Transparency and disclosure

Transparency Policy and Approach

In addition to development impacts, FinDev Canada aims to fully understand the human rights and environmental, social and governance (ESG) risks presented by the operations of the businesses it supports.  FinDev Canada’s ESG Assessment Policy outlines the approach taken to mitigate human rights and ESG risks and potentially improve baseline ESG conditions in the businesses it supports.

Disclosure Policy

FinDev Canada is committed to transparency about its operations, strategies and policies. At the same time, FinDev Canada recognizes the requirements of a responsible financial institution to protect the commercially sensitive and confidential business and financial information of its clients. FinDev Canada is guided by a Transparency Policy that governs the disclosure of information. 

Disclosure of Aggregate Data

Aggregate data is reported quarterly on the volume of business supported by FinDev Canada against a number of elements: industry sectors, strategy goals, development impacts, geographic areas and types of financial services provided.

No data available yet.

Corporate plan

FinDev Canada's 2018 Corporate Plan as tabled in Parliament is available for consultation below:

Disclosure of Transactions

Information on individual transactions under consideration, as well as those supported by FinDev Canada can be found below. If we are unable to provide public notification 30 days in advance of the support being awarded a justification is provided.

Individual Transactions:

Transaction #1

Date of public notification (dd/mm/yy)  
 
 
 
Date of signing (dd/mm/yy) 
28/02/18
 
 
Domicile (country) of Business Operations 
Kenya    
 
 
Domicile of Incorporation 
USA     
 
 
Principal Counterparty/ies  
M-KOPA, LLC  
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Equity Investment
 
 
General description of transaction    
M-KOPA provides solar lighting and other products to off-grid households on a pay-as-you-go basis 
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10,000,000
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of ESG Information Reviewed & Summary of Transaction 
 
 
Canadian Company Involved (if applicable) 
N/A

Potential transactions

 

Date of public notification (dd/mm/yy)  
 
 
 
Date of signing (dd/mm/yy) 
-
 
 
Domicile (country) of Business Operations 
-    
 
 
Domicile of Incorporation 
    
 
 
Principal Counterparty/ies  
Climate Investor One  
 
 
Project Name (if applicable)    
N/A
 
 
Financing Service
Fund Investment
 
 
General description of transaction    
Climate Investor One facilitates early-stage development, construction financing, and refinancing to fast-track renewable energy projects in developing countries.
 
 
Amount of Financial Support (anticipated/ actual) 
USD 10,000,000
 
 
Name of Project Sponsor Project Contact (with link to Environmental and Social Impact Assessment (ESIA)) --  if applicable    
N/A
 
 
Type of ESG Information Reviewed & Summary of Transaction 
Coming soon  
 
 
Canadian Company Involved (if applicable) 
N/A

 

Managing Director’s Travel and Hospitality Expenses

As part of our commitment to good governance, we have policies governing the reimbursement of reasonable expenses required for the purposes of business travel and hospitality.

Through our website, we voluntarily publish the travel and hospitality expenses of our Managing Director and senior executives. Expenses are reported by quarter and are reflected in the period during which they are reported in our financial records.

Summary of travel and hospitality expenses for the Managing Director and for senior executives:

Managing Director

Senior executives

No expenses to report for Q1 2018.

Policies and Guidelines

Environmental, Social and Governance (ESG)

In addition to development impacts, FinDev Canada aims to fully understand the human rights and environmental, social and governance (ESG) risks presented by the businesses it supports.  FinDev Canada’s Interim ESG Assessment Policy outlines the approach taken to mitigate negative human rights and environmental and social risks and potentially improve these conditions in those businesses. A final policy will be developed in the coming months.  

 

Code of Conduct

Stakeholder Engagement

FinDev Canada is committed to actively engaging with stakeholders.

Summaries of engagement sessions are available here:

March 16th, 2018 - Innovation for Development Impact: Building a 21st Century DFI

August 1st, 2017 - Establishing Canada’s Development Finance Institution 

 

 

Stakeholder engagement process: Development Impact Framework

FinDev Canada’s Development Impact Framework was open for stakeholder comments in May and June 2018. We received more than 145 comments from over 30 different organizations and individuals, and the organizations represented a range of stakeholder types, including non-governmental organizations / civil society, development finance institutions (DFIs) and impact investors, the private sector, academic and research institutions, and multilateral and government agencies.  We are grateful to those stakeholders who took time to provide thoughtful feedback to our impact approach