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Posts tonen met het label UN Global Goals. Alle posts tonen
Posts tonen met het label UN Global Goals. Alle posts tonen
27 december 2019
10 september 2019
Public Equity Impact Investing Theories of Change PART II
PART I : http://impactinvestingnews.blogspot.com/2019/08/public-equity-impact-investing-theories.html looked at overlapping area's & agenda's in ESG: Environment, Social & Governance management & IRD: Innovation, Research & Development activities & Impact Investing. ESG is a top down, investment/regulation dominated holistic universe where as IRD is bottom up practice & market (opportunitie & threats) based.
INVESTEE OPTIONS:
The rapidly growing ESG universe is largecap, financials dominated and open to new entries & impact potential perspectives. Analysts, Institutional Investors & Investment product overlook impact & impact growth potential undermining companies low cost access to finance opportunities for non ESG champions.
(But) ESG and overlapping IRD activities make corporations impact investment prospects as both deal with cost & -negative impact- reduction, cheaper -less harm- alternative resources & efficient production.
1st CLEAN HOUSE
Exclusion & Negative Screening: Controversies & Issues
&
2nd GET WITH IT
Dialogue & Engagement Agenda's & Awareness, Regulation
INVESTOR RELATIONS:
Shortcuts & Catalysts:
Using ESG Frameworks (theme's, metrics, indices, funds)
& Sector Expertise: IRD focus & competition
to attract investors
Asset Management Strategies & Mandates primarily define risk appropriate return goals for Investors.
Theories of Change are strategies for (impact) investors to define how to achieve impact: societal & environmental goals with risk appropriate returns.
Ethical (exclusion), ideological or sustainability motivations improve investors understanding of impact dilemma's & choices, synergies & conflicts.
In PART II I will sketch impact investment choices based on actual market offerings & trends such as ESG Risk & Opportunities Integration, Best in Class selection and PEOPLE INVESTMENT in Food, health, Housing (property!) & finance (inclusive & mesofinace).
Corporations i.e. Capitalism choosing Impact Growth Strategies: focus ESG & IRD investments towards DECOUPLING negative impact of economic growth& focus on impact services & products. Attractive investments.
Their IMPACT MOAT (long term economic perspective) is WIDE as successful companies will be the multinationals of the future providing economic growth/innovation, employment & socialtal solutions: impact services & products.
THORIES of CHANGE in IMPACT INVESTING
PART 1 & 2:
12 september 2018
IMPACT INVESTING in the United Nations Global Goals
This new series is
about impact investing in
the UN's
Global or
Sustainable
Development Goals (SDG's). I'll look at opportunities in
listed public equity impact investments focusing on PEOPLE
impact. My portfolio aims at risk related return & net
positive impact looking at sectors, (ESG) operations & impact
ambition.
In het Nederlands: http://impactinvestingnews.blogspot.com/2018/09/impact-investing-in-de-un-sustainable.html (echt waar :)
In het Nederlands: http://impactinvestingnews.blogspot.com/2018/09/impact-investing-in-de-un-sustainable.html (echt waar :)
Net impact is the
result of core activities & the contribution of sectors to the SDG's
as measured & rated by Bob 'best-in-class'
Eccles. Eccles analysed the Materiality
of Sustainability
and recently presented a model for SDG
contribution
of sectors based on
the
Sustainability
Accounting Standards
in Forbes.
Data on ESG i.e. operations
can be found online e.g. Yahoo Finance & Sustainalytics.
Future impact depends
on vision, ambition, sector, market- & technological
developments. In my portfolio selection is the result of my personal
background, education, work experience, 7 years impact investing &
priorities. The same goes for
exclusion, as impact investing without taking negative impact
into account doesn't make sense.
Impact investing
opportunities can be found in:
● investment
products & companies active
in basic needs, &
e.g. largecap
value
stock.
● investment
products & companies in
impact tech, technological
innovation making basic needs affordable &
accessible, eg growth
stock.
● A
third group are sectors & companies leading the
impact transition:
decoupling
negative impact
from growth, decreasing negative impact 'do
less harm'
& growing positive impact 'do
good'.
Sustainable benchmarks
show companies with net negative impact (AGTAF & more) investing in
impact theme's. It aims to make them future
proof
and be part of Capitalism
2.0 companies
offering societal
solutions.
