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Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO)

PRI reporting framework 2020

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You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

          We do not apply benchmark
        

ESG Objectives

          Require the Fund Manager (FM) to have policy/approach on ESG
        
          Exclusion list
        
          Require FM to have ESMS on fund level
        
          Communicate with the FM on ESG issues via regular update calls/emails and monitoring visits
        
          Include guidance on Environmental, Social and Governance Criteria (ESG) in legal documentation for Private Equity Funds.
        
          As the initial assessment of potential investments, FMO checks that the fund does not breach FMO's exclusion list. Fund is also required to commit to E&S investment.
- Fund to commit to E&S Investment Code before first investment. IFC PS is used for high risk clients and FMO makes sure the ESMS is ready before first investment and sufficient qualitative and quantitative capacity is in place to execute the ESMS.

The investees are required to comply to national law and ILO core convention.

- Work to (ultimately) comply with IFC PS
(for high risk investee companies only)
Policy for continuous improvement
        

Incentives and controls

Reporting requirements

Benchmark

          We do not apply benchmark
        

ESG Objectives

          Exclusion list
        
          Require client to have ESMS
        
          Communicate with the client on ESG issues via regular update calls/emails and monitoring visits
        
          Include guidance on Environmental, Social and Governance Criteria (ESG) in legal documentation infrastructure investment.
        
          Adherence to IFC PS and WB EHS Guidelines for Cat A, B+ and B clients.
Adherence to national law for Category C clients.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          
        

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