Dear Friends of IFB,
If not for the temperatures, June was a hot month in Belgium with multiple elections: regional, national and European. The current coalitions in Belgium (at all levels) are likely to be exchanged for others. Even if ruling parties stay on (as likely in the European Parliament) they may have to moderate their green agendas, reflecting a new balance of power. The good news is that entrepreneurs and financiers will keep doing good, if they chose to do so, if their funders ask this, if their clients offer the opportunities.
In this newsletter, we share more links to our members’ websites, to their latest annual or impact reports. New ESMA guidelines may lead to more careful use of sustainability and other titles, but the increased transparence will also help funders make their decisions.
On 11 June, IFB supported Leuven2030 on an event with many financiers that are open to the 86 investment projects that have been prepared, supporting Leuven in its 2030 ambition to become climate neutral. During debates, many links to social aspects were made. Putting the proper financing in place will still be a big task ahead.
Closer to home, IFB convened next sessions of Working Groups, progressed on our Policy work with Freshfields lawyers, concluded our Webinar series on Impact Measurement and Management and we worked with our European siblings on more collaboration which resulted in a Positioning Paper on Impact Finance.
Summer time may be quieter for some. Please mark the Open Doors Day of the Impact House on Friday 30 August, which – like previous years – should be a day full of impact inspiration by all inhabitants of the Impact House. We hope to see you there.
Not much later, on Tuesday 8 October, we will host the Impact Day for IFB members (and targeted invites) during which we will zoom in on member examples and member collaboration, as they achieve more and better impact.
More personal news is that sometime after the Impact Day in October, I will be leaving IFB. A note will be posted on our website and the search for a new CEO will start soon. I really enjoyed being part of this start-up period of IFB, and I am eager to support IFB until later this year and to have a smooth hand-over with my successor. Until then, I still look forward to continued engaging with many of you, on our different lines of work, new plans and events coming up.
As July just started and many of you will take some time off, I wish you all a very good summer!
Frederik (and IFB Team)
WELCOME TO OUR NEW IFB MEMBERS
IFB welcomes these new members i) Euroclear ii) Helios Foundation iii) Symbiotics and iv) Wealins to be part of our Network!
Euroclear is the newest supporter of IFB. Euroclear is a global provider of Financial Market Infrastructure (FMI) services that specialises in the clearing and settlement of domestic and cross-border securities transactions, as well as the safekeeping and asset servicing of these securities.
Helios Foundation was incorporated in March of 2024. Helios is endowed with funding from (the sale of) the Group Vinçotte, with focus on Belgium. Helios has two main missions, of which (1) to decarbonize the Belgian economy and (2) to improve the effect of work on mental well-being. Helios will start sustaining applied research projects and impact investment in the fields of these two missions. It intends to use different financial products whilst investing in this space.
Symbiotics Netherlands is an investment firm authorized and regulated by the Dutch Authority for the Financial Markets (“AFM”). SYNL is a fully-owned subsidiary of Symbiotics Investments and acts as its placement agent. Their vision is to improve the human capacity to live together on the planet, with a particular focus on socio-economic inclusion and climate resilience. Their mission is to foster sustainable development in emerging and frontier economies by connecting investors to local financial intermediaries, enterprises and projects. Symbiotics Netherlands’ strategy is to be the leading market access platform for impact investing.
WEALINS is a leading life insurance company based in the Grand-Duchy of Luxembourg and has developed true expertise in the design of innovative cross-border life insurance and capitalisation solutions. WEALINS offers to its partners and their clients: an exclusive wealth support, taking into account their current and future needs, its expertise in “Wealth Insurance as a Service”, as well as its operational excellence. The company favors a Human to Human approach and collaborates internationally with reference partners to guarantee them personalised and long-lasting solutions.
IFB Connects🔗 - Leuven2030
On Tuesday, 11 June, IFB with Leuven2030 organised an event ‘Financiering van de Klimaattransitie’. In this event we gather a group of financiers and business partners to explore the different investment and financing options under the Leuven Climate Contract.
Moreover, IFB with some of our members, such as Ethias, Impact Capital, KBC, KBF, Phitrust, Trividend, Triodos Bank, VDK Bank signed the Leuven Climate Contract – an initiative for Leuven to be one of EU’s Climate Neutral Cities.
More about the Climate Contract
IFB Enables🔓- EDFI Statement
IFB, GSG Impact and DAI signed the EDFI Position Statement on EU Sustainable Finance Regulatory Framework. The EU’s sustainable finance regulations are essential to direct capital toward environmentally sustainable economic activities, but that they currently also lead to unintended obstacles for channelling private-sector financing to real-economy firms in LMICs. Through this statement, we outlined specific aspects of the sustainable finance package that could be adapted to enhance its usability and better support economic transformation in LMICs.
IFB Inspires💡- IMM4 Webinar
In the final Impact Measurement and Measurement Webinar series, we had Hugues Pirotte to explore different challenges regarding impact measurement. Watch the recording 👇
With this, IFB has completed the IMM webinar series. More webinar series are coming soon.
