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Church of Sweden

PRI reporting framework 2020

You are in Indirect - Inclusive Finance » Contractual agreements and mandate design

Contractual agreements and mandate design

IFI 03. Including issues referred to in the PIIF

03.1. When agreeing contracts and designing mandates with investment managers, in the process, indicate if you consider including the following issues referred to in the PIIF:

Actively supporting retail providers to innovate and expand the range of financial services to low-income people (Principle 1)

Describe and indicate how.

The principles are the foundation for what we want to achieve with these investments. The church was one of the founders of Oikocredit in the early 70s, aiming to reach the most vulnerable people, often in remote areas, with financial services. This is still our mission, also with SEB, and we share the same goal.

Integration of client protection in investment policies and practices (Principle 2)

Describe and indicate how.

See above.

Treating investees fairly with appropriate financing needs that meets demand, clear and balanced contracts and fair processes for resolving disputes (Principle 3)

Describe and indicate how.

See above.

The inclusion of ESG issues in investment policies and reporting (Principle 4)

Describe and indicate how.

See above.

Active promotion of transparency in all aspects (Principle 5)

Striving for a balanced long-term social and financial risk-adjusted return that recognises the interests of clients, retail providers and investors (Principle 6)

Collaborating to set harmonised investor standards that support the further development of inclusive finance (Principle 7)

Describe and indicate how.

A new fund has been created to increase impact in the real economy, and increase collaboration between different types of investors.

03.2. Additional information. [Optional]

We do this in our due diligence, but it is not formally written in the contracts. But we have only SEB, as I said, who has a partnership with Symbiotics. I don't have the details, but I assume this is part of the DNA of Symbiotics and why we invest in microfinance.