Promoting Responsible Investment in the Financial Sector
The SPTF Social Investor Working Group works to advance responsible investment in financial inclusion. The group is led by SPTF Board Chair Jurgen Hammer of Grameen Credit Agricole Foundation, SPTF board member Margot Quaegebeur of Anthos Asset Management B.V., and SPTF board member Christophe Bochatay of Triple Jump.
The working group is open to all investors seeking financial and social returns. Currently, the SPTF has more than 300 investor members representing over 100 organizations. The working group meets twice a year in person, once in February/March and once in June (in conjunction with the SPTF annual meeting), and holds several webinars throughout the year.
The next meeting will take place on March 15-16 at the University of Zurich, hosted by the Swiss Agency for Development and Cooperation (SDC), the Swiss Capacity Building Facility (SCBF), and the University of Zürich’s Centre for Microfinance. During the afternoon of March 16, the SDC will host a forum on SPM and reporting practices of financial institutions and microfinance impact investors:
- See the draft agenda for the 2017 Social Investor Meeting.
- See the program for the SPM forum on the afternoon of March 16.
- Access information on travel to Zurich, including recommended hotels.
- Register for the meeting online! Please register ASAP as meeting size is capped.
Current Priorities of the Working Group
- Harmonizing investor due diligence and monitoring on social performance through the common tool SPI4 ALINUS, which was developed by the ALINUS Working group (Aligning Investors due diligence with the Universal Standards).
- Aligning efforts in responsible finance and the broader impact investment sector (including GIIN/IRIS, GIIRS, UNPRI/PIIF). SPTF has worked with the teams at the GIIN (who manage IRIS) and B-Lab (who manage the GIIRS rating and B Impact Assessment) to increase alignment between the indicators in the SPI4 and the metrics in the IRIS and GIIRS tools. Please read the SPTF-GIIRS one pager and the SPTF-IRIS whitepaper. Here is full list of the of the IRIS metrics that are aligned to the SPI4 indicators. The SPTF is currently exploring alignment of efforts with several other initiatives and tools.
- Harmonizing loan agreements covenants in support of responsible microfinance (“reasonable covenants 2.0”). In 2014, the group agreed on a common set of covenants and social undertakings in loan agreements to encourage responsible finance. Read the updated version released in October 2016.
- Preventing over-indebtedness. In 2014 the group developed the Investment Managers guidelines on over-indebtedness, a framework for making investment decisions in a responsible way to avoid contributing to potential over indebtedness in markets where investors work.
- Managing social outcomes – discussions integrated with the SPTF Outcomes Working Group to develop practical guidelines for investors measuring and reporting social outcomes.
- Pricing transparency – defining a model to continue to have transparent pricing data in a “post MFT” era.
- Balanced return expectations & responsible exits in equity investments.
In 2016 the group met in New York City (hosted by Deutsche Bank in March) and in Morocco (at the SPTF Annual Meeting in June). To access the presentation and meeting notes from these meetings please scroll down this page to the section "Past Social Investor Working Group Meeting Materials."
Overview of the Impact Management Project - Bridges Impact Plus, December 2016
Discussion on feedback and updates proposed for the Guidelines for setting reasonable covenants in support of responsible finance, September 2016
IRIS, SPTF and the Investor Perspective, June 2016
Investor Social Outcome Guidelines - Gathering Feedback from Investors, May 2016
Responsible Pricing - Smart Campaign, April 2016