ONGOING PROJECTS
The Institutionals Working Group
The working group has met 3 times so far and was happy to extend with a new member this month: BNP Paribas.
The first goal was to get a better understanding of each other’s activities, especially in the field of impact finance.
We agreed that the overall goal of the working group is to mobilize more capital towards impact finance with a specific focus on institutional investors and impact investing.
We want to cooperate and be action oriented generating tangible outcomes.
The second goal is to clearly define which actions the working group wants to focus on.
So far we’ve been working on understanding the key success factors to launch an impact investing activity.
We also started clarifying key definitions and measurement and management practices in the impact investing space.
Finally, we explored some barriers like Solvency 2 and how to overcome them.
The next step is to invite institutional investors from abroad to share their experience as well as explore specific financial instruments focussing on impact investing and tailored to the needs of institutional investors.
Project Lead: Frédéric Madry (frederic.madry@impactfinance.be)
Place-Based Working Group
In June the working group met for the second time and welcomed a new member: KBC
We’ve continued to explore the concept of Place Based Impact Investing and its 5 key principles: intentionality, place focused, community engagement, multi sector collaboration and impact measurement, management and reporting. Based on the input of the different members we’ve also mapped the different initiatives that already exist in Belgium according to the 7 thematics: Housing, Regeneration, Clean Energy, Infrastructure, SME Finance, Health and Natural Capital. It is clear that a lot of initiatives already exist at city and neighbourhood level that show some characteristics of Place Based Impact Investing.
The focus so far was on getting to know each other’s activities and decide where the working group wants to focus on.
It looks like there’s a general agreement that (collective) renovation is a good starting point since it is linked to clean energy, affordable housing, clear health benefits, potential for economic development, poverty alleviation…
Going forward the group wants to identify a few local initiatives, analyse them in depth and see how the IFB working group could support, for instance through the design of blended finance instruments. Therefor international examples will be analysed for instance from the UK where Place Based Impact Investing is already more developed. Ultimately we want to identify good practices able to attract funding where it matters most, supporting a just transition, and explore ways to scale them to maximise their impact.
Project Lead: Frédéric Madry (frederic.madry@impactfinance.be)
Beyond 10 Working Group
IFB started the third working group on Beyond 10. We welcomed a mix of experts from Triodos Bank, BNP Paribas Fortis, KOIS, BVA, Towards Sustainability, and ULB. Together with these expert, IFB aims to clarify the definitions of ‘responsible investing’, ‘sustainable investing’ and ‘impact investing’ crucial to explore the market potential after reaching the first 10% AUM.
Project Lead: Wendy Braeken (wendy@impactfinance.be)
Policy & Regulation Working Group
We are still at the preliminary stage of the working group. This includes researching the legal and business aspects of the regulations and consulting with our members before implementing them in the Belgian setting.
Through the discussion with Freshfields and our sounding board (committee?) IFB has selected several key regulations and legislative actions most of which have been implemented in neighboring countries:
90/10 Funds
Green Budgeting and Green Sovereign Bonds
Retail Impact Finance
Dormant Assets
Since it is still in the preliminary stage, we will need further discussion with different stakeholders and members.
The goal of this project is to increase and improve impact finance through targeted government actions, legislative changes, and fiscal incentives, leveraging government spending and funding to support IFB’s goals.
Project Lead: Soléne Collin (solene@impactfinance.be)
POINT OF VIEW
Christel Dumas, Associate Professor at ICHEC & Advisory Committee Member
“[…] I recognized that harmonizing scientific evidence, data analysis, and ethical principles was the only way to tackle such a monumental challenge. Finance had to be reimagined as a powerful force for environmental and social good. And ESG was not delivering on that promise.
And that’s where IFB comes in. This is a community determined to align profit with purpose and impact. My transition from mainstream finance’s ESG to impact investing allowed me to combine my financial expertise with a holistic, multidisciplinary approach to complex global issues. IFB provides the ideal platform to contribute my knowledge while learning from others.”
IFB IS LOOKING FOR THE NEW IFB CEO
After a successful start, Impact Finance Belgium is looking for the next CEO to scale-up the organisation and impact finance in Belgium. Are you passionate about caring for the people and the planet? Do you have the ambition to mobilize more and more effective impact-driven investment to where it matters most? Do you have the skills, passion, network and drive to lead a catalytic and outcomes-focused organisation to a higher level?
If these questions speak to you, this could be your chance to make impact with IFB.
The CEO will be a senior leader in the Belgian Impact Finance space, with a good understanding of the sector, a broad network, and the ability to leverage senior connections and develop a vision as the organisation evolves. (S)he will be responsible for developing and executing the strategy to achieve IFB’s mission. Together with the team, the CEO is also responsible for securing and deploying the necessary financial and human resources for IFB to remain a sustainable, but growing and vibrant organisation. The CEO position is a full-time position, based in Brussels.
