PROJECTS - ACCESS TO NUTRITION INDEX (ATNI)
Access to Nutrition Index (ATNI) Project 2008 - 2013
About the Project
- ATNI Project aims to tackle "big questions" for example: How can the fight against malnutrition access capital markets in new and innovative ways? Can an investment case be made for sustainable investment by Food & Beverage majors to invest in more nutritious products and to sell them to more consumers at the bottom of the pyramid?
- Commissioned by Global Alliance for Improved Nutrition (GAIN), co-funded by Bill & Melinda Gates Foundation, Wellcome Trust and GAIN, the work was conducted by the ATNI project team supported by consultants [Graham Sinclair of SinCo (2008-2013) and Rachel Crossley of Broadwaters (2010-2013)], in collaboration with partners in research (MSCI ESG), analysis (McKinsey) and communications (APCO).
- Access to Nutrition Index (ATNI) project builds on existing knowledgebases, and adds new local data & analysis of the business, investment and health effects context of malnutrition. It raises awareness of the risks and opportunities for food & beverage sector companies, nutritionists, and investors of malnutrition and nutrition.
- The official website is at www.accesstonutrition.org, twitter @ATNIndex
- In April 2008, SinCo first presented the rating and index concepts as part of an exploration of innovative finance models to expand the investment case for the fight against malnutrition.
- To advise on the design, development and project management of initiative to finance the fight against malnutrition using the mechanism of ratings, rankings and indexes, and to co-write reports on the project, and to peer review project materials.
- To engage institutional investors on the need to explore the risks in their portfolios from food & beverage companies strategies to combat malnutrition - on the spectrum from undernutrition to obesity.
- To review institutional investors' views on viable, alternative, nutrition investment opportunities, as well as to develop the investment case for nutrition, and the ATNI as a tool for users.
- To support the roll-out of ATNI and generate momentum toward influencing the business case for nutrition as strategy for food & beverage companies, and their investors and ratings agencies.
Related SinCo Projects
- Special Projects in Nutrition - Impact of Thematic ESG Indexes
- Istanbul Stock Exchange Sustainability Index Project - 2010 - 2012
- ESG inefficiency of Capital Markets in Emerging Economies Project 2008
- Portfolio of Work
About the Access to Nutrition Index (ATNI)
The Access to Nutrition Index (ATNI) is a new global initiative that evaluates food and beverage manufacturers on their policies, practices, and performance related to obesity and undernutrition. By providing companies with a tool for benchmarking their nutrition practices and serving as an impartial source of information for interested stakeholders, ATNI aims to encourage companies to increase consumer access to nutritious products and responsibly exercise their influence on consumer choice and behavior. ATNI is supported by the Global Alliance for Improved Nutrition, the Bill & Melinda Gates Foundation and the Wellcome Trust.
The official website is at accesstonutrition.org
INVESTOR BRIEFINGS 2013
Investor Briefings Roadshow in New York and Boston USA and London UK
- LONDON Investor briefing Access to Nutrition Index project 12 June 8.15 for 8.30-9.45AM 12 June 2013
- NEW YORK 8 May 8-10AM @ MSCI Headquarters at 7 World Trade Center 250 Greenwich St
- BOSTON 13 May 8-10AM @ MSCI Boston office at 101 Federal St http://www.msci.com/resources/event/industry_event/introducing_the_access_to_nutrition_index_2.html
ATNI has hosted invitation-only investor briefings. We have had some good feedback from the USA launch roadshow hosted by colleagues at MSCI ESG and ATNI in two major investment centres, New York City on 8 May and Boston on 13 May. Investors and ESG investment analysts have been invited to critically review what the team has delivered, and offer their perspective as investors on the 10 year thinking for long term investors in the F&B sector. For more:
1. Follow @ATNIndex and #ATNI for live tweets from @esgarchitect and @SinCoESG.
2. Visit official website www.accesstonutrition.org
3. See backstory on past five years' work on this SinCo project page at http://www.sincosinco.com/project-atni.php
LIVE CHATROOM INTERVIEW
Graham Sinclair Presentation to Thomson Reuters Trading Africa on the launch of the Access to Nutrition Index (ATNI), 19 March 2013 11.30AM SAST ReutersTradingAfrica @TradingAfrica and http://www.linkedin.com/groups/Trading-Africa-4331493.S.217317811
WORLD ECONOMIC FORUM
World Economic Forum: High-Level Breakfast Session on Food & Nutrition Security Davos, Switzerland, January 2013
World Economic Forum: Ensuring Food Security - How are new models of collaboration and innovation driving investment in food and nutrition security? Davos, Switzerland, 26 January 2013
SELECTED ATNI PROJECT UPDATES
UPDATE 25 MAY 2013
A small but material impact of ATNI has been to feature in sell-side analyst firm UBS Global Portfolio Manager's Spotlight by Erika Karp, UBS Head of Global Sector Research in an email on 9 May 2013 that made direct reference to our work on ATNI. "And finally this week, in thinking about DuPont and its Solae unit, and in seeing Coca-Cola Inc. make headlines for committing to greater transparency given mounting criticism regarding its role in the global obesity epidemic, we take a moment to applaud the recent launch of the Access to Nutrition Index (ATNI). In a culmination of the two-year effort sponsored by the Bill & Melinda Gates Foundation, the Wellcome Trust, and the Global Alliance for Improved Nutrition in partnership with MSCI, this new Index can help shed light on the practices of the 25 largest food and beverage companies as they relate to issues including corporate strategy, product formulation, labeling, affordability and distribution. While Danone, Unilever and Nestlé achieved the best scores, the extent to which better nutrition and health is an extraordinarily important input to GDP, and ultimately to corporate profitability, is yet to be fully addressed. We look for continued progress by the world's leading companies as efforts continue to unfold through constructive engagement, and enhanced disclosure and transparency. For more on the ATNI see: http://www.accesstonutrition.org/media/global-access-nutrition-index-launched-0". The email was made available to SinCo by an institutional investor and signatory to the ATNI Project Investor Statement.
UPDATE 12 MARCH 2013
Global index launch via virtual media briefing. See media release and media articles list (below) for coverage.
Access to Nutrition Index Calls on World's Largest Food & Beverage Manufacturers to Address Global Nutrition Challenges. Report reveals nutrition practices of top 25 food and beverage companies
The world's largest food and beverage manufacturers must do more to increase access to nutritious products and positively exercise their influence on consumer choice and behavior, says the first edition of the global Access to Nutrition Index (ATNI) report and rankings, released today. The report assesses the nutrition-related commitments, performance and disclosure practices of 25 of the world's largest food and beverage manufacturers as measured against international guidelines, norms and accepted best practices.
Danone, Unilever and Nestle are the top performers on the ATNI, receiving the highest scores on both the obesity and undernutrition rankings. But even the top performers have significant room for improvement with the highest score being 6.3 on a 10.0 point scale. In addition, both Danone and Nestle have been reported to be in violation of the International Code of Marketing of Breast-milk Substitutes, which affected their scores. The ATNI recommends that both companies, along with other breast-milk substitute manufacturers, take immediate action to ensure full compliance with the International Code.
"Obesity and undernutrition affect billions of people and threaten a global health catastrophe. The Access to Nutrition Index is an urgent call to action for food and beverage manufacturers to integrate improved nutrition into their business strategies. It is not only good for public health; it is a business imperative and key to their long-term sustainability," said Inge Kauer, Executive Director of ATNI.
The three-year initiative was funded by the Global Alliance for Improved Nutrition (GAIN), the Bill & Melinda Gates Foundation and the Wellcome Trust. Development of ATNI was housed at GAIN and involved an extensive, multi-stakeholder process that included input from governments, international organizations, civil society, academia, and investors at every phase of the process. It was also guided by advice from an independent, multi-stakeholder advisory panel and a group of experts on nutrition. Company research and assessments were conducted by MSCI ESG Research using publicly available documents supplemented by additional information requested from each company.
ATNI evaluated companies on:
-- Corporate strategy, management and governance related to nutrition
-- Formulation and delivery of appropriate, affordable and accessible products
-- Positive influence on consumer choice and behavior
"The Access to Nutrition Index offers companies a comprehensive, independent assessment of how well their practices align with competitors in the food and beverage industry and provides benchmarks against which they can improve their approach to nutrition," said Keith Bezanson, chair of the ATNI Independent Advisory Panel. "The aim is to promote a more objective public debate and encourage companies to do more to address nutritional needs of customers."
