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SilverStreet Capital LLP

PRI reporting framework 2020

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

An annual ESG review is conducted on each portfolio company by an independent ESG consultant. Each portfolio company is scored against the SilverStreet Responsible Investment Code (RIC). The annual review also results in an ESG action plan for management to implement.

The annual ESG report is compiled using and considering the UN Sustainable Development Goals (SDGs), relevant IRIS metrics, the International Finance Corporation (IFC) Performance Standards, our own Responsible Investment Code (RIC), the UN Global Compact and the UN Principles of Responsible Investment (UNPRI).

To enable SilverStreet Capital, and investors, to understand the progress a company has made in their compliance with the Responsible Investment Code, and other international standards such as the IFC Performance Standards, SilverStreet Capital uses a scorecard approach. The scores are measured independently against seven topics covered in the Responsible Investment Code. 

Silverlands I: SilverStreet is proud to report that overall there has been a positive trend in compliance by all portfolio companies. As portfolio companies have become more established, the focus has shifted from major items to finessing the integration of ESG into the business. As such, we anticipate scores to remain in early- to mid-nineties overall (94% in 2019), as they have for the last few years.

Silverlands II: The overall compliance score has improved substantially in 2019 with overall compliance now up to 82%. Implementation is ongoing and we expect scores to rise to the medium-term goal of over 90%.

 


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Additional training interventions
        

Progress achieved

Ongoing training with portfolio companies as required. This is done online, via phone calls and during site visits.

Key performance indicator

          Ongoing submission of Monthly ESG Reports from ESG officers in each company, with improvements as required.
        

Progress achieved

ESG officers at the company level have continuously been receiving guidance, training, and comments on their monthly reports from the SilverStreet Capital ESG team. Reporting continues to improve. 

Financial performance of investments

ESG characteristics of investments

Key performance indicator

          Portfolio companies are scored against our Responsible Investment Code internal scoring system.
        

Progress achieved

Overall, Fund I investments improved from 63% in 2013 to 93% in 2017, 94% in 2018 and 94% in 2019.

Fund II average score reduced from 72% in 2017, to 67% in 2018 with the introduction of a new, low-scoring, company into the portfolio in 2018. The score subsequently increased to 82% in 2019 as this new portfolio company implements ESG management systems.

Other activities

06.2. Additional information.


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