AfricaSIF.org Trends Report 2011 - 2013

  • What is the size and trends of the sustainable investment marketplace in Africa? 
  • All-volunteer project team and project partners collaborate to first-ever pan-African research report released Q2 2013
SinCo is proud to partner with AfricaSIF.org on the Trends 2012 Report. 
AfricaSIF.org's most important project to generate NEW research every two years is the AfricaSIF.org Trends Report, a sustainable investment benchmarking survey conducted every two years in coordination with global SIFs. Nearly four years after the global financial crisis, the region’s fortunes continue to thrive, forcing even the convinced Africa skeptics among investors to re-consider their positions. Starting in 2012 AfricaSIF.org will work with the global SIFs on a Global Sustainable Investment Trends Report.



REPORTS

Outputs are:

1. AfricaSIF.org Trends Report  

Africa report covering state of sustainable investment due end-October for December release
maximum 30 pages + appendixes
definitions and survey methodology in line with global SIFs
asset size broken down by strategy, investor type, and by country
website http://www.africasif.org/marketplace-and-trends-report.php
complete the survey now CLICK > www.africasif.org/trends-2012-survey.php


2. Global Sustainable Investment Trends Marketplace Report 2012 

Africa region coverage for global SIFs report due October for December release
maximum 2 pages summary, using global SIf methodology
website http://www.africasif.org/global-sustainable-investment-trends-report.php


See also AfricaSIF.org KNOWLEDGEBASE for reports on:
  • Sub-Saharan Africa (IFC + SinCo, July 2011)
  • North Africa (IFC + BSR Europe, January 2010)


SCOPE

Report will provide a global figure of sustainable investment assets in Africa.
Assets will be measured as of 31 December 2011
Report will cover both secondary and primary research using survey technique and available data from investors, stock exchanges, regulators and/or services providers in Africa. The report will use the recent research in Sub-Saharan Africa (IFC + SinCo, July 2010) and North Africa (IFC + BSR Europe + Hawkamah Institute, January 2011).
Report will firstly cover assets Africa assets managed from Africa, secondly assets managed from outside Africa. Maximum 30 pages plus appendices; PDF publication; limited release hardcopy printing with media release.

The report will answer the question: how much sustainable investment is in Africa today, and what does it look like? The report is designed to offer a marketplace survey of the institutional investment industry in Africa focused on investments that in some way cover environmental, social and governance factors. The activities of portfolio investors, fund management industry, stock exchanges and other stakeholders will be covered where relevant to describing the marketplace. We seek to offer participants learnings on what is/is not being done in Africa, and the ongoing risks and opportunities in the context of economic development in Africa.



METHODOLOGY

Major Definition
AfricaSIF.org will use "Sustainable Investment" as the term in the report and define it as: "an approach to investment in any asset class in Africa where environmental, social and governance (ESG) factors are proactively integrated at any stage of the investment life cycle."

Classifications
  1.  Screening
    1. norms-based
    2. negative/exclusionary
    3. positive/best-in-class
  2. Integration
  3. Sustainability-themed investing (e.g. climate change, water, agriculture, and renewable energy funds)
  4. Impact Investing
  5. Corporate Engagement and Shareholder Action

What Gets Counted
While we will separate out ESG-branded products in the final report and present a discussion on retail-level ESG, we will not use motivation of institutional investors (whether values-based or value-based) to count or not count assets. PRI signatories will be looked at to cross-reference our data or to identify organizations that need to be surveyed. We will not wholesale include these assets. The report will describe:
  • Assets broken down by strategy
  • Assets by investor type
  • Assets by country
EVENTS
PARTNERS
PROJECT PEOPLE
We value all our partners and/or sponsors helping the all-volunteer team to deliver an excellent report. The Project Team operates in the Project Workspace and is currently made up of:


Project Partners Team

Partners Group

Mark van Wyk, Mergence Investment Managers
Adri Joubert & Ryan Andersen, Frost & Sullivan
Jon Duncan & Fiona Kalk, Old Mutual Investment Group South Africa (OMIGSA)
Barbara Evans, Bloomberg ESG
Therese Niklasson, Investec Asset Management (IAM)