Thirty-nine investment organizations which collectively manage more than USD 2.6 trillion in assets have signed a statement of support for the Index. The ATNI Investor Statement recognizes health and nutrition as drivers of future growth in the food and beverage sector, and that those manufacturers that are most effective in anticipating and responding to these factors will be better positioned to deliver superior and more sustained financial performance.
Key findings include:
-- The highest scoring companies have clear commitments, detailed policies and measurable targets related to nutrition. They have also charged senior executives with achieving these targets and provided incentives for them to do so.
-- Companies' practices often do not measure up to their commitments. Companies are missing key opportunities to implement their commitments in core business areas such as product formulation, marketing and distribution.
-- Companies are not meaningfully engaged in addressing undernutrition and could better leverage their expertise, skills and scale to help combat this global health challenge.
The report challenges companies to:
-- Develop clear and measurable objectives and targets to improve nutrition. This is critical to ensuring that nutrition considerations become central to companies' core business activities such as product development, pricing, distribution, and marketing.
-- Translate commitments to improve nutrition into action and develop mechanisms to track and monitor progress.
-- Increase public disclosure of nutrition activities. Such disclosure underpins credibility, strengthens any evaluation of their nutrition practices, and heightens accountability.
-- For companies that manufacture breast-milk substitutes, ensure full compliance with the International Code of Marketing of Breast-milk Substitutes in all countries.
Later this year, ATNI will also publish three Spotlight Indexes assessing 10 of the largest food and beverage manufacturers operating in India, Mexico and South Africa, respectively. The ATNI Global Index will be published every two years. To view the full report, please visit http://www.accesstonutrition.org.
UPDATE 5 MARCH 2013
Food security is a major sustainability issue, and F&B supply chains are now front page news - consumers want to know what's in their food. With just a week to the global launch, we are pleased to update you on the design and development of the Access to Nutrition Index (ATNI), a tool to track how major global food & beverage companies are making nutrition a key element of their strategy and operations. SinCo encourages major institutional investors as active owners to join the ATNI signatory statement and increase ATNI's strategic impact. How to support the statement
Investors wishing to support ATNI are requested to undertake the following steps:
• Agree to become a signatory to the investor statement - PDF at http://www.accesstonutrition.org and http://www.sincosinco.com/resources/ATNI%20Investor%20Statement%20FINAL.pdf
• Confirm the signatory representative by name, title, contact details via email, together with a high-resolution logo and your firm’s total assets under management.
The investor statement and signatories will be made publicly available on the ATNI website soon, and/or contact us for more details. based on demand, investor/company roundtables may be hosted leading up to the regional SIF conferences in US, Canada, Europe, and/or Africa, and PRI in Person in October 2013.
[see invitation to investors, below]
UPDATE FEBRUARY 2013
The ATNI Global Index Report has been drafted and is under review. Inge Kauer has joined ATNI as Executive Director with a great deal of experience managing global health and nutrition-related issues and is a welcome addition to our team. A press release announcing her appointment is attached. You can reach Inge at email@example.com. A virtual launch of the ATNI Global Index and release of the ATNI Report is on Tuesday, 12 March 2013
· The ATNI Report and rankings of global food and beverage companies will be posted to the ATNI website, www.accesstonutrition.org at 2pm CET.
· A virtual press conference / webinar will be hosted at 2pm CET by ATNI Executive Director Inge Kauer, supported by the key members of the Independent Advisory Panel and the Expert Group.
· The ATNI Spotlight Indexes (India, Mexico, South Africa) will be released on separate date/s TBD
There are currently 36 signatories to the ATNI Investor Statement, representing over 2.5 trillion USD in AuM. ATNI will post the list of investor signatories on our website beginning at the time of launch.
UPDATE NOVEMBER 2012
• Tackling malnutrition is a big task that requires constructive engagement from and between all stakeholders (including governments, consumers, civil society and others). At least 1 billion suffer from undernutrition, while obesity is a growing global epidemic. The food and beverage industry is large, accounting for 70% of food manufactured. Therefore the F&B sector can make a significant contribution to combating poor nutrition and related diseases.
• The Access to Nutrition Index (ATNI) is a major new global multi-stakeholder initiative that rates the largest food and beverage manufacturers on their nutrition-related policies, practices and performance. ATNI's aims to increase consumers’ access to more nutritious products and to encourage F&B manufacturer companies to exercise their influence on consumer choice in a responsible manner.
• ATNI will have a positive impact on the serious global problems of both undernutrition and obesity by providing F&B manufacturer companies a tool for benchmarking their nutrition practices, for investors in F&B sector to compare and contrast major companies based on company prospects through the lens of their nutrition strategy, and by providing a publicly-available, impartial source of independent analysis of F&B manufacturer companies for stakeholders such as policymakers, regulators, researchers, civil society organizations, and the media.
• ATNI can be traced back to April 2008, and has been in development since 2009. ATNI's development has been jointly funded by the Global Alliance for Improved Nutrition, the Bill & Melinda Gates Foundation and the Wellcome Trust. A project team based at GAIN led the multi-stakeholder, multi-location ATNI project. After launch in early 2013, ATNI will be housed in an institution outside of GAIN.
• ATNI in 2013 will rate a total of 55 of the largest food and beverage manufacturer companies, 25 global F&B majors with a combined revenue of US$ X, and 10 of the largest in each of 3 major growing economies on 3 continents - India, Mexico and South Africa. Each of these countries has a high “double burden” of obesity and undernutrition and a relatively well-developed food and beverage industry.
• Food and beverage manufacturer companies will be assessed on their nutrition governance, formulation and delivery of nutritious products, and influence on consumer choice and behavior. The methodology used in conducting this assessment is based on existing consensus guidelines on nutrition issues. It was developed with the guidance of an international panel of experts in nutrition, the food and beverage industry, and investment. The methodology has been refined based on feedback received from a diverse range of stakeholders through a public online consultation, and is available online at http://www.accesstonutrition.org/uploads/media_items/atni-methodology-development-report-1.original.pdf.
• The ATNI methodology for rating food and beverage manufacturer companies was implemented by MSCI ESG Research, a global provider of environmental, social and governance (ESG) ratings for investors. The multi-step research process conducted from May - November 2012 included secondary and primary research with due diligence on each company based on publicly available information and company responses to analysis.
• The first iteration of ATNI is planned for release in early 2013 through global and local launches supported by an interactive online presence. ATNI aims to release ratings on a regular basis (likely every two years at first) in order to encourage improvements in food and beverage manufacturer companies practices, to track company behaviour change over time, and to respond to new developments and understanding of the global malnutrition challenge.
• Limits on ATNI project resources and project timeline means ATNI has focused on rating the strategic part of the value chain represented by the 55 food and beverage manufacturer companies. ATNI currently does not rate other companies along the food value chain from "farm to fork", such as retailers, restaurants, or agribusinesses. The ATNI leadership will guide future ATNI scope increases to other parts of the food value chain and/or increases in companies covered.
UPDATE AUGUST 2012
• Addressing malnutrition requires constructive engagement from and between all stakeholders (including governments, consumers, civil society and others). Given its size and reach, the food and beverage industry can make a strong contribution to combating poor nutrition and related diseases.
• The Access to Nutrition Index (ATNI) is a major new initiative that rates food and beverage manufacturers on their nutrition-related policies, practices and performance. In so doing, ATNI aims to increase consumers’ access to more nutritious products and to encourage companies to exercise their influence on consumer choice in a responsible manner.
• By providing companies a tool for benchmarking their nutrition practices and by serving as an impartial source of information for interested stakeholders, ATNI will contribute to addressing the serious global problems of both undernutrition and obesity.
• ATNI is jointly funded by the Global Alliance for Improved Nutrition, the Bill & Melinda Gates Foundation and the Wellcome Trust. A project team based at GAIN is currently developing ATNI, which will be housed outside of GAIN after its initial launch.
• ATNI will rate 25 of the largest food and beverage manufacturers in the world and 10 of the largest in each of India, Mexico and South Africa. Each of these countries, which represent different geographies, has a high “double burden” of obesity and undernutrition and a relatively well developed food and beverage industry.
• Companies will be assessed on their nutrition governance, formulation and delivery of nutritious products, and influence on consumer choice and behavior. The methodology used in conducting this assessment is based on existing consensus guidelines. It was developed with the guidance of an international panel of experts in nutrition and the food and beverage industry, and has been refined based on feedback received from a diverse range of stakeholders through a public online consultation.
• Research on companies using this methodology is being conducted by MSCI ESG Research, a leading provider of investment decision support tools.
