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.
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
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