Resource Group
Adrian Bertrand & Belaina Negash, Government Employees Pension Fund (GEPF)
Martina Macpherson MSCI ESG
Gareth Allison, MSCI Africa
Jako Volschenk, University of Stellenbosch Business School (USB)


AfricaSIF.org Project Team

Work Group

Deon Smith, RisCura & AfricaSIF.org [Project Manager]
Asmaa El Bacha Blanc, AfricaSIF.org
Olivia Muiru, B.Lab & AfricaSIF.org
Pamela Leste De Perindorge, AfricaSIF.org
Avril Harvey, University of Cape Town Graduate School of Business MBA Candidate 2012
Graham Sinclair, SinCo & AfricaSIF.org
Keith Comline, Comline Attorneys & University of Cape Town Graduate School of Business MBA Candidate 2013
Adekanmi Lawson, AfricaSIF.org & Edward Nathan & Sonnenbergs (ENS)
Ian Meaker, AfricaSIF.org & Future Champs
Buyiswa Nodada, Independent Actuaries & Consultants & AfricaSIF.org

Other
Greg Barker, Sustainable Capital & AfricaSIF.org
Miles Mudzviti, AfricaSIF.org
Sam Obamiyi, Craven Cottage Partners


See BIOs at AfricaSIF.org Trends Report Project Team Biographies or http://www.africasif.org/trends-team-bios.php
PROJECT PHASES


Project Management
Research Launch
Framework - Design
Framework - Peer Review
Data ask
Data clean
Analysis
Peer review
Rework
Writing
Publication
Report Launch Events (Africa / Global)
Report Marketing/Exposure
Project Summary
Project Close
GLOBAL PRECEDENTS & OTHER AFRICA RESEARCH


This is the first-ever Africa report. We have learned from two different types of similar reports and AfricaSIF.org has the support and encouragement of all global SIFs to conduct this research:

IFC-funded reports on sustainable investment, IFC+BSR Europe MENA report (Jan 2010) and IFC+SinCo Sub-Saharan Africa report (July 2011) - see AfricaSIF.org KNOWLEDGEBASE


SIF marketplace trends reports in
  • USA - http://ussif.org/resources/research/
  • Canada - http://www.socialinvestment.ca/publications.htm
  • Europe - http://www.eurosif.org/research/eurosif-sri-study/
  • Asia - http://www.asria.org/publications


RECENT MARKET REPORTS


  • US SIF Foundation Launches Research for 2012 Report on Sustainable and Responsible Investing Trends in the United States, WASHINGTON, D.C., May 29, 2012 ‘Trends Report’ Tracks Influence of Sustainable Investing Strategies in the United States, Set for November Release
    • http://www.ussif.org/news/releases/pressrelease.cfm?id=189
  • SIO publishes the 2010 Canadian Socially Responsible Investment Review, 5 May 2011  
    • http://www.socialinvestment.ca/documents
  • The UK Sustainable Investment and Finance Association and Thomson Reuters announced the results of the 10th annual Thomson Reuters Extel / UKSIF Socially Responsible Investing & Sustainability Survey. The 2012 Survey represents the views of over 500 investment professionals from 27 countries.
  • Global collaboration on sustainable investment advances as leadership of sustainable investment organizations meet in London, 7AM GMT 2 April 2012
    • http://www.asria.org/news/press/1334055606
  • Summer 2012: Special 20th Anniversary Issue - "The Next 20 Years of Sustainable Business & Investing", SIF TRENDS REPORT: Global SRI Trends  By the Social Investment Forum
    • http://www.greenmoneyjournal.com/article.mpl?newsletterid=55&articleid=832
MEDIA RELEASES
AfricaSIF.org Launches First-Ever Pan-African Research Project on Investment Management and ESG

- 28 September 2012 Embargoed until midnight SAST 27 September 2012 -

CAPE TOWN, South Africa, 28 September 2012 - How much investment in Africa today proactively integrates environmental, social and corporate governance (ESG) factors? A new research project has been launched today to find answers by mapping the marketplace for sustainable investment in Africa across all asset classes. The first-ever pan-African report will be released mid-December 2012.