• The first version of ATNI is tentatively scheduled for release in early 2013. ATNI aims to release ratings on a regular basis (likely every two years at first) in order to track and encourage improvements over time.
• ATNI currently does not rate other companies in the food value chain such as retailers, restaurants, or upstream suppliers. This first version of the Index focuses only on major manufacturers of foods and beverages.
• While ATNI will not serve as the basis of an investment fund, it may be useful to investment firms as a source of data and information on companies’ nutrition practices.
SinCo BACKSTORY TO ATNI
How do you get the food & beverage sector to tackle malnutrition? The ATNI project is a classic example of the hard answers to tough questions that forms the basis of SinCo's work in sustainable investment. SinCo was invited to advise GAIN in April 2008 on strategies to attract new capital in new ways to fight malnutrition. Among the 12 strategies for innovative financing mechanisms that were originally explored, one of the three was the idea to promote an index to present the investment case for malnutrition, and encourage food & beverage companies to adopt long-term strategies that integrated nutrition into their overall business case. The overall ATNI project goal was established in May 2009 with the strategic impact sought from an index as a tool by GAIN and partners the Wellcome Trust and the Bill & Melinda Gates Foundation.
Six billion people live on this planet today. One billion of them suffer from hunger and malnutrition. Another billion suffer from obesity and its associated chronic diseases. The ATNI project goal is to map the food/beverage industry and to create a ranking of global and regional companies active in both industrialized and developing countries, that positively impact access to nutrition for improved health, through reducing malnutrition, including undernutrition and obesity. The positive impact of the ATNI project is an increase in awareness, advocacy and investment in the fight against malnutrition, both overweight/obesity and undernutrition, by companies manufacturing and distributing goods & services in developed and developing markets.
The objective of Phase II 2010 - 2013 was to design and develop a launch-ready, investor-friendly index that ranks global and regional companies on their efforts to improve access to nutrition, with the aim of achieving sustainable changes in their nutrition practices. This phase consists of building an index that will rank food and beverage companies on their efforts to address malnutrition. Syndicated research and stakeholder consultations conducted in the first phase of the ATNI project indicate that a well-structured index is likely to change company nutrition practices and have a positive impact on health outcomes by raising awareness, increasing the quantity and quality of information, measuring performance, encouraging engagement, influencing investment decisions, and highlighting the importance of accessible, good quality products for vulnerable populations.
The project website www.accesstonutrition.org explains the project, the stakeholder engagement, criteria development and the project team. SinCo covers important items for the investment case for fighting malnutrition on Twitter.com from @SinCo_ESG and @esgarchitect using #atni and #atnindex.
Access to Nutrition Index presentation by ATNI Project Manager Chris Walker (GAIN) at 5th GAIN Business Alliance Forum, in Vienna. November 2011.
ATNI METHODOLOGY REPORT
The ATNI Methodology Development Report on 24 August 2012 that describes the development of the methodology to be used to assess food and beverage manufacturers in 2012. The ATNI Methodology Development Report 2012 PDF can be downloaded at http://bit.ly/Rjm0Cf
PUBLIC ADVERTISEMENT FOR RECRUITMENT OF EXECUTIVE DIRECTOR 2012
ATNI is staffing for the future of ATNI beyond the prototype stage. Below is the position description for the ATNI Executive Director role. An advertisement for the position is scheduled to appear in The Economist week 23 April 2012 and in an online executive position website affiliated with the Financial Times. Egon Zehnder has also initiated its search through its networks. The application deadline is 27 May 2012. The role of Executive Director of ATNI represents an exciting opportunity to improve global health by fundamentally helping to shape the nutrition standards and practices of the largest F&B companies globally.
The Executive Director will build on foundational work done to date and lead ATNI into the future, ensuring that its potential and vision are fully realized. He or she will be responsible for the strategic and operational management of ATNI, with a particular emphasis on development of an institutional “home” for the Index, corporate relations and fundraising. With support from appropriate experts, he or she will play a key role in monitoring the impact of ATNI and adapting its scope, methodology or approach as required.
The new nature of this initiative means the successful candidate will require a high level of self-motivation, entrepreneurial drive, decisiveness, conviction, courage, flexibility and creativity. The candidate will have given proof of his ability to provide guidance, leadership and motivation to the team of internal and external collaborators in this mission.
No final decisions have been taken regarding the office location of ATNI. For the right candidate, flexible options may be considered. Due to the international nature of this the role, the successful candidate should also be willing to travel extensively.
The successful candidate will be paid a competitive and attractive salary commensurate with the senior responsibilities and mission-driven, societal aspects of this role.
Egon Zehnder International (Switzerland) Ltd
+41 44 267 69 46
The Economist week 21 April 2012 and exec-appointments.com
ATNI PROJECT OBJECTIVES
The Access to Nutrition Index (ATNI) Project is a groundbreaking initiative that is designing and developing an institution and an index that rates food and beverage companies' performance in providing nutritious products to consumers. ATNI's purpose is to challenge companies to improve their nutrition practices. ATNI aims to increase consumers’ access to more nutritious products and ultimately contribute to addressing the serious global problems of both undernutrition and obesity.
The Access to Nutrition Index will make public a wealth of information about the nutrition practices of many of the world’s largest food and beverage manufacturers. By providing this material in a consistent, comparable format, the ATNI will allow food and beverage companies to benchmark their performance on nutrition against their peers, and it will provide stakeholders, from investors to consumers and policymakers, with information that they can use to inform their decisions and their programs.
Outcomes include being flagged as a positive outcome of the Pacific Health Summit, where the index concept was first discussed in June 2008, and acknowledged at future Pacific Health Summit events [see http://en.wikipedia.org/wiki/Pacific_Health_Summit]. SinCo presented the index concept in April 2008 in Geneva, Switzerland to GAIN among 12 financial and investment concept ideas for further development .
SUSTAINABLE INVESTMENT CASE FOR FIGHTING MALNUTRITION
SinCo presents the sustainable investment case for our clients. On the ATNI project, we developed the investment hypothesis for the sustainable investment case for the Access to Nutrition Index (ATNI) in November 2010, to be further developed by the ATNI project team.
Institutional investors in food & beverage sector companies seek positive risk-adjusted returns over their long-term investment horizon from the added value that the companies’ products and services offer to paying consumers. With sustainability trends having a growing impact on public companies, investors are increasingly demanding a thorough reflection of these issues in their portfolios . But it is unclear in 2010 if/how F&B sector is understanding the opportunities and risks both in the developed and emerging markets from poor nutrition and the bottom-of-the-pyramid as well as the missing middle consumers in frontier and emerging markets.
Investors can make more informed decisions on all the risks and opportunities each company, and the sector as a whole, presented in their portfolio by understanding and integrating into fundamental analysis all environmental, social and governance [ESG] factors. F&B sector firms understand their valuations are driven by, for example, consumer income, product innovation, relative pricing, affordability and raw material procurement . These in turn drive financial metrics such as revenue growth, EBITDA margins and cash utilisation.
But all companies operate in a multi-stakeholder world; and ESG factors such as food security, climate change, social healthfulness, nutrition and price regulation are realities of doing business in the 21st century for F&B companies. 92% of the more than 1,500 executives surveyed said their company was “addressing sustainability in some way.” And because nutrition is such major societal issue across all demographics and income groups, F&B sector companies in the next 10 years must come to grips with where the opportunities and risks lie, knowing that astute investors will seek only those that will succeed in a fiercely competitive sector.
Obesity Is A Real Differentiator
GAIN research in partnership with McKinsey and SinCo has identified serious consideration of obesity as a business issue – and how companies react to its risks – as far back as 2002, where a UBS investment research paper commented that “[w]e believe there are risks associated with obesity that have not yet been factored into share prices.” In the same year, the Wall Street Journal flagged food as the “next tobacco” . Investment analysts have been tracking ESG issues in the F&B sector for 5 years now and obesity out-ranks climate change as a serious threat to “business-as-usual” . Investors are seeking those companies that are anticipating changes in demand and moving to benefit from those before they emerge. In addition, the F&B sector is often seen as a defensive investment theme, but the unmeasured and unmonitored risks [and opportunities] from the obesity epidemic, which has now spread across both developed and developing economies, removes some of this traditional comfort to investors. Obesity is changing the appetite for F&B sector as defensive stocks.
