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Vinci Partners Investimentos Ltda.

PRI reporting framework 2020

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

実施プロセス

FI 01. Incorporation strategies applied

以下を記載してください。 (1)組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか(2)各戦略が適用されるアクティブ運用債券投資合計の割合(+/- 5%)
社債(非金融)
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
0 スクリーニング + 統合戦略
100 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%

01.2. 特定のESG組み入れ戦略を選択している理由と、使用する戦略の組み合わせを説明してください。

Around 25% of the Credit AUM comes from a thematic fund focused on clean energy. The Vinci Energia Sustenável (VES) invests in projects of wind energy, solar energy, hydro power, etc... The rest of the of the investments goes through an integration strategy, where we incorporate ESG factors into our decision process

01.3. 補足情報 [任意]

Our ESG policy and management system (ESG MS) has been developed with the suport of a specialized ESG consulting fimr (Sitawi) along 2019


FI 02. ESG issues and issuer research

02.1. 発行体に対する分析の一部として体系的に調査するESG要因を明示してください。

社債(非金融)
環境データ
社会的データ
ガバナンスデータ

02.2. 入ってくるESG情報のフォーマットと主な情報源を明示してください。

この情報の提供者を説明してください

具体的に記載してください

          Bloomberg ESG data
        
この情報の提供者を説明してください

具体的に記載してください

          Water Risk Atlas (https://www.wri.org/); ThinkHarzard (http://thinkhazard.org/en/report/37-brazil/)
        
この情報の提供者を説明してください

02.3. 使用されているESG情報を簡単に説明してください。ESG組み入れ戦略全体における情報源の違いを明らかにしてください。

We use data from multiple sources - for example:

1) Environmental

  • Annual reports
  • Sustainability Reports
  • CDP (https://www.cdp.net/pt)
  • Bloomberg
  • WRI Aqueduct: https://www.wri.org/

2) Social

  • Company´s Reference Forms
  • Bloomberg
  • Annual reports
  • Sustainability Reports

3) Governance

  • Annual reports
  • Sustainability Reports
  • Bloomberg

02.4. 補足情報 [任意]

Today we have three strategies for private credit. They are: (i) corporate credit, focused on large corporate debt; (ii) structured credit, which focuses on investment in credit rights of small and medium-sized companies (iii) long-term credit, which includes investments in fixed-income real estate (Certificates of Real Estate Receivables or debentures backed by real estate guarantees) and renewable energy ( debentures of renewable energy generation, energy efficiency transmission, among others). In view of the particularities of each type of fund, we divided the analysis into those three segments.

Long Term Credit

To assess the ESG performance of the fixed income real estate fund, we developed a framework aimed at evaluating the assets that serve as ballast or guarantee for the issuance of CRI or debentures. This is done based on a specific questionnaire for the main types of real estate assets in the portfolio: Residential, Commercial Real Estate, Malls, Health and Electric. For this, we use some of the main sustainability standards in the real estate sector, such as Global Real Estate Sustainability Benchmark (GRESB), Leadership in Energy and Environmental Design (LEED), Sustainability Accounting Standard Board (SASB) and Climate Bonds Initiative (CBI).

This evaluation generates a rating from one to one hundred as an output, in addition to the identification of critical ESG topics that may be further discussed in the investment committee.

Structured Credit

For our structured loan funds, in view of the large number of evaluated companies, we use a more simplified process. In this process, we look at the history of fines and penalties of an environmental and social nature (labor, civil), based on consolidated databases, such as SERASA. 


FI 03. Processes to ensure analysis is robust

03.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

03.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。

03.3. 補足情報 [任意]

For our corporate credit funds, the analysis process will follow a similar path to equity, using sector questionnaires based on public information and assigning a rating of one to one hundred based on primarily public information.

To assess the ESG performance of the fixed income real estate fund, we developed a framework aimed at evaluating the assets that serve as ballast or guarantee for the issuance of CRI or debentures. This is done based on a specific questionnaire for the main types of real estate assets in the portfolio: Residential, Commercial Real Estate, Malls, Health and Electric. For this, we use some of the main sustainability standards in the real estate sector, such as Global Real Estate Sustainability Benchmark (GRESB), Leadership in Energy and Environmental Design (LEED), Sustainability Accounting Standard Board (SASB) and Climate Bonds Initiative (CBI).

To assess the ESG performance of the sustainable energy fund, we have developed a specific framework for assessing the sustainability performance of the asset and the issuer

This evaluation generates a rating from one to one hundred as an output, in addition to the identification of critical ESG topics that may be further discussed in the investment committee


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