There
are few sectors that are not investing in the impact transition. Only
the Tobacco sector does poorly according to
Bob
Eccles (Food
& Beverages sector
contribution to the SDG's, Forbes July29th18).
Whilst
e.g.
British
American Tobacco
(BAT) presents attractive sustainability aims: Transforming
Tobacco
for
harm reduction; sustainable agriculture and farmer livelihoods; and
corporate behaviour.
BAT gets Gold
& is the industry
leader in
RobecoSAM Sustainability
Leaders Yearbook.
My Impact Investment
Rating* model category HOLD
contains many 'sustainable' companies whose net impact has yet
to become transparent.
In my portfolio you
will probably recognize Dutch Sustainability Leaders,
multinationals as you buy their products and maybe even own
investment products such as ESG ETP's, funds, stock or bonds. The
Dutch are world champion in impact investing thanks to our
pension funds, insurers, banks & asset managers. Their impact,
ethical, sustainable or thematic (water, micro finance)
investments are usually a few percent of the AuM, but it is
our claim to global fame. The Dutch have been investing with impact
for decades and we have dedicated super sustainable banks as
catalysts in the sector.
The sector aims to
increase it's impact investments because of client demand, because
sustainable, impact investing shows better returns in the long run
and because of the limits to economic growth.
Continuing to ignore
negative impact by outsourcing it to the environment, climate
or ignoring effects on people in developed, emerging & developing
markets / countries is poor risk management & unsustainable.
To quote the UN's
secretary Ban Ki Moon:
'there is no plan B because there is no
planet B'.
The European Union,
Dutch government & it's Central Bank are facilitating impact
investing with policies, regulations (such as ESG transparency from
2018), working groups etc.
Selecting Impact
Investments can be done by:
● analysing
the marketing & definitions of
impact investments;
watch out for rebranded relaunched
products based on 'do less harm' operations as 'do good' impact
without real transition & innovation. Also
lots of focus on PLANET impact. On the up side: costs & fees can
be low(er) thus funds more inclusive.
● looking at impact
opportunities within sectors, eg property, healthcare,
energy, finance, as the impact transition to ''do
less harm'' decrease negative impact & ''do good'' have positive
impact is evolving
● looking
at technologal innovations disruptive potential to change the
world(economy).
The
world is changing rapidly & the financial sector can be huge
catalysts:
the
biggest companies in the world are Chinese & American banks
(Forbes 2018)
I aim to show (retail)
investors that impact investing is more affordable &
accessible i.e. inclusive than
they might think. Retail investors can find impact opportunities in
indexfunds & ETP's, stock,
bonds, real estate, crowdfunding for impact, etc.
In 10 Impact
Investing Myths I challenge the most common cliche's. My
Tools & Thoughtpieces
can be used to select funds, build portfolio's & analyse risk
related return & impact: The Impact
Indicator for Investment Products, The Ideal Impact Investment Product, Impact
Investment Rating & DecisionTrees for Impact Investing etc.
I use free online
available impact metrics & rating, ESG data & rating,
(Strong) Buy hold Sell advice offered by
Yahoo Finance & Sustainalytics, the Community Employees
Environment Governance ratings
on CSRHub, Toniic's Impact Investments Directory & the investment universe
(including indices) on nachhaltiges-investment.org
and of the Dutch ASN Bank & Triodos Bank.
With the series I also
aim to be a catalyst for private capital investments for impact
the way sustainable operations have attracted private capital,
thus lowered capital costs, for best in class companies
regardless of their core activities. (Eccles, Serafeim et al)
Consequently Eccles & Serafeim looked at Materiality of
Sustainability (for growth of profit & impact). Right now
Eccles is analysing (sub)sectoral Contribution to the
SDG's.(Forbes series)
About the author: I
am a doctorandus (MA) in Political
History: strategies &
trends in development cooperation
(RUUtrecht 1983 & RUGroningen 1985-1988), Master
of Arts, (Erasmus)
Institute of Social
Studies (The Hague) in
Politics of Alternative
Development Strategies (1989-1990). I worked in (leading) Charity
Marketing & Fundraising for 20 years & as an impact investor
since 2011.