Missing the Opportunity at the Bottom of the Pyramid
Tackling the billions who need more nutritious foods in larger quantities at lower cost is a missing opportunity for investors and the companies they own. Major investors are looking for product innovation and market penetration from leading food companies “Food companies need more focus on product safety and quality in emerging markets…need more bottom-of-the-pyramid [BOP] products.” The leading F&B companies may not be the global majors, they may be the next wave of EM majors. Goldman Sachs research on market capitalization of the broad EM universe may rise to USD37 trillion in 2020, from USD 14 trillion today. This would represent 44% of all market capitalization, up from 31% today. The opportunity in emerging markets is material.
Acting on the Investment Case
Sustainable investment may overcome the dominant investment logic focused on the short term, operating without regard to externalities or systemic economic risks and rewards. Demand is growing. The largest Dutch institutional investor, APG, with around EUR 250 billion describes “looking for new possibilities to invest in such contributions to sustainability.” Positive investment also results in positive economic outcomes: “[I]nvestments in micronutrients have higher returns than those from investments in trade liberalization, in malaria, or in water and sanitation…. No other technology offers as large an opportunity to improve lives at such low cost and in such a short time.” The win-win for investors is that investing in F&B with better nutrition and market exposure to frontier and emerging markets opens the door to consumer goods companies selling to a healthier consuming class of potential customers.
Access to Nutrition Index investor engagement workshop, May 2011 in Cape Town, South Africa
SELECTED ATNI PROJECT EVENTS
Since 2008, SinCo has worked on events designed and produced, or supported by, the ATNI project team to advance the agenda for the ATNI project. Notable events SinCo designed and supported included stakeholder engagement with investors in H2 2009 and H1 2011 making concrete the investor engagement with the project. SinCo has also tracked Investor Stakeholder Engagements - see below.
SinCo has also actively profiled the ATNI project at all relevant Sustainable Investment industry events, in work covering global F&B sector as well as in Mexico, South Africa, and India. To review the events where SinCo was active in raising awareness of ATNI project and engaging companies, click CONFERENCES.
- Panel Discussion: Food and Sustainability - Access and Impacts, Yale University, Burke Auditorium, Kroon Hall, 195 Prospect Street, Friday, October 5th from 2:00-3:15pm (EST) http://new.livestream.com/yale/FoodAndSustainability
- Investor Briefing via webinar to UN-backed Principles for Responsible Investment (PRI) network 27 September 2012 3PM GMT = 4PM SAST = CET
- 'ESG Implications in the Supply Chain: An analysis of the Food and Beverage Sector', event organised by MSCI and hosted by Oddo Securities in Paris, France, 5 April 2012
- Briefing to 50 retirement funds trustees at POA Summer Tutorials, Gold Reef City, Johannesburg, South Africa, 13 Mar 2012
- ‘ESG Investment Implications in the Food and Beverage Sector’ – MSCI ESG Research / UKSIF / GAIN / Investec Seminar in London UK, 28 February 2012, 8.30am – 10.30am GMT http://bit.ly/VuPxZI
- ATNI briefings with Boston Common Asset Management, RW Zevin, MSCI ESG, State Street Global Advisors, Bloomberg ESG, Essex Investments in New York and Boston, December 2011
- Worked example to Investors at ESG USA 2011 Panel 4: Engagement in the USA "Are shareholder rights an oxymoron and is engagement the answer?" chaired by Graham Sinclair, New York City USA, 13 Dec 2011; 12h15-13h00 www.responsible-investor.com/events/events_page/esg_usa_2011/
- Worked example to Investors, Companies and Stakeholders at 2011 JSE SRI Index Results Announcement Keynote Address, Belvedere Room, Durban Country Club, Durban, KZN South Africa, Tuesday, 6 December 2011; 9AM - 12PM http://www.jse.co.za/About-Us/SRI/SRIIndexAnnualReview.aspx
- Worked example to Investors at COP17 Side-event: NBI Responsible Investment COP17 Roundtable sponsored by Sanlam: What are the implications for not complying with responsible investment principles? with WWF South Africa @ Docklands Hotel, Durban, South Africa, Wed, 7 December 2011; 9AM- 2PM http://www.wwf.org.za/what_we_do/sustainable_business/cop17susbus/#events
- Access to Nutrition Index Briefing LIVE webinar hosted by GAIN - RSVP at ATNIproject@gainhealth.org, Mon 21 NOV 2011 3:30PM CET = 9:30AM EST accesstonutrition.org
- Worked example for Integrating ESG into the Investment Process - Opportunities for South Africa, LiveMeeting, 3PM Thu 27 Oct 2011 http://bit.ly/s5ENsE
- Investor stakeholder group adjacent PRI in Person - In-person briefings to CA Cheuvreux, Hermes EOS, Investec Asset Management, Principal Officers Association of South Africa etc, Paris, France, 15 - 16 September 2011
- Worked example to Investors at 2nd IMN African Cup of Investment Management, Cape Town, South Africa, 1-2 Sep 2011
- Worked example to investors at Principal Officers Association (POA) Winter Conference 2011 Plenary Panel 1: Investing in Emerging Markets in Africa: Retirement Funds, Sustainable Investment, ESG, and the Investment Opportunities in the New Economic Growth Path, Johannesburg South Africa, 6 June 2011
- Worked example to investors at Responsible-Investor.com/C5 Sustainable Emerging Markets, 24-25 May 2011, London
- Access to Nutrition Index (ATNI) Project Investor Roundtable in Sandton, South Africa 9 May 2011 12-2PM
- Access to Nutrition Index (ATNI) Project Investor Roundtable, hosted by Futuregrowth, Rondebosch, Cape Town, South Africa on 5 May 2011 12-2PM
- Briefings in New York, London, Geneva to investor stakeholders Spring 2011
- Investor Briefing via webinar to UN-backed Principles for Responsible Investment (PRI) network 31 Mar 2011
- Access to Nutrition Index (ATNI) Project Investor Roundtable hosted by PGGM in Zeist, Netherlands, 28 Feb 2011
- Worked example to investors at Global SIF Roundtable 2011 [Eurosif, UKSIF (United Kingdom), the Social Investment Organization (Canada), Social Investment Forum (USA), in addition to ASrIA (Asia), RIAA (Australia and NZ), and AfricaSIF] hosted at Bloomberg, Manhattan NY, USA, 9-10 March 2011
- Access to Nutrition Index (ATNI) Project Investor Roundtable in London, UK, Fri 10 Dec 2010 12.30 - 2.30pm
- Briefing to International Working Group Pre-Conference: "Sustainability Leadership in Emerging Markets" Side-event at SRI in the Rockies in Tuscon AZ USA, 18 - 21 November 2010
- Worked example to investors at 1st IMN African Cup of Investment Management, Cape Town, South Africa, 9-10 Sep 2010
- Worked example to IMN 9th Scandinavian Institutional Investors Summit in Stockholm, Sweden on 8 June 2009
- Worked example to CSRGeneva Breakfast, salon seminar on Environmental, Social and Corporate Governance (ESG) in Investment in Africa, Wednesday 29 April 2009
- GAIN Nutrition Strategy Conversation in New York hosted by McKinsey & Co, 21 Sep 2010 4 - 5:30pm EST
- Briefing to Net Impact Conference at Cornell University in Ithaca, NY USA November 2009
- ATNI Project Stakeholder Consultations Roadshow, South Africa, Thailand, Europe, USA, September - November 2009
SELECTED NUTRITION CONFERENCES AND EVENTS
- 8th Africa Nutrition Leadership Programme Africa Nutrition Leadership Programme South Africa, 13 - 23 March 2012
- Forum Europe 6th Annual European Nutrition and Lifestyle Conference Central Brussels March 27-28, 2012
- The Atlantic Food Summit The Atlantic USA TBD (tentatively April 2012)
- World Nutrition Rio 2012 World Public Health Nutrition Association (WPHNA) and the Brazilian Association of Collective Health (ABRASCO) April 27-30, 2012
- 2012 Weight of the Nation Conference Centers for Disease Control and Prevention Division of Nutrition, Physical Activity, and Obesity Washington, D.C. May 7-9, 2012
- National Food Policy Conference Consumer Federation of America Washington, D.C. May 17-18, 2012
- CODEX Committee on Nutrition and Foods for Special Dietary Needs Germany November 4-9, 2012
- Summit on Childhood Obesity Partnership for a Healthy America TBD, 2011 summit was November 29-30 in Washington, D.C.
World Economic Forum on Africa (WEF Africa) in Cape Town, South Africa on 4 May 2011, GAIN-hosted nutrition sector side event. Chris Walker (GAIN), Graham Sinclair (SinCo) and Derek Yach (PepsiCo).
