Both the content of the Rating and the verification process cover many sensitive and confidential topics. As a result, GIIRS takes the privacy and confidentiality of companies’ data and information very seriously. This page is intended to help you understand what information is shared at what level.
Privacy Topics on this Page:
- Company Profile Information and Assessment Answers
- Your Ratings Report
- Verification / Documentation Process
- Frequently Asked Questions
1. Company Profile Information and Assessment Answers:
Viewable to Direct Investors:
The Managing Firm of the organization that has directly invested into the company will have access to an investee’s information including profile data, ratings reports, and assessment answers.
A direct Investor, however, will not be able to view information shared in the verification process such as the company’s Required Documentation or notes from your Assessment Review with GIIRS Staff.
A Limited Partner of a fund will not have direct access to your Assessment Answers unless you choose to share that information with them.
Viewable to GIIRS Analytics Subscribers:
GIIRS Analytics is a platform that allows investors to find and manage high impact investments. There are a wide range of financial organizations that use this tool including foundations, private equity fund managers, retail banks, high net-worth individuals, wealth managers, and large financial services organizations.
Companies can choose to make certain sets of question responses visible or invisible to GIIRS Analytics users. They can opt to: Show all answers, Show only non-sensitive answers (i.e. no financial information, etc.), or Show no answers.
If the company chooses to Show no answers, GIIRS Analytics will still use the company’s data – BUT the data will be anonymous – investors will not be able to link specific data points back to an individual company. GIIRS Analytics will use the anonymous data for Benchmarking and Analytics purposes only.
To see the complete GIIRS Terms and Conditions, click here
2. Your Ratings Report:
Omitting fields on your Ratings Report:
Companies may choose not to disclose the following items on their company report: Number of Employees, Projected Capital Raised in Upcoming FY, and Revenue Range. Once a company selects one of these options, it will no longer appear on its Company Report and will be kept confidential.
Sharing of your Ratings Report:
The first page of your Ratings Report (click here to see example) will be viewable as a PDF to investors who use GIIRS Analytics. Beyond that, the company will receive a full Ratings Report (click here to see example), which the company can choose to share with other investors, employees, or board members.
3. Verification / Documentation Process
In order to receive a Verified GIIRS Rating, GIIRS companies must upload answer-supporting documentation for a randomized set of GIIRS assessment questions.
GIIRS uses a third party to verify that the documentation supports a company’s assessment answers. Deloitte is the primary document review service provider for GIIRS.
4. Frequently Asked Questions
Why does GIIRS need sensitive information about the company?
An increasing community of Investors uses GIIRS Ratings and Analytics to evaluate and benchmark the positive social and environmental impact of investments. These investors value a GIIRS Rating for two reasons:
- Because the rating covers topics that are sensitive but good indicators of the company’s positive impact, and
- Because the results are verified to some degree instead of self reported.
Why does GIIRS need to know information about the company’s owners?
In order to maintain its credibility as an independent auditor it is Deloitte’s policy not to provide consulting services and auditing services to the same company or its material owners. As a result, before engaging in a documentation review, Deloitte must check for any potential conflicts of interests with the company being reviewed. Therefore, one of the “Standard Documents” that GIIRS asks for is a list of the company’s significant owners (>20% ownership) to enable Deloitte to conduct a conflict of interest check. If you are already a client of Deloitte, you may forgo this request. The ownership information will not be used for any other purpose and will be kept strictly confidential.
Who can view the documents my company provided for verification?
Only trained GIIRS and Deloitte staff will have access to any document provided by the company during the assessment verification process. All others including your current Fund Manager, Investment Manager, potential investor, or GIIRS Analytics subscriber, will not be able to view this information.
Can I receive a GIIRS Ratings Report without being publicly affiliated with GIIRS?
No. By signing the GIIRS Term Sheet, you agree to two minimum transparency requirements:
- Your company’s name will be listed on giirs.org as a “GIIRS Rated” company as long as your GIIRS Rating is up to date;
- The first page of your GIIRS Ratings Report (example) will be visible to paid subscribers of GIIRS Analytics. Beyond that, you have the ability to select privacy settings which dictate the level of information shared on the report.
However, the company may choose to opt out of receiving a Ratings Report and still allow their investor to use their score in their fund rating. In this case, the company’s name will not be listed on the GIIRS website and the first page of your Ratings Report will not be viewable in GIIRS Analytics.
What is the difference between All Answers and Non-Sensitive Answers?
When a company sets its question visibility for GIIRS Analytics to “All Answers,” subscribers of GIIRS Analytics will be able to view every answer provided by the company in its GIIRS impact assessment. Some companies choose to do in accordance with their own internal policies and practices regarding corporate transparency.
Comparatively, when a company sets its question visibility to “Non-Sensitive Answers Only,” the only questions visible to GIIRS Analytics subscribers will be non-sensitive in nature, as indicated within the GIIRS Assessment. An exclamation (!) symbol next to a question in the assessment is meant to denote that question as Sensitive. These questions typically ask about financial figures, employee-based metrics, and supplier-based information.