DiligenceVault Adds New ESG and Diversity-Focused Questionnaires to Its Platform

New questionnaires from The Asset Owner Diversity Charter and The ESG Data Convergence Project are now available on the DiligenceVault platform; clients can now also access updated DDQs from PRI, LSTA and ILPA

DiligenceVault

DiligenceVault, a digital-first, due diligence technology platform for asset owners, allocators and fund managers, today announced new questionnaires from the ESG Data Convergence Project and the Asset Owner Diversity Charter are now available on the DiligenceVault platform. In addition, updated questionnaires from industry groups the Loan Syndications and Trading Association (LSTA), the Principles for Responsible Investment (PRI), and the Institutional Limited Partners Association (ILPA) are also now available on the platform for DiligenceVault clients.

The Asset Owner Diversity Charter is an initiative created by the Asset Owner Diversity Working Group. The charter was formed with an objective to formalize a set of actions that asset owners can commit to improve diversity, in all forms, across the investment industry. Signatories, including consultants, commit to surveying asset managers via the questionnaire. The consortium's Asset Manager Diversity and Inclusion Questionnaire is now available for use on the DiligenceVault platform.

"The availability of the charter questionnaire on DilligenceVault is a great step forward as it aids standardization and equips signatories in gaining greater transparency on the actions being taken by asset managers to improve diversity in the industry," said Helen Price, Co-Chair, Asset Owner Diversity Working Group, Head of Stewardship, Brunel Pension Partnership.

The ESG Data Convergence Project is a collaboration between a number of leading GPs and LPs to streamline the private equity industry's historically fragmented approach to collecting and reporting ESG data in order to create a critical mass of material, performance-based, comparable ESG data from portfolio companies. GPs will track and report six metrics from their underlying portfolio companies, beginning with calendar year 2021. The data will be shared directly with invested LPs by GPs and aggregated into an anonymized benchmark. The initial six metrics are: Scopes 1 and 2 greenhouse gas emissions, renewable energy, board diversity, work-related injuries, net new hires, and employee engagement. DiligenceVault clients can now access the group's reporting template on the platform.

In addition to these two new questionnaires, DiligenceVault has also made available on its platform updated ESG and DEI-focused questionnaires from LSTA, PRI and ILPA.

ILPA's updated Questionnaire and Diversity Metrics Template are intended to standardize the key areas of inquiry posed by investors during their diligence of managers and to provide a framework for ongoing monitoring of progress related to DEI. To that end, ILPA has introduced an updated DEI section of their DDQ, as well as a revised ILPA Diversity Metrics Template. In addition, ILPA has once again partnered with PRI to adopt in full the PRI's LP Private Equity Responsible Investment DDQ as the ESG section of the ILPA DDQ.

"We are excited to have the new standardized materials out in the industry as the enhancements represent a meaningful modernization in key areas like DEI and ESG, as well as other key topics of interest to LPs due the diligence process," noted Neal Prunier, ILPA Director of Standards and Best Practices. "The hope is that through the dual effort of greater standardization of diligence materials and through greater digitization from tools like Diligence Vault, the industry can see gains in both efficiency and caliber of transparency in key areas of decision making." 

ESG assets are on track to exceed $50 trillion by 2025, representing more than a third of the projected $140.5 trillion in total global assets under management, according to industry sources.

"DiligenceVault is committed to supporting the ESG and DEI efforts led by these industry groups, as adoption of these standards bring much needed transparency and accountability to our industry," said Monel Amin, Founder and CEO of DiligenceVault. "It's clear that the need for structured, well-defined data is a necessary input to conduct meaningful analysis and reporting, given the growing importance ESG and diversity themes are having in the investment management industry. DiligenceVault stands ready to assist in the process of improving the collection and reporting of key ESG and DEI metrics while providing modern technology to make it easy for fund managers and their portfolio companies to readily respond to these data collection efforts."

About DiligenceVault

DiligenceVault is the investment industry leader in offering a comprehensive due diligence platform for asset owners, allocators, consultants and fund managers. Today, over 30,000 users leverage the platform in digitalizing and streamlining their due diligence framework, moving away from previously manually intensive, error-prone, and expensive diligence processes. DiligenceVault is trusted by leading global asset allocators including Goldman Sachs Asset Management, NEPC, Universities Superannuation Scheme, UTIMCO, Shadmoor Advisors, Frontier Advisors and Wells Fargo. Founded in 2014, DiligenceVault delivers a global support commitment with teams in New York, London, Singapore, and India. For more information about DiligenceVault, please visit: www.diligencevault.com

For media inquiries:

Andre Boreas

VP - Head of Marketing, DiligenceVault

andre@diligencevault.com

+1 929-333-5837

Source: DiligenceVault

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Categories: Investments

Tags: due diligence, esg, institutional investors


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DiligenceVault is a digital diligence platform for the investment management industry

Andre Boreas
VP - Marketing, DiligenceVault
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