SMEs can follow a similar roadmap to demonstrate commitment and influence on others in responsible finance, even if they lack the scale to shift the market on their own
London, United Kingdom, 27 May 2020 – RFI Foundation and DDCAP Group™ are excited to jointly announce the release of a case study and podcast showing how DDCAP’s experience demonstrates how SMEs can influence others to adopt responsible finance. Despite lacking the scale of the financial institutions with whom they work, SMEs in responsible finance can leverage their agility as an advantage and benefit from adopting sustainable and responsible practices more quickly than other institutions.
For DDCAP Group™, these actions have deep roots in the history of the company but have become gradually more formalized across its governance structure. Some of the impetus has come through their membership in the RFI Foundation and to fulfill the commitments they have made as a signatory to the Principles for Responsible Investment (PRI) and as an endorser of the Principles for Responsible Banking.
One of the DDCAP’s key strengths is their integration of Sustainable and Responsible Actions (SRA) into their day-to-day business operations. With their example, they offer a roadmap for other SMEs wishing to follow in translating principles into practice. The roadmap outlines how SMEs can start small with top- down initiatives that gain buy-in across key stakeholders in leadership positions.
SMEs that build leadership commitment to responsible finance can open up their efforts to encourage bottom up initiatives and create a more rigorous governance structure review existing and develop new initiatives. Through this process, SMEs can readily embed SRAs across the company to support the creation of a strong culture around common values to create new competitive advantage.
Blake Goud, CEO of the RFI Foundation, commented: “By following the leadership of the amazing examples of leadership in responsible finance across RFI’s network of members, we hope to catalyze activities that support an equitable, inclusive and sustainable economy. All of those who aspire to embody the shared values of responsible finance can establish themselves as market leaders by adopting responsible finance best practices as embodied by the actions of our members.”
Stella Cox CBE, Managing Director of DDCAP Group™, added: “We see a clear need amongst financial services sector SMEs to identify an efficient route to the embodiment of sustainable and responsible practice in their culture, business and operations. Through the release of this case study and podcast, we hope that other SMEs will use the roadmap we have found to develop their own unique approach.”
The case study is available from the RFI Foundation website at www.rfi-foundation.org and the DDCAP Group™ website at www.ddcap.co.uk. The podcast is released as an episode of the “Responsible Finance Podcast” series available on iTunes, GooglePlay, Stitcher and Podbean.
About DDCAP Group™
Headquartered in London, DDCAP Group™ (DDCAP)has pioneered Sharia’a compliant intermediation services, bringing automation to the industry sector through the Group’s ETHOS AFP™, serving clients and counterparties across the globe. DDCAP has also invested, for its own account, in a number of Islamic financial sector firms and initiatives. In 2016, DDCAP was one of the first Islamic financial sector firms to be awarded Principles for Responsible Investment (PRI) Signatory Status. DDCAP is also a Stakeholder Endorser of the UNEP FI Principles for Responsible Banking (PRB) and a member of the RFI Foundation.
Visit us at www.ddcap.co.uk
About RFI Foundation
The RFI Foundation is a non-profit organisation with a mission to identify a neutral, nonpartisan and universal value proposition that encourages convergence of responsible finance practices. RFI evolves Sustainable, Responsible, Impact Investing (SRI), Environmental, Social and Governance (ESG) and the Islamic finance sectors towards a convergence of their shared standards, and engages stakeholders to build the responsible finance industry as a catalyst to support equitable, inclusive and sustainable economic development.
The RFI Foundation works in consultation with our members to enhance and institutionalise the linkages between Islamic finance and other forms of responsible finance including:
Connecting members with resources to support their responsible finance awareness;
Consulting with members on their own responsible finance journeys; and,
Creating new research, tools and other resources to support our members and influence
the direction of the entire responsible finance market. Visit us at www.rfi-foundation.org
Blake Goud, CEO, RFI Foundation
Jennifer Schwalbenberg, Associate Director, Head of Corporate Responsibility, DDCAP Group™