ESG in Legend Capital
Adhering to the core value of “Pursue Fortune of Value”, LC has taken environment, social responsibility and governance (ESG) as the long-term development strategy. LC continually endeavors to ensure effective environmental and social management practices in all its activities, products and services.
From the latter half of 2019, Legend Capital has been actively promoting the implementation of ESG investment in the company and has made significant forward strides. In November 2019, Legend Capital formally joined UN PRI (UN Principles of Responsible Investment) as a leading forerunner VC/PE (Venture Capital and Private Equity) firm in China. On March 2, 2020, Legend Capital ESG Investment Management Measures came into effect, which marked a change from ESG concept introduction to beginning a practical operation stage.
The implementation of ESG investment in Legend Capital means that the company will manage investment risks more comprehensively, explore investment opportunities that have a long-term positive impact on the environment and society, and enhance sustainable long-term investment returns. In the meantime, the company hopes to support excellent enterprises that can cause economic and social development and focus on environmental protection through investment, and promote the sustainable development of industry and economy.
The LC Healthcare Fund II’s (“LC HC II”) Environmental & Social Management System (ESMS) is a supplementary framework of the existing ESG that integrates environmental and social risk management into its business processes and comply with the requirements of Asian Infrastructure Investment Bank (AIIB). The ESMS actions and procedures are integrated into the LC HC II’s implemented concurrently with LC HC II’s existing risk management procedures.
The ESMS ensures that LC HC II’s activities are in compliance with its environmental and social standards and LC HC II avoids and manages investments with potential environmental and social risks by conducting environmental and social due diligence prior to investment closing and adequate supervision of investments during the term of holding the investments.
The ESMS details: 1) the environmental and social policy; 2) procedures to screen deals, assign environmental risk category, and conduct due-diligence to evaluate environmental and social risks; 3) monitoring and record keeping; 4) stakeholder engagement, information disclosure and grievance redress mechanism; 5) ESMS organization structure; 6) ESMS review and continuous improvement; 7) budget, training, and 8) Senior Management approval that will be integrated in the existing risk management procedures of LC HC II to evaluate a deal’s financial risks.
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