Annual Report 2017

The report is part of our transparency policy and reflects the
aspects of greater relevance to the organization and its stakeholders.

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ABOUT THIS REPORT

SITAWI presents its 9th Annual Report, written in accordance to the Global Reporting Initiative Standards (GRI Standards), in the Core option. The report is part of our transparency policy and reflects the aspects of greater relevance to the organization and its stakeholders. It considers SITAWI’s activities from January 1st to December 31st 2017 and includes 100% of the operations of the Social Finance and Sustainable Finance programs.

In May 2018, we completed 10 years of operations and will celebrate with even more impact and innovation. This report will present the challenges and achievements of 2017 and also a reflection on the last decade of Finance for Good. The information presented in this report was drafted by the entire team and monitored by the CEO and the Director of the Sustainable Finance program. Additionally, it was extracted from internal control documents and data provided by our partner organizations and the impact businesses we support.

There were no significant changes during the period covered by the report in relation to the organization's size, structure, membership, ownership or supply chain. The audited financial statements are available on our website and the management statements are at the end of this report. The electronic version of this document is available on our website in PDF, and should be seen as a continuity of the information provided in the previous Annual Report. If you wish to comment on or request more information about our Annual Report, please contact us at contact@sitawi.net.

In order to reinforce the concept of Finan-ce for Good and increase commitment to the mobilization of capital for a positive social and environmental impact, SITAWI started the Sustainable Finance Program in 2013, through the association with the projects and consultants led by Gustavo Pimentel.

Since then, the program has been diversifying its portfolio and consolidating itself as the lar-gest sustainable finance practice in Brazil and Latin America. By incorporating environmental, social and governance (ESG) issues into the decision making process of investors, the financial sector and large companies, we believe it is possible to change the cost of capital in the productive sector: money becomes cheaper, abundant and patient to those with a posi-tive impact; and more expensive, scarce and impatient for those with negative impact.

The program works with development banks, commercial banks, pension funds, private equity, asset managers, insurance companies, philanthropic foundations, NGOs, associa-tions, think tanks and large companies to push forward the integration of social and environmental issues into investment decisions. The business model is primarily commercial, with direct payments by clients for consulting and research services. In some cases, we are com-pensated by technical cooperation resources (eg IDB) or philanthropic foundations (eg Mott Foundation), where the beneficiaries of the projects are not the paying agencies.

A decade ago, SITAWI developed the first Brazilian Social and Environmental Revolving Fund, supporting social organizations and impact entrepreneurs through Social and Environmental Loans.

Over time, this pioneering Social Finance initiative has grown and flourished in the country. Accompanying the evolution of the field in Brazil and in the world, where more and more actors began to take an interest in Social Finance, SITAWI diversified its activities with different proposals and partners, always seeking to broaden its reach and mobilize more cap-ital for positive social and environmental impact.

In 2012, the first Philanthropic Fund was created, a model that allowed the co-investment of philanthropic capital of multiple actors in common strate-gies and the incubation and support for pioneering social initiatives in Brazil.

Since then, we have created more than 20 Philanthropic Funds, with several partners and supported causes. We were pioneers in the development and structuring of Social Impact Bonds (SIBs) in Brazil. In 2015, through a consultancy for the Interamerican Development Bank, we analyzed the technical feasibility of this mechanism in two thematic areas and, since then, we have been working on re-search and development of new contract opportunities and structuring the first CIS in the health sector Brazil.

In 2017, the Territorial Programs Coordination area was established, which, in addition to the financial management of large projects, allows the coordination of several partners, funders and implementing organizations for an specific social and/or environmental ob-jective. This was a major milestone in SITAWI's operations, both from the point of view of the volume of capital, and in terms of organizational development and social and en-vironmental impact. 

FINANCE FOR GOOD

SITAWI Finance for Good is a pioneer organization in the development of financial solutions for the social sector and in the assessment of the social and environmental performance of companies and sectors. It is the first Latin American organization to provide external reviews for green bonds.

Check out: www.sitawi.net