25 September 2017 | Internet

Argentina, more and more about to send the impact investments

A mixed work group impels the financing and investments of projects with positive effects in the community

When an idea is good, all are aligned behind her to be able to take it to the practice. That is, indeed, which is happening with the investments of impact in Argentina. There are more and more actors working together so that to be able to invest looking for to generate a financial return and simultaneously a social impact and environmental positive is possible in our country.

In fact, the thematic one is taking as much magnitude that will be the center of XV the Annual Day of the Group of Foundations and Companies (GDFE) next the 26 of September.

For more of a year, the financial world (Organization Roman), enterprise (MercadoLibre, Nature and Galicia Bank), the social government (of the city of Buenos Aires), organizations (Avina Foundation), the universities and the I.A.D.B. they roll up together in the Work group of Investment of Impact, because they know that this is what it comes. And nobody wants to remain outside.

€œTo future it is not going to have another way to make the things. We are not going to speak more of common investments or impact, but of which it stops to invest is necessary to consider these three questions: the social thing, environmental and the economic thing. Because if we want to aim at the sustainability of the long-term investment, yes or yes it is important to observe the impact that it has in the communities and the ecosystem. You look it at the side of the risk, of the opportunity or of the sustainability of the business, this is going to be the way to invest€, it explains Mar­a Laura Tinelli, director of Acrux Partners, a consultant of investments of impact with center in South America and one of the promoters of the Work group.

This tendency is confirmed according to the numbers of the Global Impact Investment Network that show that, in the last year, the impact investments grew an annual 16% in the world. Although still they do not represent a considerable percentage of the total of the global investments, esteem that today go up to around the 114,000 million dollars. In this scene, Latin America represents the fourth destiny chosen by international investors: the countries that more are developed are Mexico, Brazil and Colombia. In a second group of countries they are Peru, Uruguay and Argentina.

€œWe had not entered this market before, because last the 12 years were not the given conditions so that investing international they developed businesses here, and the investment of impact is in force by the same rules. Today, that is being reverted. Also it is necessary to say that there were pioneers as Njambre or Equitas, that does many years began this trajectory, but had to scale the Everest in ojotas, since they developed his companies in extremely adverse conditions. There are paradigmatic cases as the one of Njambre and some of his companies under his portfolio, or Interruption, that yes has managed to catch as much national investments as of outside€, Tinelli adds.

What differentiates to the impact investments of philanthropy, is that they look for a financial return necessarily, that must have intention to generate demonstrable social or environmental impact and that impact must be measurable.

In which all the actors agree is in that although in Argentina much advanced, still it lacks the same to do.

€œThe objective of the impact investment is to promote businesses to arrive at the citizen from on foot not only as investor but improving its quality of life. The challenge is how we do so that the free capital improves the quality of life of people€, Constanza Gorleri, Gerente de Sustentabilidad of Galicia Bank express.

And the good news is, that in addition to being a responsible investment, is verified that is a good business. The return and performance average of these investments are of 5.4% for developed markets and 8.6% for emergent. For investments of capital or equity, the return average in impact investments is of 9.5% in developed markets and 15.1% in emergent economies.

In which all the actors agree is in that although in Argentina much advanced, still it lacks the same to do. €œWe think that somebody must develop the funding of all the Metas of the Millenium and that cannot only make it the State, also must it do the private sector and the banking one. For that reason the banks must begin to analyze what new instruments exist that they approach the opportunity of funding of impact€, Gorleri adds.

Argentina has several favorable conditions for the development of this type of investments, as being the great amount of successful examples of viable companies of impact in the country; an enterprising ecosystem in growth and with good bases; a local philanthropic sector that journeys towards the investment with impact and a progressive opening of the Government to promote this type of investments through fiscal incentives.

€œThere are many promising indicators of which this scene could modify for Argentina in the short or medium term: the quality of its entrepreneurs, the recent public policies as the law of entrepreneurs or the creation of the Bottom of Bottoms, and the existence of pioneering, institutional investors and of the deprived scope, that is laying the way and generating cases of investment in impact€, Erika Molina, specialist of the Multilateral Bottom of Investments express (Fomin).

The I.A.D.B., through Fomin, is supporting strongly the fortification of the ecosystem of investment of impact in the country.

€œOne of the most important results of the Group is that this year Argentina obtained a seat in the directory of the Global Steering Group on Impact Investment (GSG II) and we are the only emergent country that is seated in the Directory of the GSG. Also one worked in the necessary modifications of the fiscal and legal frame. What we do is to affect between pairs to create the necessary conditions in order that the capital is aligned behind this type of businesses, and that this new way to analyze the investments permee towards the heart of the financial world, the objective in Argentina is not to put to the investment of impact in €œniche€ later to have to remove it from but comprises of a new way there to make businesses. We work to smooth the way until generating a sufficient accumulation of investors who can invest this way€, Tinelli says.

