E&S Policy

Dolma Fund Management (DFM) is a fund manager based in the Republic of Mauritius. Dolma Fund Management (DFM) currently manages Dolma Impact Fund I (vintage 2014, USD 36MN, LPs: FMO, Finnfund, OeEB, DGGF and HNWI/family office investors). Dolma Impact Fund I is a fixed life fund of 10 years that started on 14th September 2014. Fund I has invested in two hydropower projects, two solar projects, a pharmaceutical manufacturer, a hospital, and three technology companies.

 

Dolma Impact Fund I and II provide capital and expertise to growth companies in Nepal. Executive management of the funds is provided by DFM Mauritius, with advice provided to DFM Mauritius by Dolma Advisors Private Limited (a Nepal-based investment advisor).

 

As an impact fund, we build positive environmental and social (E&S) impact into the core of investee company strategies. DFM believes that high standards in environmental and social management are fundamental to good business and that by working with investee companies to enhance their E&S processes and performance, we are creating value and positioning the companies for a place in an international market. DFM’s primary investment sectors are in renewable energy, healthcare, and tech companies.

 

DFM is committed to working with companies to enhance E&S performance consistent with DFM’s Environmental and Social Management System (ESMS). This requires DFM to work with potential investee companies to identify the gaps between their environmental and social performance and good international industry practices. Once agreement is reached for DFM to invest, we will work with our investee partners to develop capacity for improved E&S management, invest in efficient technologies and achieve enhanced outcomes, meeting the applicable requirements within a reasonable period of time.

 

The investors in DFM include international development banks, which require that all investments meet the requirements of the IFC Performance Standards and the International Labour Organisation (ILO) and United Nations (UN) Guiding Principles of Business and Human Rights. In this respect, DFM’s ESMS is aligned with the requirements of these international standards. DFM provides important support to its investee companies to aid in the understanding of these requirements and the capacity to manage their activities accordingly. Accountability towards investors is maintained through regular monitoring and reporting mechanisms.

 

DFM will maintain, throughout the lifetime of all its investments, an External Communication Mechanism (ECM) to receive any public concerns related to the Fund and its investments. Through the ECM, DFM will work with relevant parties to address the cause of any valid complaints and inform the complainant of any such actions taken.

 

DFM’s CEO is ultimately responsible for the ESMS of the fund. The dedicated E&S Manager is responsible for administration and oversight of the ESMS. We commit to ensuring that all DFM staff will have adequate training to perform their roles in the implementation of the procedures.  This policy will be communicated to the entire DFM team who will be expected to adhere to the policy.

 

The ESMS will be reviewed and revised accordingly on an annual basis or as needed.