The AfricaSIF.org Marketplace Trends 2012 Report Project is led by the all-volunteer AfricaSIF.org (Africa Sustainable Investment Forum) team based in Mauritius, Kenya, Nigeria, Tunisia, South Africa, USA and the UK. Project partners include major firms active in the investment value chain in Africa, namely the Government Employees Pension Fund of South Africa, Investec Asset Management, Mergence Investment Managers, Old Mutual Investment Group South Africa, MSCI, Bloomberg, Frost & Sullivan, RisCura, and SinCo.

"GEPF is delighted to partner with AfricaSIF.org and other project partners in the Marketplace Trends 2012 report,” said Adrian Bertrand, ESG Manager. “We welcome this research and are confident that it will add a fresh African perspective when surveying global trends in sustainable investment,” he added.

“This evidence-based research of investment trends put into the public domain will help all stakeholders figure out “where to from here” for sustainable development in Africa,” said Graham Sinclair, President of AfricaSIF.org. “Through this project, AfricaSIF.org is scaling up the awareness, increasing technical skills, and advocating for sustainable investment in Africa.”

According to IFC research in 2011, the investment market in Africa using self-described ESG policies has over US$125 billion in assets under management, making Africa a significant market for ESG in investment practice. AfricaSIF.org defines "sustainable investment" in the report as: "an approach to investment in any asset class in Africa where environmental, social and governance (ESG) factors are proactively integrated at any stage of the investment life cycle."

More than 500 investment managers globally who invest in Africa across any asset class will be canvassed through surveys and interviews. Investment managers who participate qualify for an invitation-only briefing adjacent to the official launch of the report in December. The online research consultation is scheduled to close on 13 October 2012. All respondents will be acknowledged in the report. On completion of the online survey's 25 questions, respondents may view the real-time aggregated responses to date.

Future potential project partners in Africa are invited to connect with the project. In keeping with AfricaSIF.org’s transparent and inclusive approach, information on the project is available at http://www.africasif.org/marketplace-and-trends-report.php. Investment managers in Africa are invited to complete the online survey at http://www.africasif.org/trends-2012-survey.php.



- Ends -


NOTES TO EDITORS

About AfricaSIF.org:

AfricaSIF.org is an independent, pan-African, not-for-profit network, knowledgebase and advocate promoting investment in sustainable development across the continent launched in June 2010. The AfricaSIF.org Project is run by volunteers building a network of institutions and individuals promoting sustainable investment in Africa by investors in public, private and philanthropy sectors across asset classes, countries and stakeholders from our platform at africasif.org.
 
For more information on the AfricaSIF.org Marketplace Trends 2012 Report Project see - http://www.africasif.org/marketplace-and-trends-report.php
For managers of investments in Africa, please complete the survey online see - http://www.africasif.org/trends-2012-survey.php


Media Enquiries:

Deon Smith
Project Manager: AfricaSIF.org Marketplace Trends 2012 Report Project
+27.82.774.1259

Graham Sinclair
President: AfricaSIF.org
+27.82.712.1925

WEB:  www.AfricaSIF.org
EMAIL:  africasif@gmail.com
TWITTER:  @africasif


Global Partner Organizations:

The following people are representatives of partner organizations of the report and are also available for comment:
•    Bloomberg:  Jane Armstrong, jarmstrong42@bloomberg.net, +44 203 525 8111
•    Frost & Sullivan: Adri Grobler adri.groble@frost.com  +27.82.653.8785;  CC Christie Cronje Christie.Cronje@frost.com
•    GEPF: Khaya Buthelezi; GEPF Communications Manager; khaya.buthelezi@gepf.co.za, +27 12 424 7329
•    Investec Asset Management: Therese Niklasson; Therese.Niklasson@investecmail.com;  +44 20 7597 2189 ; CC Malcolm Gray; Malcolm.Gray@investecmail.com; CC Vian Sharif Vian.Sharif@investecmail.com,
•    Mergence: Farzaanah Richards, Office Manager, Farzaanah@mergence.co.za  +27 21 433 29607
•    MSCI: Martina Macpherson, Vice President, Marketing & Commercial Relationships, martina.macpherson@msci.com, +44 20 7618 2231
•    RisCura: Kerry Sinclair, Head of Marketing RisCura, ksinclair@riscura.com +27 21 673 6999
•    OMIGSA: Jon Duncan, Head of Responsible Investment:  jduncan@omigsa.com; +27 21 509 1014; cc Head of  Media and Communications, Lynn Bolin, lbolin@omigsa.com; +27 21 509 5667
•    SinCo: Graham Sinclair, Principal, +27.82.712.1925 info@sincosinco.com @SinCoESG