Another one of the lines in which it is working next to the GCBA is in the launching of a bond, under the modality of a €œbond of social impact€ (TWICE). The impact bonds are instruments that offer a tied rate of return to the fulfillment of an objective that implies a social improvement. In this case, the objective will be to increase the indices of employability of vulnerable young people in the South zone of the city.

How one is going away to be able to invest?

How one is going away to be able to invest in Argentina? Through accelerators, investment funds and bonds of investment of social impact.

How one is going away to be able to invest in Argentina? Through accelerators, investment funds and bonds of investment of social impact. €œRoman group, Free trade and Galicia Bank are the pioneers whom our country in developing these investments has and putting them of all within reach. Also there are at least four bond ideas of social impact that are being developed in subjects as cancer of breast, telemedicine for vulnerable population and another one in education€, adds Tinelli.

The Galicia Bank is one of the actors involved in the elaboration of TWICE and also it is developing other battle areas. €œWe are pioneering in understanding which is our strategy of viability in the bank. And it is to have businesses that have a return, but also an impact in the society and the environment. Our objective is to generate new businesses and tools that have this aim. It begins to have in Argentina impact funds and the bank begins to evaluate to be investing in one of those funds. We already had conversations with the people of Pegasus to invest in the accessible house. In parallel, along with other banks, we created the Commission of Sustainable Finances in Adeba, as a space of interchange to see how put center in the agenda of finances that look for a social and environmental impact€, it summarizes Gorleri.

The Organization Roman also is another key piece of this gear that is about to begin to turn. This family office comes following the subject the last years, and is very interested in being part of this change. €œThere is a vocation to invest a percentage of the patrimony in this type of investments and or we are in conversations to be able to do it of direct or indirect way. Also we are accompanying the work group in Argentina and consolidating the development by a favorable ecosystem€, it counts Fabiana Oliver, person in charge of viability of the Organization Roman.

Why they decided from the organization to become jumbled in the impact investments? €œBecause we think that the resources are finite and the environmental problems and social they demand efficient engineering and this is the best way to do it. Today I believe that the process is in movement. The entrepreneurs, the incubators, the accelerators, the bottoms are generating conversations so that this can happen. And Argentina begins to appear as market of interest at regional level. This year the actors and the group consolidated. Perhaps next year already it is possible to be spoken of formalization and concrete investments€, concludes Oliver.

Where already it is possible to be invested in the country

Arbusta

Product of the Njambre holding company works enabling in technological abilities to vulnerable young people and inserting them within the labor market, by means of the supply of services of testeo of software, diffusion in networks and digitalization from documents to the market. Arbusta demonstrates that an undertaking with social impact can be had and burglaryable. Of each 10 dollars of value of the hour of Arbusta, 50% are going to generate social value translated in qualification and benefits for young people; 35% are operational costs and 15% are gain reinverted in
Arbusta company

Interruption

Founded on 2001 in Argentina and the United States, the company produces, exports and distributes to fruits and organic vegetables to commerces directly retail, fomented the sustainable and responsible consumption, the right commerce and the nutrition biodynamics. Interruption has its own earth and also it works in association with local producers in Argentina, Chile, Peru, Costa Rica, Mexico, Europe and the United States. It uses to more than 320 people and generated more than 33 million dollars in 2016. interrupcion.org

Arqlite

The project, with center in viability, was born two years ago in the United States, and disembarked in Argentina in 2016. It consists of the plastic stone manufacture that is used in the construction. At the moment, the factory of Boulogne generates some 50 tons of stones per month. This year, with capital injection, they look for to buy a new machine that will allow them to arrive at the 200 monthly tons. The raw material that allows them to produce that amount of stones is the nonrecyclable plastic and arrives from great companies that approach their remainders to them. arqlite.rocks

A day to learn on the subject

This year, XV the Annual Day of the GDFE will have as subject: €œTo invigorate the development: Investments of Impact in Argentina€. It will be made tomorrow and it is summoned to the public sector, deprived and to the civil society to debate about the opportunities and the challenges of the impact investments, an alternative within the deprived social investment that is tendency at global level. Some of the disertantes will be Mar­a Laura Tinelli, founder and director of Acrux Partners (the United Kingdom); Mat­as Bendersky, commander of the Unit of Strategic Alliances and Mobilization of Resources of the Inter-American Development Bank (the United States), and Sebasti¡n Welisiejko, director of Global Steering for Group Impact Investment (the United Kingdom), among others.

Information: gdfe@gdfe.org.ar

Source: La Naci³n

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