ATNI PROJECT PEOPLE
Multi-stakeholder, multi-country projects like this require the input of many different people across a range of skills, experience and functions.
ATNI PROJECT TEAM 2009 - 2013
Executive Director, Access to Nutrition Initiative
Prior to joining ATNI, Mrs. Kauer was a partner at Boer & Croon, a Dutch management consultancy firm, where she provided strategic management and communications counsel to diverse government agencies, global corporations and non-profit organizations. She also worked in senior management within the Dutch and European, Middle Eastern, and African organizations of Porter Novelli, a global, full-service communications agency, and has advised various companies within the food and beverage industry on socially responsible practices and reputational issues.
Manager, Innovative Finance, GAIN
Chris is the project lead for the development of the Access to Nutrition Index. As Manager of GAIN’s Innovative Finance Program, he works on market-based approaches to improving nutrition in developing countries, including the establishment of nutrition-themed investment funds. Prior to joining GAIN, Chris was a Fellow with Acumen Fund, a non-profit social venture capital fund that uses entrepreneurial approaches to solve the problems of global poverty. During his Fellowship, he worked for one of Acumen Fund’s investments, the Dial 1298 for Ambulance Service in Mumbai, India, as the Head of Marketing and Business Development. Chris previously worked on a range of international economic and development policy issues in the U.S. Government. He was the Associate Director of International Relations at the Millennium Challenge Corporation and served as an International Economist at the U.S. Treasury Department and in the Economic Bureau of the U.S. State Department. Chris has a Master in Public Affairs from Princeton University, where he specialized in international development, and a Bachelor of Arts from Williams College. http://ch.linkedin.com/pub/chris-walker/0/9b6/ba0
Senior Associate, Innovative Finance, GAIN
Mike is the program manager for the Access to Nutrition Index. He comes to GAIN on a secondment from McKinsey & Company, where he has advised clients on strategy in the areas of international development, health care finance and philanthropy, as well as the retail sector. He is a physician with 10 years of experience in medical practice, teaching and research as an Assistant Professor at the University of Colorado and as an Assistant Editor for the Journal of Family Practice. In addition to his medical training, Mike has a Master of Public Health from Harvard University.
Senior Program Assistant, Innovative Finance, GAIN
Prior to joining the GAIN team in 2009, Valérie was Board coordinator and administrator for investment funds at Capital International S.A. based in Geneva. Previously she led the communication and marketing department at Sopra Informatique Suisse. Valerie developed her liaison and project management skills for Christie’s jewellery’s auctions in 2000, as well as co-producing the International Road Union Congress. Valérie holds a Master of the Superior School of Management of Geneva after two years studying Law at the University of Neuchâtel in Switzerland. http://ch.linkedin.com/pub/valérie-pillonel/5/3b/102
Craig Courtney is a senior investment finance executive with over 25 years experience, who successfully transitioned into international development in 2005, now applying best practice in financial innovation to improve global development outcomes. He provides strategic leadership in international development/corporate finance, including the origination, incubation and execution of funding processes and structures for private and public sector donors. In 2006 he joined the GAIN and during this time he was responsible for designing and implementing a successful resource mobilization strategy which has attracted more than US$300 million to GAIN through government and private sector foundation contributions. From 2008, he spearheaded the creation and implementation of the Innovative Finance Program (IFP) at GAIN aimed at attracting additional forms of capital (e.g. social investment funds and institutional investors) to new financing modalities such as themed venture capital funds, credit enhanced procurement facilities and index structures like the ATNI. Prior to joining the GAIN management team in Geneva, Craig acquired extensive experience raising capital and providing strategic advisory services to governments, corporations and foundations while working in the investment banking industry in both Asia and Europe. During his investment bank career he worked for both the Hong Kong and Shanghai Banking Corporation (HSBC) and ABN AMRO Rothschild where he was a Managing Director. He has a Masters in Business Administration from Cornell University and a Bachelor’s in Economics/Development Studies and Viticulture/Enology from the University of California, Davis. http://ch.linkedin.com/pub/craig-courtney/2/67b/b37
Rachel Crossley joined the ATNI Project Team in February 2010. She has more than twenty years of experience working at the nexus of sustainability, business and responsible investment. Prior to working with GAIN, she was a Director of two leading UK responsible investment teams within large UK asset managers. In those roles, she was responsible for designing and leading shareholder engagement programmes, on behalf of more than £100 billion of client investments, on a wide range of environmental and social issues, including consumer health and nutrition. She is the author of numerous corporate benchmarks and reports, including several looking at the response of the food and beverage sector to obesity and diet-related chronic diseases, on which ATNI draws. She also has extensive experience in developing, managing and participating in multi-stakeholder initiatives and has held numerous positions on not-for-profit Boards and Committees. Prior to working in the City, Rachel worked at the World Bank in Washington D.C. as an environmental and project economist on a wide range of development projects, and then in New York with an environmental finance company. She has a Masters degree, with Distinction, in Environmental Resources and Policy from the University of London and a Dual Honours Bachelors degree in economics and geography from the University of Sheffield, UK. http://uk.linkedin.com/pub/rachel-crossley/14/845/302
Graham Sinclair has been advising GAIN since 2008 on innovative finance models, including the ideation of the F&B sector index. Graham is Principal at SinCo, the sustainable investment consultants. SinCo designs sustainable investment strategies, policies and indexes for institutional investors, stock exchanges and international organizations. Since 2006, SinCo has delivered for clients on Wall St and international organizations like the IFC, WBCSD and UN, launching the Principles for Responsible Investment Emerging Markets Project in 2007. SinCo is developing index architecture and investor engagement for the Istanbul Stock Exchange Sustainability Index. Before joining KLD in Boston to develop sustainable investment ESG products, including the Business Ethics 100 brand, Graham had an eight year stint in pensions consulting and investment banking. He holds multiple investment industry qualifications and advisory roles, is President of Africa Sustainable Investment Forum [AfricaSIF.org], and lectures at leading business schools. Recent published work includes the IFC-SinCo report on Sustainable Investment in Sub-Saharan Africa 2011, and the Sustainability Indexes chapter for Evolutions in Sustainable Investing (Wiley Finance, 2011). Graham has an MBA from Villanova University and an LL.B from the Howard College School of Law.
ATNI PROJECT STAKEHOLDER ENGAGEMENT - INVESTORS
SinCo has tracked stakeholder engagement, and here lists a selection of events relevant to investors. ATNI Project has used stakeholder engagement to maximize the positive contribution of the best minds and key role-players fighting malnutrition globally, and/or active in the F&B sector as it tackles obesity and undernutrition, two different but connected aspects of malnutrition.
INDEPENDENT ADVISORY PANEL
Provides strategic insights for the ATNI project and proposition for an index.
Keith Bezanson: Chair, Independent Advisory Panel
Francesco Branca: Director,Deparment of Nutrition for Health and Development, World Health Organization
Kelly Brownell: Co-Founder and Director, Rudd Center for Food Policy and Obesity, Yale University
Jean-Pierre Habicht: Vice-Chair, Expert Group and Professor, Nutritional Epidemiology, Emeritus, Cornell University
Nihal Kaviratne CBE: Chairman, AkzoNobel India Limited
Shiriki Kumanyika: Chair, ATNI Expert Group; Professor of Epidemiology, Department of Biostatistics and Epidemiology, Perelman School of Medecine, University of Pennsylvania
Karina Litvack: Head of Governance and Sustainable Investment, F&C Asset Management
John Oliphant: Government Employees Pension Fund, South Africa
Victoria Quinn: Senior Vice President of Programs, Helen Keller International
Juan Rivera: Founding Director, Center for Research in Nutrition and Health, National Institute of Public Health, Mexico
Marie Ruel: Division Director, Poverty, Health and Nutrition, IFPRI
Hannah Kettler: Senior Program Officer, Gates Foundation
David Lynn: Director, Strategic Planning and Policy, Wellcome Trust
Marc Van Ameringen: Executive Director, GAIN
Provides technical input and advice on the malnutrition theme and approaches to rating company approaches and/or products impacting on society and obesity and undernutrition:
Shiriki Kumanyika: Chair, ATNI Expert Group Panel; Professor of Epidemiology, Department of Biostatistics and Epidemiology, Perelman School of Medecine, University of Pennsylvania
Jean-Pierre Habicht: Vice-Chair, Expert Group Member, and Professor, Nutritional Epidemiology, Emeritus, Cornell University
Lindsay H. Allen: Director, USDA ARS Western Human Nutrition Research Center and Research Professor, Department of Nutrition, UC Davis
Diederik Basch: Senior Equity Analyst, Sustainable Asset Management AG
Olive Boles: Chief Executive, Leuka
Lauren Compere: Managing Director, Boston Common Asset Management
Terry T-K Huang: Professor and Chair, Department of Health Promotion, Social & Behavioral Health at University of Nebraska Medical Center
CS Pandav: Professor and Head of the Centre for Community Medecine, All India Institute of Medical Sciences
Mike Rayner: Director of British Heart Foundation Health Promotion Research Group
Marilyn Schorin: Principal, Schorin Strategies
ATNI project's three funders are the Bill & Melinda Gates Foundation, the Wellcome Trust, and the Global Alliance for Improved Nutrition (GAIN). See http://www.accesstonutrition.org/partners
Functional expertise has been delivered into the project at every stage. Important inputs in Phase I covering the Landscape Reports was McKinsey & Company. In Phase II, expert support is delivered by APCO on communications and MSCI ESG on the research of companies undertaken in 2012.