If interested, send your CV and Motivation Letter to Els via els@impactfinance.be.
News from Our Community
Read the latest news and updates from IFB members:
Goodwell Investments is a certified B Corp
B Corps (“Benefit Corporations”) are certified by the non-profit organisation, B Lab, which independently assesses a company’s social and environmental performance, accountability, and transparency. Becoming a B Corp is a celebratory moment of validation for Goodwell Investment’s efforts, reinforcing not only their impact-driven approach to running their own business, but also their ability to affect positive change across a wide range of sectors and regions through the variety of companies we invest in.
SFPIM’s impact participation, the fund ImpaktEU, made its first two impact investments in Belgium: Farm for Good and Mundo Lab.
Farm for Good
Launched in 2020, Farm for Good aims to support and empower farmers in Belgium by fostering local agricultural networks and providing systemic assistance to farmers looking to transition towards more sustainable agricultural practices. Farm for Good focuses on reinvigorating the agricultural sector by revitalizing farming practices as well as creating a more sustainable and rewarding environment for farmers. The organization operates as a cooperative working collaboratively with farmers as well as industrial partners. The cooperative pre-finances the harvests and enables farmers to find commercial outlets at a fair and stable price for their efforts, while helping industrials transition towards local sourcing.
http://www.farmforgood.org/
Mundo Lab :
Mundo-Lab is a unique initiative in ethical investment. Active for the last 15 years, the company is dedicated to creating sustainable and affordable workspaces for organisations committed to social and environmental impact. These work centers grow into hubs of creativity and collaboration where organizations come together to achieve positive societal change.
Today, Mundo-Lab has 6 centers in Belgium, gathering over 220 organizations of societal change.
http://www.mundo-lab.org
Revive Magazine
Revive published its fourth edition of Revive Magazine. In this edition, they focused on Circularity. In the construction sector, circularity goes beyond future-oriented design and construction, it also concerns recycling and reuse of materials and the broader context and environment in which the building is located.
DPAM – Country Sustainability Rankings: the importance of responsible pesticide use and quality education
DPAM has updated the country sustainability rankings for emerging countries and OECD member states. This edition of the rankings focuses on two themes: responsible pesticide use and education, following the eighth edition of the PISA tests. The rankings are drawn from DPAM’s proprietary country model.
Be Part of Crédal’s Campaign
4 millions pour les 40 ans de Crédal 💥 Quoi de mieux comme cadeau d’anniversaire ? Depuis sa création, [nous sommes fiers d’être partenaire de ] cette coopérative de finance éthique [qui] a accordé près de 475 millions d’euros de crédits à plus de 12 000 personnes, associations et entreprises actives dans l’économie sociale et durable 🌱 Leurs activités ne cessent de prendre de l’ampleur et afin de soutenir encore plus de projets à impact, Ils souhaitent étendre notre communauté en vue d’atteindre d’ici fin juin : 4 millions d’euros 👊 Comment ?
▶️ Partagez ce post en masse à vos amis & connaissances (le soutien c’est aussi virtuel 😉)
▶️ Devenez ambassadeur ou ambassadrice en commandant nos affiches de campagne via communication@credal.be
▶️ Envie de devenir coopérateur ou coopératrice ? Souscrivez des parts dès 10 euros.
Carbon Equity – Climate Tech: The $7 trillion in 10 years investment opportunity
Carbon Equity, the leading climate fund investing platform, just published a new whitepaper uncovering the trillion-dollar climate tech investment opportunity. Download it here to find out more. Since March, Carbon Equity raised another €60M, bringing its total assets under management to €250M. This milestone highlights its investors’ understanding of the investment opportunity, combining impact with risk-adjusted returns. Our Portfolio Fund III will remain open until the end of the year.
Impact Expansion – Impact Fund I
The Impact Expansion Team is delighted to announce its oversubscribed final closing at its hard cap of €150m for Impact Expansion Fund I, far above its €120m target size.
This successful fundraising in a currently challenging environment demonstrates, on the one hand, that there is an increasing appetite from the investors’ community to contribute to the emergence of a new growth model respectful of people and planet. And on the other hand, it indicates that investors are slowly understanding that performance and impact go hand in hand, which is validated by the strong track record of the Impact Expansion team in that regard.
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| ### NEWS FROM NABS AND PARTNERS |
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| Read the latest news and updates from the GSG, NABs and partners. - Impact Investing Institute published ‘Place-based impact investing: Emerging impact and insights’. - The Baromètre de la finance solidaire FAIR – La Croix has been released. - The new report on ‘The Overview of the French Impact Investment Market 2023’ by GSGImpact and Fair France has been published. - New report on Corporate Impact Investing: Impact investing can be a bridge between impact and business. Impact Europe’s new report on Corporate Impact Investing shows what the bridge is made of and shares the experience of crossing it. Download the report - Impact Investor, IPE and IPE Real Assets released a special publication on ‘Impact Investing and the Just Transition’ |
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