SELECTED QUOTES FROM PARTNERS:

 1.  BLOOMBERG
"Bloomberg is committed to supporting the global integration of Environmental, Social and Governance risk and opportunity analysis into sustainable investment decision making. Understanding the current state of the sustainable investment market in Africa and identifying opportunities for further development is a key step in ensuring ESG issues are effectively priced in a market that is expected to see significant growth in the coming years. To that end, Bloomberg is pleased to be a project partner for the first AfricaSIF.org Marketplace Trends Report," – Curtis Ravenel, Global Head, Sustainability Group Bloomberg L.P., New York USA.

2. INVESTEC ASSET MANAGEMENT
 “We are pleased to be a part of this project with AfricaSIF.org and believe it will be an interesting and useful exercise in terms of starting to map the African ESG investment landscape”.  - Therese Niklasson, Head of ESG Research, Investec Asset Management
"As a significant investor in Africa we see the process of identify and measuring the growing importance of ESG in Africa as an important aspect in the process of improving the depth and the quality of Africa's capital markets.  As the last remaining frontier of investment, a strong ESG culture will service the continent well as it seeks to attract greater degrees of global capital flows from increasingly discerning capital allocators." - Malcolm Gray, Portfolio Manager, Investec Asset Management

3. OLD MUTUAL INVESTMENT GROUP SA (OMIGSA)
“Old Mutual Investment Group SA (OMIGSA)'s strong commitment to responsible investment is reflected in our responsible investment and ownership guidelines. AfricaSIF.org is an important study and we are proud to contribute to this project that will support the growth of the responsible investment industry across Africa.” - Jon Duncan, Head of Responsible Investment, Old Mutual Investment Group SA.

4. RISCURA
“These days we are all aware that institutional investors have a responsibility to the world around them. This research will open up an important opportunity for trustees and funds to make a difference,” - Claire Rentzke, Consultant, RisCura Consulting.

5. FROST & SULLIVAN
“Overcoming negative perceptions of the African continent, and the opportunities it has to offer, are still some of the biggest challenges faced in attracting investment. Initiatives like the Marketplace Trends report will go a long way to managing these perceptions more effectively and shifting the paradigm from ‘should we invest in Africa’ to ‘managing risk of not being in Africa.” Hendrik Malan, Operations Director for Africa, Frost & Sullivan.

6 JAKO VOLSCHENK, USB
“Good data about investment practices in Africa is hard to find and currently there seems to be very little incentive for the rest of the world to map the status quo. The work done by AfricaSIF.org will go a long way in improving our understanding of the view of institutional investors in Africa of ESG issues. Investment behaviour tells us much about where the market might move, as well as where pressure needs to be applied to address environmental and social issues in Africa.” -  Jako Volschenk, University of Stellenbosch Business School.

7. MSCI
“We are delighted to be partnering with AfricaSIF.org on the Marketplace Trends Report”, says Martina Macpherson, Vice President, Marketing and Commercial Relationships at MSCI. “Recent developments in (South) Africa, such as changes to Regulation 28 of the South African Pension Fund Act and the launch of the Code for Responsible Investing in South Africa (CRISA) place a growing emphasis on ESG developments in the region. We hope that this Report will help asset owners and managers to better meet their mandates and understand ESG-driven investment risks and opportunities.”

8. SINCO
“At SinCo, we seek to add to the body of knowledge on sustainable investment by sharing ideas with thought-leaders globally,” said Graham Sinclair, Principal of SinCo. “Now as a supporter of AfricaSIF.org from day one, we are pleased to help this research project take shape, and look forward to the new learnings from Africa.”