Contact
& Column request:
Public
Speaking
&
Panels
https://www.zijspreekt.nl/sprekers/profile/Alcanne-Houtzaager-/721/
Twitter:
@alcanne YouTube:
https://www.youtube.com/channel/UCWy9RStgcgCMe59mhcHsbQQ
Tools
& Thoughtpieces:
ttps://www.slideshare.net/alcanne/presentations
(Dutch & English)
10
MYTHS:
Impact
Advisors (teaser)
The Impact Indicator
for Investment Products
The Ideal Impact
Investment Product: PRICP
Impact Investment
Ratings:
https://www.slideshare.net/alcanne/first-inclusive-impact-investment-rating
health care property in the UK
https://www.slideshare.net/alcanne/impact-investment-rating-impacttech-growth-stock-medidata-solutions
#healthtech
https://www.slideshare.net/alcanne/robo-etf-impactinvesting-in-robotics-ai
ETF impact investment rating
Decision Trees
Impact Investing:
https://www.slideshare.net/alcanne/decision-trees-for-inclusive-impact-investing
28 april 2018
De Impact Transitie
De
Green
Transition
als Roadmap,
#IFE18 social
entrepreneurs
inspireren
Impact
Tech
thema's voor basisbehoeften.
Investeringen
in de Green Transition bloeien
Klimaat
en groene investeringen groeien en de Nederlandse
financials,
wereldkampioenen
impact investing,
maken goed gebruik van de decennia lange ervaring met institutioneel
duurzaam investeren.
Dat bewijst de 2e
plaats van #Amsterdam
voor kwaliteit
en 4e in penetratie in de #GlobalGreenFinanceIndex #GGFI van
#FinanceWatch, een
non
profit, #MAVA
'pour
la Nature'
&
#Z/Yen
Risk
Reward managers.
De
nieuwe index is gemaakt op basis van 1,790 ratings door 337 respondenten. 47 international financial centers, van 108, kregen minstens 10 assessments van respondenten uit de bankensector, green finance professionals & NGO's. Rapport: Longfinance.net/GGFI-2018 (56 pag., pdf)
De beste
bron voor emissies, marktonderzoek & trend analyses is
www.ClimateBonds.net
'an
international, investor-focused not-for-profit. We're the only
organisation working solely on mobilising the $100 trillion bond
market for climate change solutions.
Het
ontwikkelt standaarden, certificeert raters, organiseert
kennisuitwisseling & lobbiet.
ABNAMRO
is uitgeroepen als Lead
manager Green Bonds,
een 'oeuvre'
award van
Environment Finance platform.
#RichardKoolloos interviewde zijn groene obligatie specialisten #Joop Hessels en #Dick Ligthart. VIDEO 4m abnamro/duurzaambankieren/richard-reporting
Investeringen
in de Impact Transition
Impact
Investing omvat naast Green, Planet Investing
ook nadrukkelijk investeren in de basisbehoeften
van mensen.
Mijn
impact investing focus is
gericht
op
#Inclusive,
toegankelijke betaalbare
impact investments
& People
Impact: zoals de
UN
Sustainable Development Goals: armoede,
honger, gezondheid, onderwijs, m/v gelijkheid, toegang tot schoon
water & schone energie (net zo essentieel als toegang tot
inclusive
finance),
fatsoenlijk
werk
& groei, verminderen van ongelijkheid, duurzame steden &
communities,
(toegang tot) duurzame
consumptie & productie, vrede (!), gerechtigheid & sterke
instituties door samenwerking.
Dat
betekent dat ik soms wat gefrustreerd raak door de agendering van de
Green
Transition,
maar dat is ook een Roadmap
waar de Impact
Transition
goed gebruik van kan maken. #ICMA
de
International
Capital Market Association
lanceerde na Green
Bonds Principles
ook Social & Sustainability Bonds Principles (de financiële kenmerken).
DE UITDAGING is
People
Impact thema's
te vertalen in investible
economic activities & inclusive impact investment
products
in
retail
public equity: bonds, etfs,
aandelen in sociale duurzame ondernemingen &
crowdfunding for impact
proposities (gereguleerd : MiFid & AFM).
De productontwikkelaars doen hun
best, toch zijn veel impact & #SDG beleggingsproducten vaak
gepimpte duurzame beleggingsproducten
met (logge maar rijke) largecaps
en minder oog voor de impact van de kernactiviteiten....
