The results of our first PRI Assessment Report are in, and we are proud to share that we scored A+ on the majority of modules.
As part of Greenspring Associates' commitment to incorporating environmental, social and governance (ESG) considerations into our operational and investment processes, the Firm became a signatory to the Principles for Responsible Investment (PRI) in 2018. This year, we completed our first PRI Assessment, providing in-depth reporting on our responsible investment commitments and practices during 2019 across a series of scored modules.
- We received A+ scores (the highest attainable) in two out of three categories, exceeding industry median scores in both cases.
- The first of the categories in which we attained an A+ score is Strategy and Governance, which we believe reflects our firm-wide commitment to responsible investment. The second category rates our investment practice on the basis of our selection and monitoring practices with respect to our underlying venture managers.
- While we scored a B in the third category, which assesses our direct management of portfolio companies, we have since successfully implemented enhancements to our process that we believe will elevate our B grade to an A when we report for 2020 in 2021, such as including language referencing the Firm’s ESG policy in our Private Placement Memorandums and Limited Partnership Agreements.