9. MERGENCE INVESTMENT MANAGERS
"By incorporating environmental, social and governance [ESG] issues into our investment process, we encourage the companies we invest in to strike a balance between profits and being socially responsible, and to actively manage their environmental impact while maintaining high levels of corporate governance standards. We support AfricaSIF.org's initiatives, and expect that this report will improve the understanding of sustainable investment in Africa going forward." – Mark Van Wyk, Portfolio Manager - SRI Debt, Mergence Investment Managers.

FURTHER BACKGROUND NOTES
1. PREVIOUS REPORTS  According to International Finance Corporation (IFC)-funded reports on sustainable investment in 2010 (covering Middle East / North Africa region) as well as the 2011 report (covering Sub-Saharan Africa), the possible market in ESG assets under management in Africa is estimated at over US$ 125 billion. Based on research by SinCo and RisCura, the Sub-Saharan Africa report was launched alongside the Code for Responsible Investment (CRISA) in Johannesburg, South Africa in July 2011. CRISA is regarded as world-best practice in voluntary investor initiatives. MORE AT http://www.africasif.org/knowledgebase.php
See previous SIF marketplace trends reports in:
USA - http://ussif.org/resources/research/
Canada - http://www.socialinvestment.ca/publications.htm
Europe - http://www.eurosif.org/research/eurosif-sri-study/
Asia - http://www.asria.org/publications

2. GLOBAL COORDINATION  The first-ever AfricaSIF.org Marketplace Trends 2012 report is to be released in early December 2012. Sustainable investment benchmarking surveys are conducted every two years in North America, Europe, Asia and Oceania. This is the first-ever Africa report, and will feed into the global Sustainable Investment Forum Trends report released simultaneously in December 2012.

3. AUDIENCE  The audience is wide, covering investment managers, stock exchanges, regulators, legislators, think tanks, advertising agencies, consulting firms, analysts, academia, and the media covering Africa. The report will be a distributed at zero cost electronically with a limited hardcopy run. We expect more than 2,000 downloads of the report.

4. PEOPLE
Partners Group
i.    Mark van Wyk, Mergence Investment Managers
ii.    Adri Joubert & Ryan Andersen, Frost & Sullivan
iii.   Jon Duncan & Fiona Kalk, Old Mutual Investment Group South Africa (OMIGSA)
iv.   Barbara Evans, Bloomberg ESG
v.   Therese Niklasson, Investec Asset Management (IAM)
i.     Adrian Bertrand & Belaina Negash, Government Employees Pension Fund (GEPF)
ii.    Martina Macpherson MSCI ESG
iii.    Gareth Allison, MSCI Africa
iv.    Jako Volschenk, University of Stellenbosch Business School (USB)

AfricaSIF.org Project Volunteer Team
i.     Deon Smith, RisCura & AfricaSIF.org [Project Manager]
ii.    Asmaa El Bacha Blanc, AfricaSIF.org
iii.   Pamela Leste De Perindorge, AfricaSIF.org
iv.   Olivia Muiru, B.Lab & AfricaSIF.org
v.    Avril Harvey, University of Cape Town Graduate School of Business MBA    Candidate 2012
vi.   Graham Sinclair, SinCo & AfricaSIF.org
vii.   Keith Comline, Comline Attorneys & UCT Graduate School of Business MBA Candidate 2013
viii.  Adekanmi Lawson, AfricaSIF.org & Edward Nathan & Sonnenbergs (ENS)
ix.   Ian Meaker, AfricaSIF.org & Future Champs
x.    Buyiswa Nodada, Independent Actuaries & Consultants & AfricaSIF.org
xi.   Greg Barker, Sustainable Capital & AfricaSIF.org
xii.  Miles Mudzviti, AfricaSIF.org
xiii.    Sam Obamiyi, Craven Cottage Partners

 

MEDIA COVERAGE

 
 
 

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SNAPSHOT

Project Home

http://www.sincosinco.com/africasiforg-trends-2012-report.php


Objectives

- Increase new information on Africa investment.
- Map marketplace for ESG in asset management


Approach
- Inclusive team approach integrating AfricaSIF.org volunteers & partners
- pan-African coverage
- any investor in Africa, any asset class


Outputs
- website of project
- reports for Africa Trends 2012 Report and Global SIF Trends Report
- media launch advocates for AfricaSIF.org
- Increases knowledgebase and network


Project Participants
- Over 500 investment managers canvassed for online survey and interviews

Advisory Committee
...

