DDCAP Group™ were proud to sponsor the Women in Islamic and Ethical Finance Forum webinar held on 15th July 2020. Introduced by Samina Akram, Managing Director, Samak Ethical Finance Ltd, the session was moderated by Dr. Hatim Tahir, PhD, FCISI, Director, Islamic Finance Group, Deloitte & Touche Middle East. Stella Cox CBE, Managing Director and Jennifer Schwalbenberg, Associate Director and Head of Corporate Responsibility DDCAP Group™ spoke and responded to moderator and audience questions during the webinar.
Stella Cox CBE, Managing Director commented on DDCAP’s own adoption of Sustainable and Responsible Actions:
“For us it’s a way of doing business that focuses on delivering social and environmental outcomes as well as financial results. It’s about how we make our commitment and how we take actions that will support the development of a more sustainable, equitable and prosperous world. In our view that now has even greater meaning in light of the disparities and difficulties that the global pandemic has exposed.”
Jennifer Schwalbenberg, Associate Director and Head of Corporate Responsibility, responded to questioning about whether some entities pay lip service to principles and conventions but retrench from any action that fails to pursue profit maximisation:
“There is always that danger, and there are likely those who do just that. Then there are others who believe in the values they have committed to but are more hesitant to make significant changes for fear of how it could impact a going concern. But perfect shouldn’t be the enemy of good. The risk of bad players shouldn’t be the reason to stop any entity, large or small, embarking upon their own journey and, as a first mover, the advantage is in having time to learn and work out how business models can be realigned for profitability and impact.”
DDCAP offered the following words of encouragement to SMEs wanting to share values but concerned that their size negates their impact:
“Many smaller firms are discouraged by their own perception that their size means they will not make a difference when, in fact, SMEs may find that they are in an advantageous position to show the way forward in sustainable and responsible practices even if they face other challenges of scale. SMEs are the backbone of national economies. In 2019 they accounted for over 99pct of the UK business population and 3/5ths of private sector employment. This pattern repeats across the world.
As a financial services sector intermediary DDCAP recognises that we may not have the power that a market mover has to effect change unilaterally, but we can be an industry influencer through our demonstration of values, expressions of duty and considered thought leadership”
Our sincere thanks to Dr. Hatim Tahir for moderating this engaging and interactive session and to Samina Akram and the WIEFF team for organising this event.