The Access to Nutrition Index (ATNI) Project is designed and developed with an inclusive and transparent approach informed by the world-changing work of its three funders - GAIN, the Bill & Melinda Gates Foundation and the Wellcome Trust.
Global Alliance for Improved Nutrition (GAIN)
Investing in Partnerships to End Malnutrition. The Global Alliance for Improved Nutrition (GAIN) is an alliance driven by the vision of a world without malnutrition. Created in 2002 at a Special Session of the UN General Assembly on Children, GAIN supports public-private partnerships to increase access to the missing nutrients in diets necessary for people, communities and economies to be stronger and healthier. In less than a decade, GAIN has been able to scale its operations by investing in and working alongside more than 600 companies across 36 large-scale collaborations in more than 25 countries, reaching close to 400 million people with nutritionally enhanced food products. Half of the beneficiaries are women and children. GAIN’s goal is to reach more than one billion people with fortified foods that have sustainable nutritional impact. GAIN is a Swiss foundation headquartered in Geneva with a special international status granted by the Swiss government. Its worldwide presence includes an office in Washington D.C. as well as regional and country representatives in Johannesburg, New Delhi, Cairo, Nairobi, Kabul and Shanghai to support its activities. http://www.gainhealth.org/business-alliance/access-nutrition-index
Bill & Melinda Gates Foundation
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people, especially those with the fewest resources, have access to the opportunities they need to succeed in school and life.Based in Seattle, Washington, the foundation is led by CEO Jeff Raikes and Co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.
Wellcome Trust is a global charitable foundation dedicated to achieving extraordinary improvements in human and animal health. It supports the brightest minds in biomedical research and the medical humanities. Its breadth of support includes public engagement, education and the application of research to improve health.
- McKinsey & Company
- McKinsey & Company is a global management consulting firm. McKinsey are advisors to the world's leading businesses, governments, and institutions. Knowledge development occurs within our eighteen industry practices, eight functional practices, and the McKinsey Global Institute. We apply our understanding of market and industry forces to develop long-term macroeconomic perspectives. http://www.mckinsey.com/About_us
- APCO Worldwide
- APCO helps clients anticipate what's next and smartly manage reputational, communication and business opportunities and challenges that affect their organizations, products, services or brands. Global team of more than 550 comes from the environments clients need to reach — we are former elected leaders, journalists, ambassadors, business and nonprofit executives, government officials, market researchers, and communication and Internet experts. Led by seasoned strategists in 30 offices, APCO works to create and implement strategic and tailored solutions designed to advance clients' objectives. http://www.apcoworldwide.com/content/aboutapco/about_apco.aspx
- MSCI Inc.
- Research and analysis for the Access to Nutrition Index has been conducted by MSCI ESG Research.MSCI Inc., headquartered in New York, is a leading provider of investment decision support tools. Our products and services include indices, portfolio risk and performance analytics, and governance tools. MSCI ESG Research products and services provide in-depth research, ratings and analysis of environmental, social and governance-related business practices to companies worldwide. The MSCI ESG Research team consists of more than 130 specialists worldwide, including more than 85 dedicated ESG analysts and researchers. For further information, please visit our web site: http://www.msci.com/products/esg/about_msci_esg_research.html
NOTE ON INDEX, RATING & CRITERIA
The Access to Nutrition Index is currently under development. If/when
it is launched (planned for 2013), ATNI will comprise a Core Index of around 25 of the
world’s largest food and beverage companies, and three Spotlight Indexes
that assess ten of the largest food and beverage companies operating in
India, Mexico and South Africa, respectively. Each of these countries
suffers from the double burden of extensive undernutrition as well as
growing levels of obesity. The ATNI will present the rankings, based upon MSCI ESG food & beverage company research and analysis for the Index.
The Core Index and the three Spotlight Indexes will evaluate and rate companies’ nutrition practices using the same methodology. This methodology is currently being developed by a project team based at GAIN, with advice from an Expert Group comprising a range of experts on the food and beverage industry, nutrition, investments, civil society and ratings and index design. The rating methodology will evaluate companies’ performance against a comprehensive set of criteria and key performance indicators. These will assess companies’ strategies and policies around nutrition as well as their performance in making more affordable, nutritious products available to consumers.
A draft version of the methodology was the subject of a global stakeholder consultation in November 2011, where the criteria and the scoring approach garnered over 800 responses, comments and forms of feedback. Stakeholders scrutinized the methodology by registering for the ATNI Global Stakeholder Network (GSN) via the ATNI home page - accesstonutrition.org. Members of the GSN were invited to take part in the consultation and will receive updates on development of the ATNI project as we proceed.
methodology will build on a wealth of experience gained by other
initiatives in rating companies’ performance on a wide range of
environmental, social and ethical issues. These initiatives include the FTSE4Good, Dow Jones Sustainability Index,
Access to Medicine Index, the Carbon Disclosure Project Leadership Index, and
sustainability indexes such as the MSCI ESG Indices.
Input from the ATNI project team included learnings from the Istanbul Stock Exchange Sustainability Index (ISESI) currently being designed by SinCo in Turkey. The methodology will also draw on a large number of foundational
documents concerning the role of the private sector in nutrition. These
documents include, but are not limited to, international codes and
standards, academic papers, and research by think tanks and investment
institutions on this topic from recent years.
See Graham Sinclair's chapter on sustainability indexes and ESG rankings in Evolutions in Sustainable Investment, Wiley Finance January 2012 http://www.wiley-vch.de/publish/en/books/ISBN978-0-470-88849-0
INTERACTIONS AND MEDIA RELEASES
Global ATNI launch media release embargoed to 2pm CET 12 March 2013
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Invitation to institutional investors 5 March 2013.
