Promoting Responsible Investment in the Inclusive Finance Sector
The SPTF Social Investor Working Group (SIWG) works to advance responsible investment in financial inclusion. The group is led by Emmanuelle Javoy of Symbiotics, Frank Streppel of Triodos Investment Management, and Edouard Sers of Grameen Credit Agricole Foundation.
Responding to COVID
In the immediate months after the pandemic started, the SIWG held biweekly virtual meetings for investors to share resources and coordinate efforts during the crisis. Catch up on those meeting's recordings and briefs below. The next SIWG COVID webinar will take place in September, and we will meet monthly going forward.
- Next meeting:
Date: Wednesday, April 21
Time: 10:30-11:30 EDT/16:30-17:30 CET
Meeting link: Join here
Meeting password: sptf
Meeting number: 180 100 3542
- 2021 meetings:
January 20: Brief, Recording, Presentation
February 17: Brief, Recording, Presentation, Next steps for Client Interview Tool
March 17: Brief, Recording, Presentation
- 2020 meetings:
April 1: Brief, Recording, Presentation
April 15: Brief, Recording, COVID-19 Client Interview Tool, Investor updates
April 24: Brief, Recording, MOU from Cooperation of MIVs (Special session)
April 29: Brief, Recording, Crisis Assessment Tool
May 13: Brief, Recording
May 27: Brief, Recording
June 10: Brief, Recording
June 24: Brief, Recording
July 15: Brief, Recording
Sept. 9: Brief, Recording
Oct. 7: Brief
Nov. 19: Brief, Recording, DWM presentation, DWM webinar recording
Dec. 9: Brief, Recording, Presentation
- LinkedIn group.The SIWG is using its LinkedIn group as a place where investors can share their latest information and questions. The group is open to investors only. Join the LinkedIn group here.
- Reasonable covenants during COVID. Responding to demand from investors, the SIWG has created a sub-group to review reasonable covenants during the COVID pandemic. Read the briefs from the group's calls, which outline the group's purpose and explores its potential outcomes: July 2020; September 2020. Read the latest version of the covenants from the group here, published in September 2020. We will revisit this draft in early 2021,when there are more data and examples of use.
Advancing client protection practices after Smart Campaign's closure
Many of the SIWG's recent meetings have focused on how to advance client protection practices after the Smart Campaign closes. The end of the Campaign provides an opportunity to rethink several processes, and investors have been particluarly interested in rethinking the Campaign's endorsement process. While the group agreed that endorsement should continue, many believe it could be strengthened with increased transparency about endorsers' actions to improve client protection practices.
To address this, the SIWG created a sub-group to begin discussing these potential changes. View the sub-group's draft concept note here (published November 2020).
2020 SPTF Social Investor Working Group Meeting
March 11, WebEx
Due to the coronavirus crisis, we canceled our in-person meeting in Lisbon. Instead, we held a half-day virtual meeting on March 11 focused on two topics: 1) Managing and measuring environmental impact and 2) Managing and measuring outcomes. See below for webinar recordings, presentations, and other related materials.
Session 1: Managing and measuring environmental impact
Amplifying the environment in the Universal Standards
Previous SIWG meetings
April 2019 meeting in Washington, D.C., hosted by the IFC.
- Visit the event webpage to see the agenda, presentations, and notes.
June 2018 meeting in Luxembourg, hosted by the Ministry of Foreign and European Affairs (MAEE) in partnership with the Inclusive Finance Network Luxembourg (InFiNe.lu).
- Read the agenda here.
- Review Day 1 presentations here.
- Review Day 2 presentations here.
- Read the executive summary here and the full minutes here.
February 2018 meeting in conjunction with the SPTF Annual Meeting in Mamallapuram, India.
June 2017 meeting in conjunction with the SPTF Annual Meeting in Mexico City.
March 2017 meeting 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 Sustainable Finance and Private Wealth.
Current SIWG priorities
- Harmonizing investor due diligence and monitoring on social performance through the common tool SPI4 ALINUS.
- Evaluating client protection risks in fintech investments during due diligence and ongoing monitoring. SPTF and CDC Group have partnered to develop a webinar series for investors to be held during October 2017 and June 2018.
- Aligning efforts with the broader impact investment sector. As part of the World Economic Forum’s initiative to accelerate impact measurement and management, SPTF led the work of an action group to develop guidance on integrating the voice of all affected stakeholders into impact investments and activities of organizations. The work "Engaging All Affected Stakeholders" has now been published and is available here. The Impact Management Project is hosting this work. SPTF has also partnered with the GIIN to develop the Financial Inclusion theme of Navigating Impact, and with UNPRI to help develop the Financial Inclusion area of the Impact Investing Market Map. The alignment work also includes coordinating with IRIS and GIIRS
- Assessing S&E performance SME finance to understand "state of practice" of S&E evaluation for FSPs financing SMEs, applicability of Universal Standards and SPI4, assess tools used by MIVs and DFIs, identify existing gaps, and provide recommendations where guidance is needed.
- Other areas of priority include: Harmonizing loan agreements covenants in support of responsible microfinance ("reasonable covenants 2.0"), preventing over-indebtedness (Investment Managers guidelines on over-indebtedness), managing social outcomes (discussions integrated with the SPTF Outcomes Working Group, pricing transparency (discussions integrated with Data Platform pilot), Balanced return expectations & responsible exits in equity investments.
Discussion of Smart Campaign closure and future client protection products, July 2020
Update on Data Platform, June 2019
Implementing Guideline 6: Promoting Fair and Transparent Pricing, May 2019
Smart Campaign PowerPoint
DEG briefing note
Takeaways from the IFC-SPTF Investor Forum, May 2019
Update on IRIS+ core metrics, February 2019
Update on SPTF Social Investor Working Group, October 2018
Update on research for assessing E&S of SME finance institutions, April 2018
Framework for E&S assessment of SME finance institutions - Updated October 2018
Indicators for E&S assessment of SME finance institutions - Updated October 2018
IFC Guidelines for Responsible DFS Investment, April 2018
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