoption by PE/VC firms, regardless of their size. In 2019, we progressed this to climate risk/opportunity and the TCFD.
        

Frequency of contribution

Description

          In 2018: We held an event with the BVCA entitled: ESG Journey - PE and VC Masterclass. Despite the rather optimistic title, it was well received and we parsed our experience on ESG to 30+ firms in the room. We also spoke on an LP panel at the Green Finance Forum, as well as on the BVCA FoPE course.
In 2019: As the sole GP alongside PwC and Anthesis, we panelled an event for GPs/VC/LPs re; climate risk, opportunity and the TCFD, in collaboration with the BVCA (with 50+ attendees).
        

Frequency of contribution

Description

          We reviewed our 20 year track record in the context of the SDGs and issued this to the Partner Group, for consideration of a positive opportunity to become overweight in assets which support the SDGs. We utilised IRIS+ to measure this. We also created an 'impact fundraising' review for discussion at Partner-level, of the observed trends in the impact investment market, and their potential application to NorthEdge.
        

Frequency of contribution

Description

          Through the course of our mentorship, we always encourage firms' to sign up to the PRI.
        

Frequency of contribution

Description

          Member of the cyber security working group.
        

Frequency of contribution

Description

          Elected Chairman of the BVCAs Responsible Investment Advisory Group.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

We are engaged with local universities to support our portfolio companies in delivering and expanding their ESG efforts. 


SG 11. Dialogue with public policy makers or standard setters (Private)


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