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Inge Kauer Named Executive Director of the Access to Nutrition Index, 6 February 2013
ATNI Executive Director Inge Kauer.pdf
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MSCI ESG Research Signs Agreement with GAIN to Provide Analysis for the Access to Nutrition Index. Index ranking is designed to encourage major food and beverage companies to support good nutrition practices worldwide, London – November 3, 2011 http://www.msci.com/resources/pressreleases/MSCI_ESG_Research_GAIN.pdf
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Investment Media coverage of the project and malnutrition issue:
- Food and beverage companies ranked by nutrition by Nanci Hellmich, USA TODAY10:01a.m. EDT March 12, 2013 http://www.usatoday.com/story/news/nation/2013/03/12/access-to-nutrition-index/1979581/
- PRESS RELEASE March 12, 2013, 9:00 a.m. EDT Access to Nutrition Index Calls on World's Largest Food & Beverage Manufacturers to Address Global Nutrition Challenges Marketwatch http://on.mktw.net/Xo3XR7
- Does Money Grow on Trees? CNBC Africa live interview on Investment 360, 31 January 2013 http://www.abndigital.com/page/multimedia/video/investment360/1510775-Does-Money-Grow-on-Trees
- Banishing Malnutrition – The Struggle Continues Jay Naidoo, Huffington Post 13 Jul 2012 www.jaynaidoo.org/banishing-malnutrition-the-struggle-continues/
- Malnutrition: why EMs should care By Anjli Raval, FT beyondbrics http://blogs.ft.com/beyond-brics/2012/02/17/malnutrition-why-ems-should-care/
- Hidden crisis: 1 in 4 children around the globe is malnourished, new report says
Washington Post, By Associated Press, Published: February 15 2012 http://wapo.st/yKBI6Z
- MSCI to collaborate on Access to Nutrition Index By Rachel Alembakis, The Sustainability Report, 4 Nov 2011 http://www.thesustainabilityreport.com.au/msci-to-collaborate-on-access-to-nutrition-index/1370/
- MSCI ESG Research analysis to power GAIN nutrition index By: Jonathan Boyd, InvestmentEurope, 3 Nov 2011 http://bit.ly/1160FlD
- Better Access to Nutrition: A Growing Challenge for Food Producers, 9 Nov 2011 5:08 PM
- MSCI to collaborate on Access to Nutrition Index http://www.exchangetradedfunds.com/helpmedothenews.php
- United Nations Standing Committee on Nutrition Other announcements: Launch of the online consultation on the draft methodology for the Access to Nutrition Index (ATNI) http://www.unscn.org/en/announcements/other_announcements/?id=606
- TBLI Roundtable Day 1 - Part 2 - The Financial Sector and Food: Hedge or Hunger? Wren & Shakespeare, Grange St. Paul's Hotel, London, UK, 10:30 - 11:30 http://tbliconference.com/?entry=681&language=
- Access to Nutrition Index - consultation on methodology live until December 2nd 17 Nov 00:55 http://permalink.gmane.org/gmane.politics.activism.humanrights.invites/10570
- MSCI ESG Research Signs Agreement with GAIN to Provide Analysis for the Access to Nutrition Index, 3 Nov 2011 http://www.ftfnews.com/News-more-4017.html
SELECTED INVESTOR STAKEHOLDER ENGAGEMENTS 2009 - 2013
Investor Briefing - Launch of Access to Nutrition Index (ATNI) - Global Version
MSCI Webinar: Introducing the Access to Nutrition Index - March 26, 2013
MSCI ESG Research, ATNI, Boston Common Asset Management and BNP Paribas Asset Management cordially invite you to a webinar introducing the Access to Nutrition Index. During the session, experts from both organizations will outline challenges as well as innovative ways to improve access to nutrition, present the Index methodology and evaluate relevant risks for investors. The session is hosted by Michelle Lapolla Friedman, Vice President and Manager of MSCI Custom ESG Research. Speakers include:
- Inge Kauer, Executive Director, Access to Nutrition Index
- Véronique Menou, Senior Analyst, MSCI Custom ESG Research
- Lauren Compere, Managing Director, Boston Common Asset Management
- Helena Vines Fiestas, Co-Head of SRI Research, BNP Paribas Asset Management
Register at http://bit.ly/WjpZBu
via webinar to UN-backed Principles for Responsible Investment (PRI) network
27 September 2012 3PM GMT = 4PM SAST = CET
- Felicitas Weber, PRI: Welcome attendees to the webinar and briefly review the technical aspects of the platform (4 min)
- Graham Sinclair, ATNI project
- Karina Litvack F&C Asset Management and Lauren Compere, Boston Common AM: Investor perspectives on nutrition with key messages of support for the ATNI (6min in total)
- ATNI Project Team: Chris Walker, Michael Park, Rachel Crossley, and Graham Sinclair: Present the index methodolog, how investors can become involved, status of company research; scheduled launch Q1 2013 (25 min)
- Q&A and this will also include GAIN presenters asking attendees questions as well (20 min)
- Close the webinar (5 min)
The Access to Nutrition Index (ATNI) seeks to provide, in a consistent, comparable format, the most in-depth assessment to date of major food and beverage companies' nutrition practices, enabling companies to benchmark their performance on nutrition. This webinar will provide an update on the development and scope of ATNI and its upcoming launch in 2013.
Content of webinar:
The Access to Nutrition Index (ATNI) will rate food and beverage manufacturers' nutrition practices, highlighting best practices and innovation. In so doing, ATNI aims to increase consumers' access to more nutritious products and ultimately contribute to addressing the serious global problems of both undernutrition and obesity. This webinar will provide participants with an overview of ATNI and its scope; an update on its development and anticipated launch date; and details on nutrition-related risks and opportunities that investors should consider when investing in and engaging with food and beverage companies. More information on ATNI is available at www.accesstonutrition.org and refer to previous PRI webinar 31 March 2011 4PM GMT.
-Karina Litvack, Head of Governance and Sustainable Investment, F&C Asset Management
-Lauren Compere, Managing Director, Boston Common Asset Management
-ATNI Project Team (Chris Walker, Manager, Innovative Finance, GAIN; Michael Park, Program Manager, ATNI, GAIN; Rachel Crossley, Consultant, ATNI; Graham Sinclair, Consultant, ATNI)
All PRI signatories can access the details through www.unpri.org. As a special concession, PRI will allow investors in emerging markets who are NOT currently PRI signatories and network participants to join this webinar. For more details please email Felicitas Weber - firstname.lastname@example.org.
ATNI Presentation for PRI September 2012 Final.pdf
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ATNI Investor Statement
Posting to PRI Clearinghouse, September 2012
The PRI has now posted the ATNI Investor Statement to its Clearinghouse (please see the attached text) and is accessible to all PRI signatories. Posting to this investor network platform will allow ATNI to broaden our recruitment of signatories for the Statement. Three investors who have been supporting ATNI since 2010 though the Independent Advisory Panel and the Expert Group. These three investors - Government Employees Pension Fund of South Africa, F&C Asset Management, and Boston Common Asset Management - have kindly agreed to "sponsor" the PRI clearinghouse posting in accordance to PRI protocols. Clearinghouse and PRI signatories can access it here: http://intranet.unpri.org/index.php?fuseaction=posts.post&post_id=7930&category_id=1
Created 24th September 2012, Last updated 24th September 2012
Invitation to sign the Access to Nutrition Index Investor Statement
Boston Common Asset Management, F&C Asset Management and the Government
Employee’s Pension Fund of South Africa invite signatories to sign the Access to
Nutrition Index (ATNI) Investor Statement
- Lauren Compere, Boston Common Asset Management
- Adrian Bertrand, Government Employee’s Pension Fund of South Africa
- Karina Litvack, F&C Management Limited
Over the past 2 years, Boston Common Asset Management, F&C Asset Management and the Government Employee’s Pension Fund of South Africa have participated on panels advising the development of the Access to Nutrition Index (ATNI). They have also signed the ATNI Investor Statement.
ATNI will rate the world’s largest food & beverage (F&B) manufacturers on their nutrition policies and practices, with the aim of increasing consumers’ access to more nutritious products and ultimately addressing the global problems of undernutrition and obesity. ATNI is jointly supported by the Global Alliance for Improved Nutrition, the Bill & Melinda Gates Foundation and the Wellcome Trust. For more information, see http://www.accesstonutrition.org.
A growing body of evidence suggests that health and nutrition are important drivers of growth in the F&B sector as well as potentially significant sources of risk. Those F&B manufacturers focused on addressing obesity and undernutrition will be strategically positioned to deliver better financial performance over time. Moreover, obesity, diet-related chronic diseases and undernutrition impose an enormous systemic burden on societies, ranging from reduced worker productivity, including abbreviated working lives, and high healthcare and related costs borne by employers and taxpayers. These in turn can impact investors’ wider portfolios, especially those of universal owners.
The ATNI statement and how it will be used
ATNI’s investor statement outlines the rationale for ATNI, recommendations for F&B manufacturers and investor commitments in support of the initiative. It is relevant to investors in listed equities, private equity and corporate bonds. At this time, ATNI is simply seeking investor support for the initiative. No further commitment, company engagement or resources are required currently. Investors' support will be crucial in encouraging food and beverage manufacturers, as well as other stakeholder groups, to help address the critical and growing problem of poor nutrition and diet-related chronic diseases.
How to support the statement
Investors wishing to support this initiative are requested to undertake the following steps:
• Agree to become a signatory to the investor statement
• Confirm the signatory representative by name, title, contacts
• Send a high-resolution logo and your firm’s total assets under management
The investor statement will be made publicly available on the ATNI website in the coming months and will include the names of investor supporters.
Invitation to join webinar on 27 September
Signatories are invited to join a webinar on 27 September 3pm UK time which will provide an update on the development and scope of ATNI and its upcoming launch in 2013. Further information can be found here. To register, please click here.
Please find attached below a copy of the statement.
