Promoting Responsible Investment in the Inclusive Finance Sector

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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.

2017 Meetings

The most recent meeting took 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 Sustainable Finance and Private Wealth.

  • See the agenda for the meeting.
  • Access the summary notes from the discussions (including prioritized workstreams going forward and list of participants).
  • Access the presentation.

The next in-person meeting will take place on June 6 in conjunction with the SPTF Annual Meeting in Mexico City.

The working group is facilitated by SPTF Secretariat member Leticia Emme. For questions, or to join the Social Investor Working Group, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..

Current Priorities of the Working Group

  1. 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).
  2. 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.
  3. 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.
  4. 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.
  5. Managing social outcomes – discussions integrated with the SPTF Outcomes Working Group to develop practical guidelines for investors measuring and reporting social outcomes.
  6. Pricing transparency – defining a model to continue to have transparent pricing data in a “post MFT” era.
  7. Balanced return expectations & responsible exits in equity investments.

Past Meetings

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."

Webinars 2017 and 2016

Introducing ALINUS - CERISE, February 2017
PowerPoint
Recording

Overview of the Impact Management Project - Bridges Impact Plus, December 2016
PowerPoint

Discussion on feedback and updates proposed for the Guidelines for setting reasonable covenants in support of responsible finance, September 2016
Recording

Navigating Impact Investing: The Opportunity in Impact Classes - Tideline and Cathy Clark at Duke University, September 2016
Working Paper
Recording

IRIS, SPTF and the Investor Perspective, June 2016
Presentation

Investor Social Outcome Guidelines - Gathering Feedback from Investors, May 2016
PowerPoint

Responsible Pricing - Smart Campaign, April 2016
PowerPoint

Introduction to the SPI4 and SPI4 ALINUS - the common social due diligence and monitoring tool for social investors, February 2016
Recording
PowerPoint

Introduction to the SPTF and the work of the Social Investor Working Group, January 2016
Recording
PowerPoint
 

Past Social Investor Working Group Meeting Materials

Materials from SPTF Social Investor Working Group meeting - May 2016, Marrakech (at SPTF Annual Meeting)
PowerPoint
Notes

Materials from SPTF Social Investor Working Group meeting - March 2016, New York City (at Deutsche Bank)
Agenda  
PowerPoint
Notes

Materials from SPTF Social Investor meeting – June 2015, Siem Reap, Cambodia (at SPTF Annual Meeting)
Agenda
PowerPoint
Notes

Materials from SPTF Social Investor meeting – March 2015, Luxembourg (at EIB)
Agenda
PowerPoint Day 1
PowerPoint Day 2
Notes

Materials from SPTF Social Investor meeting - June 2014, Dakar (at SPTF Annual Meeting)
Agenda
SPI4 Presentation
Notes