Risk allocation in impact bonds: Fair game?
by Fred Werneck and Tanja Havemann Since our article on Social Impact Bonds (SIB), Clarmondial has had numerous discussions with clients and potential clients about impact bonds. Given that a financial structure needs to ultimately meet the specific program conditions, and local conditions were not suited to a ‘standard’ impact bond, we created and will […]
Microfinance and Environment
Identifying microfinance institutions that set an example As the microfinance industry has grown, there has been an increasing focus on the non-financial impacts that microfinance institutions (MFIs) can have. While the industry developed to tackle socio-economic issues through providing access to finance, its impressive growth led to increasing evaluation of MFIs potential social and environmental […]
Agri-musings Part I: Risk & reductionism in a topsy-turvy world
By Tanja Havemann A number of projects that we are involved with have led to some musings on agriculture, trade, environment and development. We decided to post some of these thoughts, which will be published in three parts: this entry focuses on global trends.
Corporate Social Responsibility in Emerging Markets: Getting it right the first time?
By Naomi Rosenthal The concept of Corporate Social Responsibility (CSR) continues to evolve rapidly, and the majority of global corporations now undertake CSR activities. The term was coined in the 1950s, including in Bowen’s groundbreaking work “Social Responsibility of Businessmen.”[1] Bowen’s work marked a turning point, as it highlighted the fundamental requirement that companies pursue […]
Partnering to promote green & climate bonds
Last week, Clarmondial became a partner to the Climate Bonds Initiative (CBI). With issuances up by ca. 25% from 2012 to 2013, and high rates of over-subscriptions, ‘green bonds’ and ‘climate bonds’ are taking off. This year has also seen the official launch of the voluntary Green Bond Principles (GBP) by a group of major […]
Investing in Agriculture: Jumping Kuznets’ Curve
By Tanja Havemann As a sector, agriculture has increasingly been in the spotlight since the 2008 commodity price spikes[i]. There are many reasons for this increasing interest, not least because global populations are increasing[ii], the rise in urbanisation[iii], change in diets[iv], and limited supply of agricultural land[v]. Added to this, the production goal posts are […]
Joining the Swiss Bluetec Bridge Selection Committee
By Naomi Rosenthal I’m excited to announce that I will be joining the Swiss Bluetec Bridge Selection Committee! Swiss Bluetec Bridge is a platform developed by the Swiss Agency for Development Cooperation (SDC) that provides financial contributions and know-how for improved drinking water around the world.
The Zürich Natural Capital Roundtable
On the evening of the 15th of January 2014, in Zürich, Clarmondial hosted its first event: The Natural Capital Roundtable. This event was intended to initiate dialogue on Natural Capital within the Swiss financial services industry, and to foster collaboration between interested stakeholders. The event also coincided with Clarmondial being designated a Natural Capital Declaration […]
Clarmondial to host Natural Capital event in Zürich
On the 15th of January 2014, Clarmondial will host its first event in Zürich to discuss why and how financial institutions are becoming more aware of risks and opportunities associated with natural capital. The event will feature speakers from UNEP-FI, Swiss Re, Credit Suisse and the Swiss Government.
Social Impact Bonds: An Overview
By Fred Werneck & Tanja Havemann In this article we provide a short description on Social Impact Bonds (SIBs), which are being explored as a new avenue for financing social goods. We first provide a short background to financial instruments and bonds, then describe SIBs and consider their role in promoting social goods. This is […]