Presentations and recordings of a webinar held in March 2011 outlining the development of ATNI, can be found here. http://intranet.unpri.org/index.php?fuseaction=posts.post&post_id=7552&category_id=5
• 2012 ATNI INVESTOR STATEMENT
• Deadline: 31 October
• Lead Sponsor: Boston Common Asset Management, F&C Asset Management, Government Employees Pension Fund of South Africa
• Asset class coverage: Cross-asset class
• Type: Public policy and systemic issues
• Status: Open
• ESG theme(s): Product responsibility, Human rights, Other social issues
2012-09 ATNI post.pdf
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ATNI Investor Statement FINAL.pdf
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Investor Briefing hosted by French SIF [frenchsif.org]
in-person presentation in Paris, France on 12 June 2012 in conjunction with MSCI ESG.
- Slide Presentation by Michael Park (GAIN)
- Investor Signatory Statement (April 2012 version)
Public release of Investor Statement follows in 2012 after about 18 months of revision and negotiation. Names and signatures of investors will be added shortly for public release.
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via webinar to ICCR (Interfaith Center on Corporate Responsibility, http://iccr.org/) network
8 Feb 2012
- Introduction by Lauren Compere, Boston Common Asset Management and ATNI Expert Group (4 min)
- ATNI Project Team: Chris Walker, Rachel Crossley, Michael Park and Graham Sinclair: Present the index / methodology / how investors can become involved etc (approx 25 min)
- Q&A and this will also include GAIN presenters asking attendees questions (10 min)
- Close webinar (5 min)
ATNI Investor Presentation for ICCR Feb 2012.pdf
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via webinar to UN-backed Principles for Responsible Investment (PRI) network
31 Mar 2011 @ 4PM GMT
- Jameela Pedicini, PRI: Welcome attendees to the webinar and briefly review the technical aspects of the platform (4 min)
- Malcolm Gray, Investec and Bruno Bastiti, Hermes EOS: Investor perspectives on nutrition with key messages of support for the ATNI (6min in total)
- ATNI Project Team: Chris Walker, Rachel Crossley, and Graham Sinclair: Present the index/methodology/how investors can become involved etc (approx 25 min)
- Q&A and this will also include GAIN presenters asking attendees questions as well (20 min)
- Close the webinar (5 min)
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GAIN Access to Nutrition Index Roadshow
May 2011 South Africa
The Access to Nutrition Index (ATNI) project cordially invites you to join a closed-door roundtable working lunch with peers in investment to understand the competitive dynamics in the food & beverage (F&B) industry globally and in South Africa, longer-term trends facing F&B companies including nutrition and emerging markets growth, and the investment case for the F&B sector in this decade.
Why join this strategic conversation? This event is the first opportunity to learn directly from the Access to Nutrition Index project team about the work being conducted to design and develop an index in 2011 that rates and ranks F&B manufacturing companies, both global majors such as Unilever, Nestle and Pepsico, as well as leading companies in India, Mexico and South Africa such as Pioneer Foods and Tiger Brands. In the food & beverage sector, consumer demographics and marketplaces are shifting. The global food and beverage market reached USD 3,840 billion in 2010 , growing around 3 percent annually with increasing demand for healthy products and rising disposable incomes in emerging markets such as China, India and Brazil. In the F&B sector, investment analysts now “…view nutrition as a significant opportunity” . ATNI makes the investment case for fighting malnutrition in 2011.
Please join us for this important stakeholder engagement as we seek to understand the investment case for F&B and nutrition, seeking best practices and industry challenges faced by you and your fellow investors.
• Wednesday 5 May 2011 11am-1pm, hosted at Futuregrowth, Westerford
Building, Main Road, Rondebosch
• Monday 9 May 2011 12-2pm, hosted at JSE, Gwen Lane, Sandton
LOGISTICS (subject to change)
• We can host a maximum of 15 delegates. Please respond immediately to
• Parking available onsite. Pre-registration required.
• Lunch will be served. Please advise dietary requirements.
• Kindly RSVP by 2 May 2011 to Valerie Pillonel at email@example.com or by telephone at +41 22 749 1835.
• 30min prior - Registration
• Welcome / 5 min
• The case for food & nutrition – John Oliphant, Adrian Bertrand/GEPF / 5min
• Presentation of ATNI project – Chris Walker, Graham Sinclair + team/ 25 min + 10min Q&A
o Introduction to ATNI Project and funders
o Defining nutrition, malnutrition, undernutrition and the obesity epidemic
o McKinsey review of F&B sector competitive dynamics
o New regulations and emerging opportunities
o Investment case for nutrition strategy
o ATNI approach to ranking F&B sector – global/South Africa
o Next steps – investor statement, investor stakeholder group, index publication in 2011
• Forum discussion – led by Graham Sinclair/ 40min
o Company response
o Investor response
o Nutritionist response
• Takeaways – led by Graham Sinclair/ 10min
• Next steps – Chris Walker/ 10min
GAIN Nutrition Strategy Conversation in New York
Hosted at McKinsey 21st floor at 55 East 52nd St.
21 September 2010
Conversation on nutrition strategy opportunities for the food and beverage industry being sponsored by GAIN providing participants with the opportunity to exchange views and have a lively discussion. It began at 4pm with a few minutes of introductions from GAIN and some brief remarks about trends in the food and beverage industry from McKinsey and Co. Participants included:
Food and Beverage Companies:
Campbell Soup Co.: Dave Stangis, Vice President, CSR
Coca-Cola: Clyde Tuggle, Senior Vice President, Global Public Affairs and Communications
General Mills: Chris Shea, Senior Vice President for External Relations
Mars: Adam Adams
Nestle: Niels Christiansen, Vice President of Public Affairs
Unilever: Miguel Pestana, Vice President of Global External Affairs
AIG Investments: Marlys Appleton
J.P. Morgan Social Finance: Tone Rosingholm
Boston Common Asset Management: Lauren Compere
EKO Asset Management Partners: Jason Scott
MSCI RiskMetrics F&B Analyst: Allison Hornstein
GAIN Access to Nutrition Initiative Project
InvestmentStakeholder Consultation Roadshow 2009
- Net Impact Conference Side-Event, Ithaca NY USA, Friday 13 November 2009
- SRI in the Rockies Side-Event, Tuesday 27 October 7 for 7:15 - 8:25am in room San Xavier, Marriott Starr Pass
- International Congress on Nutrition in Bangkok Side-Event, Room MR 225 Bangkok International Trade & Exhibition Center (BITEC), Wednesday, 7th of October 2009: 7:30 to 8:30am
- GAIN's Invitation-Only Stakeholder Consultation hosted at Investec Asset Management in Cape Town, South Africa on Wednesday 23 September 2009 8-10am
- SOCAP09 Side-Event, San Francisco, CA, USA on 2 September 2009
Bright and early on 2 September you are invited to join the Global Alliance for Improved Nutrition (GAIN) in a conversation on how to encourage and measure best practice by the private sector, especially the food & beverage sector. Our short, structured 60min stakeholder consultation is about putting the voices of nutrition, metrics and investment around a table as part of our understanding the sector for the Access to Nutrition Initiative (ATNI) project, a joint initiative of the Bill & Melinda Gates Foundation, Wellcome Trust and GAIN. We know you are not an expert in nutrition, but your viewpoint is important. We would like to hear your opinion and learn from your perspective as one of 10 stakeholders on the day in our invitation-only meeting on Wednesday 2 Sept 2009, 7 for 7:30-8:30.
This personal invitation comes as we are at the beginning of this journey, seeking to understand and learn from partners like you. To prime the conversation, we prepared a brief 4-pager Background Note, and please see footer with descriptions of GAIN and the ATNI project. The private sector’s role in addressing malnutrition issues has grown in importance in the context of the 2008 global food meltdown, rising healthcare costs, increasing attention to how food is produced and its impact on human health. One billion people are threatened by poor nutrition. We would like to learn from you what works in encouraging best practice by the private sector, how to analyze what firms do well, and looking at metrics for social impact. We have 2 questions as conversation starter:
How can we measure what companies are doing to improve nutrition today, and will do tomorrow? If outsiders rank them, how will food and beverage companies respond to rankings or ratings of their nutrition products and services?
Will you join our conversation? All discussions are confidential and Chatham House rules apply. GAIN will take learnings from the discussion and share a summary note with participants but there will be no direct attribution. Logistics are:
- Date: Wednesday 2 Sept 2009, 7 for 7:30 until 8:30, 60min
- Venue: Hilton Hotel San Francisco Fisherman's Wharf, 2620 Jones Street, San Francisco, California, United States 94133 Tel: 1-415-885-4700 http://www1.hilton.com/en_US/hi/hotel/SFOFWHF-Hilton-San-Francisco-Fisherman-s-Wharf-California/index.do
- RSVP: Chris Walker firstname.lastname@example.org