Kunnen
die exponentiële impact
creëren?
Ideas
from Europe
#IFE18
Ik
werd enorm geïnspireerd
door de finalisten van Ideas
from Europe
#IFE18,
social
entrepreneurs van
nationale finales die 24april j.l. in de Ridderzaal pitchten voor
impact investors,
overheden & accelerators.
Met
het ministerie voor EZ als sponsor was het thema gezondheid
#e-health
& #healthtech nadrukkelijk
aanwezig, ook in de
pitches.
De
knuffelbare
QT
'cuty' robot voor het snel activeren van kinderen met autisme ter
ondersteuning van (professionele) zorgverleners; Bloomlife, quality health care during pregnancy and childbirt; ToGoodtoGo, prevent food & beer waste app; Icho voor Alzheimer patiënten; Apisprotect bijenbescherming; Seedia vermindert CO² uitstoot en creëert een gezondere leefomgeving; Pavnext vermindert de snelheid van voortuigen voor zebra's door kinetische energie; Mightyfier & Speak Up helpen kinderen die gepest worden; Refugees{code} leert vluchtelingen coden als opstap naar werk; Rythm is een slaapverbeteraar en uit Nederland #biotech/LifeScience land Micreos dat antibacteriële resistentie inzet om de afname van antibiotica effect tegen te gaan.
Meer
informatie op: https://ideasfrom.eu/speakers/
Pitches: https://www.youtube.com/channel/UCPYKvYWMbgL7MPlMTp_JEUw
of in de
De Nederlandse finalist Mark
Offerhaus van Micreos,
antibacteriële
resistentie
is
de laatste pitcher, of kijk hier:
https://www.youtube.com/watch?v=e1f6AI-kC7I
Livestream
4 uur met Mona Keizer StaatsSecretaris EZ, Eva Biekowska Europees
Commissaris EU en
Erik
Gerritsen Secretaris-Generaal
Ministerie voor Gezondheid https://youtu.be/ppTDs9wQL7c
*De
SG van VWS, Gerritsen tweette
apps
voor persoonlijke gezondheid monitoring:
www.digitalezorggids/persoonlijke-gezondheidsomgeving/producten
Op
basis van Transparantie
van de totale
impact: positieve impact minus negatieve impact,
Thema's
& Trends,
zowel megatrends
als technologische
vooruitgang
zie ik veel kansen in Topics:
Inzicht
in het de
total
return van
investeringen is essentieel. Niet alleen winst
voor investeerders, aandeelhouders & de supply
chain,
maar ook alle afgewentelde kosten voor alle stakeholders.
Kosten die Old
Capitalism
outsourced naar de samenleving, het milieu en de toekomst vallen ook
onder risico management.....
THEMA's
Impact
investing focust op Basisbehoeften: Werk
& Inkomen & toegang tot betaalbaar Voedsel, schoon Water,
Huisvesting, Zorg, Onderwijs & (micro) financiering & de UN
Global Sustainable Development
Goals.
Impact
Tech maakt
het mogelijk &
versnelt.
TRENDS
Megatrends versnellen
de vraag, het aanbod komt van Technologische Innovatie trends.
Megatrends:
Bevolkingsgroei,
Vergrijzing in Ontwikkelde Markten en Jongeren in Opkomenden & Ontwikkelende markten, Ontkoppelen van Groei & Grondstoffengebruik, Afval & Uitstoot, ook van de 'arbeidsvoetafdruk' door de
Circulaire Economie met Producten & Diensten, DIScontent &
Angst. Technologie:
Robotica,
Automatisering, Internet
of Things, Cyber Security, AI, Blockchain, in finance Roboadvisors...
voor
impact.
Thema's
& Trends komen
samen in Topics
exponentiële
impact
& return kansen
in #Agritech,
#Biotech, #BIGDATA analyse, #Cleantech, #Crowdfunding & sourcing,
#Edutech, #e-Education, #e-Gaming, #e-Health, #Fintech, #Greentech,
#Healthtech, #Infotainment, #SaaS, #Webmining ...
Drs
Alcanne J. Houtzaager MA, Inclusive² Impact Investing, Tools
& Thoughtpieces
Please follow me on twitter @Alcanne or LinkedIn: https://nl.linkedin.com/in/alcannehoutzaager
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