Steering Committee
Work Group
Deon Smith, RisCura & AfricaSIF.org [Project Manager]
Asmaa El Bacha Blanc, AfricaSIF.org
Olivia Muiru, B.Lab & AfricaSIF.org
Pamela Leste De Perindorge, AfricaSIF.org
Avril Harvey, University of Cape Town Graduate School of Business MBA Candidate 2012
Graham Sinclair, SinCo & AfricaSIF.org
Keith Comline, Comline Attorneys & University of Cape Town Graduate School of Business MBA Candidate 2013
Adekanmi Lawson, AfricaSIF.org & Edward Nathan & Sonnenbergs (ENS)
Ian Meaker, AfricaSIF.org & Future Champs
Buyiswa Nodada, Independent Actuaries & Consultants & AfricaSIF.org

AfricaSIF.org Project Team
Buyiswa Nodada, Independent Actuaries & Consultants & AfricaSIF.org
Greg Barker, Sustainable Capital & AfricaSIF.org
Miles Mudzviti, AfricaSIF.org
Sam Obamiyi, Craven Cottage Partners


Project Partners
Partners Group
Mark van Wyk, Mergence Investment Managers
Adri Joubert & Ryan Andersen, Frost & Sullivan
Jon Duncan & Fiona Kalk, Old Mutual Investment Group South Africa (OMIGSA)
Barbara Evans, Bloomberg ESG
Therese Niklasson, Investec Asset Management

Resource Group
Adrian Bertrand & Belaina Negash, Government Employees Pension Fund (GEPF)
Martina Macpherson MSCI ESG
Gareth Allison, MSCI Africa
Jako Volschenk, University of Stellenbosch Business School (USB)



Impacts
- ...
- ...

"Graham brings energy, ideas and networks for solutions to complex challenges linking good business practice with good development practice. He is an exceptional facilitator of expert panels and groups of diverse stakeholders." - Manager, international financing facility,international organization, Geneva.




"Graham was extremely helpful in helping get up the curve on our sustainability initiative. Graham was very knowledgeable and insightful and allowed us to quickly get up the curve on Sustainability." - Chief Administrative Officer, Global Real Estate, trillion-dollar New York headquartered global institutional investor.




"[SinCo] brings a balanced and realistic perspective to sustainable investment and the claims related to performance. As a sustainable investment architect, [Graham] provides tangible and practical points of view on the subject without sacrificing the intellectual rigour that is needed to better understand the challenges facing the sector. Furthermore, Graham's enthusiastic and entertaining style makes the challenging subject of finance one worth listening to." - Associate, global social responsibility consultants, France




“Graham brings energy, ideas and networks for solutions to complex challenges linking good business practice with good development practice. he is an exceptional facilitator of expert panels and groups of diverse stakeholders.” - Fund manager, international organization, Geneva, Switzerland.




“Graham has one of the most fantastic international networks that I've ever encountered. His understanding of, and passion for, responsible investment makes him one of the most knowledgeable in the field. I've always been impressed with his delivery and focus.” - Sustainability officer, leading premium retailer, Cape Town, South Africa.




“I have known Graham personally for over 20 years. Graham is one of the most motivated and focused people I know. Graham is committed and trusted in his work and in his relationships. He invests passionate effort in everything he does to attain the best” - global human resources officer, global investment bank, London, UK.




“Graham launched the Boston Professional chapter of Net Impact and his leadership was instrumental in the chapter being awarded the "Rookie Chapter of the Year" award. Graham steps up, takes the lead, and always goes beyond what's required. I'm pleased to endorse him - highly recommended.”  - Professional Net Impact member, Boston, USA.


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