Maria Håkansson joins SSFC Advisory Board

News   •   Sep 21, 2018 06:20 GMT

Stockholm Sustainable Finance Centre (SSFC), whose mission is to support financial actors to shift capital to implement the global sustainability agenda, has announced its Advisory Board. Joining the Board are high-level executives from banks, pension funds, and experts on sustainable finance, among them Maria Håkansson, CEO at Swedfund.

Swedfund continues investing in renewable energy

Press Releases   •   Aug 08, 2018 06:44 GMT

Swedfund continues investing in renewable energy projects by committing to invest USD 15 million in shares of JCM Power. JCM develops, builds and operates solar- and wind power plants in developing countries.

​Swedfund and Agenda 2030

News   •   Jul 19, 2018 09:46 GMT

Agenda 2030 is based on the premise that all aspects of sustainable development are interdependent and cannot be solved separately. This is what we want to describe using the equation: Everyone’s effort is required. Swedfund’s contribution is to build sustainable businesses where they are most needed.

Equation 2030 – Capital that achieves the goals

News   •   Jun 26, 2018 11:29 GMT

To Swedfund, Agenda 2030 is a global equation. Our role in the equation is to finance and develop sustainable businesses in the world’s poorest countries. In Swedfund’s Integrated Report 2017 we report our results and our work towards the Global Goals.

Swedfund expands renewable energy portfolio with USD 15 million commitment to blended finance

Press Releases   •   Jun 25, 2018 06:59 GMT

​Sweden’s Development Finance Institution, Swedfund, continues to expand its portfolio within renewable energy by investing USD 15 million in the fund Climate Investor One. The fund develops, builds and operates renewable energy projects in developing countries. The fund’s pioneering blended finance structure seeks to leverage private capital to impact investments in emerging markets.

Swedfund’s Integrated Report wins international award

Press Releases   •   Jun 07, 2018 07:21 GMT

Swedfund has been awarded the RI Award for Best Report by an Asset Owner: medium & small funds, for their Integrated Report at the RI Reporting Awards 2018, presented at RI Europe on Tuesday 5th June. The prize is given to institutional investment companies with transparent reporting. Swedfund was chosen among 2,500 world-wide reports.

Swedwatch report highlights important issues

News   •   May 25, 2018 07:50 GMT

Swedwatch has presented an updated briefing report on the human rights impacts of Buchanan Renewables Fuel in Liberia in conjunction with Vattenfall and Swedfund’s exit of the project in 2012.

Fredrik Wijkander, Senior Investment Manager at Swedfund, comments:

‘Swedfund’s objective is to reduce poverty by investing in sustainable businesses in the world’s poorest countries, a crucial mission if we are to reach the Sustainable Development Goals of Agenda 2030. We continuously improve our processes, and we value the research made by Swedwatch, highlighting important issues. We regret the suffering of those affected and we have since taken measures to further improve our investment and exit procedures including human rights due diligence in high risk situations, as well as developing our sustainability work along with the United Nations Guiding Principles on Business and Human Rights.’

Vattenfall in partnership with Swedfund invested in the renewable energy company Buchanan Renewables Fuel in Liberia in 2010. Swedfund invested in a minority holding (10%) in partnership with Vattenfall (20%), conditional upon that Vattenfall would acquire all of Swedfund’s shares if and when Vattenfall would exit the project, which they did in 2012.

The investment was a means to secure the supply of biomass, a project which had the prerequisite of becoming a sustainable business, creating employment and reducing poverty in Liberia. The investment was also a means to contribute towards renewing the rubber industry, which the Liberian economy is heavily dependant upon. However, since the production of biomass was considerably lower than expected, the project did not develop according to plan. Vattenfall made the decision to terminate its investment in May 2012. Swedfund’s shares were subsequently sold to Vattenfall, in line with the partnership agreement.

Human rights are essential in all of Swedfund’s commitments. Between 2013 and 2014 Swedfund launched a new business model which rests on three equally important pillars; impact on society, sustainability and financial viability. Swedfund has also implemented a thorough ESG-model and continuously evaluates and follows-up on ESG aspects in the portfolio. By contractually binding ESG, we can systematically influence our holdings to put more weight on social and environmental matters. Our new business model applies to all investments made since 2013. Read more about our business model here.

The Swedish Agency for Public Management conducted a report earlier this year on how Swedfund, among the government and state-owned Swedish companies, comply with the UN Guiding Principles on Business and Human Rights, UNGP. The Agency notes that Swedfund’s human rights analysis since 2015 goes beyond only looking at social terms and working conditions. Overall the Agency recognizes that Swedfund since 2014 has a more complex approach to impact on society and sustainability. Report in Swedish here.

In order to further develop Swedfund’s human rights work and to ensure that Swedfund complies with UNGP and Sweden’s National Plan for Human Rights, Swedfund in 2016 performed a gap analysis on it’s human rights processes in relation to UNGP. The gap analysis among others focused on the evaluation and management of human rights risks and impact in connection to new and existing investments and exits. We continuosly work with evaluating and developing our work in relation to all our three pillars, including human rights.

Swedfund Fact Sheet Human Rights

Swedwatch report

Swedwatch has presented an updated briefing report on the human rights impacts of Buchanan Renewables Fuel in Liberia in conjunction with Vattenfall and Swedfund’s exit of the project in 2012.

Read more »

Swedfund invests in TLG Credit Opportunities Fund

Press Releases   •   May 02, 2018 09:03 GMT

​Swedfund invests USD 10 million to enable small and medium-sized enterprises, SMEs, in Sub-Saharan Africa to access growth capital and thereby expand their operations. The investment is in TLG Credit Opportunities Fund (COF).

Swedfund invests in Kenyan bank with SME focus

Press Releases   •   Apr 26, 2018 07:30 GMT

​The Swedish Development Finance Institution, Swedfund, invests 5 million USD in the Kenyan bank Victoria Commercial Bank, VCB. The loan is directed at the bank’s small and medium-sized enterprises, SMEs, and is part of Swedfund’s mission to reduce poverty through sustainable business.

Swedish investment in renewable electricity in Sub-Saharan Africa

Press Releases   •   Apr 13, 2018 07:00 GMT

​Sweden’s development finance institution Swedfund is investing SEK 126 million in the Evolution II Fund, which is focused on clean energy supply and resource efficiency in Sub-Saharan Africa. The investment will be used to develop, build and run power stations producing renewable energy. Other investors include the African Development Bank and several European development finance institutions.

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About Swedfund

Reducing poverty through sustainable business

Swedfund is the Swedish government’s Development Finance Institution, contributing through sustainable investment to economic and environmental development as well as a positive impact to society in the world poorest countries.

Address

  • Swedfund
  • Drottninggatan 92-94
  • P.O. Box 3286, SE-10365 Stockholm
  • Sweden

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