In September 2015, the United Nations introduced its 2030 Agenda for Sustainable Development supported by 17 Sustainable Development Goals (SDGs). The Agenda is a plan of action for people, planet and prosperity adopted by UN General Assembly. In 2017, Kinnevik reviewed how our operations, including our influence through investee companies, can contribute to the SDGs. Below are examples where Kinnevik has identified opportunities and contribute.
Contributing to the UN Sustainable Development Goals
As a signatory of the UN Global Compact, Kinnevik is committed to the promotion of the universal principles on human rights, labour, environment and anti-corruption.
SDG 1 - NO POVERTY
Kinnevik invests in developing countries and thereby contributes to the mobilization of resources and to the development of these countries. BIMA, for example, offers insurance products via mobile phones in developing countries, often to people who have never had insurance before. Bayport provides unsecured credit and other financial services in Africa and Latin America, thereby contributing to financial inclusion.
CASE STUDY: BAYPORT
Bayport provides financial solutions to formally and informally employed individuals in emerging markets. The company’s operations span 9 countries across Africa and Latin America.
As a leader in emerging markets, Bayport offers its customers in Botswana, Colombia, Ghana, Mexico, Mozambique, South Africa, Tanzania, Uganda and Zambia unique and tailored savings, transacting, insurance and credit solutions.
SDG 3 - GOOD HEALTH AND WELL-BEING
Scalable solutions that improve access to, and quality of, healthcare is one of Kinnevik’s focus areas for new investments. In January 2016 Kinnevik made its first investment in UK based digital healthcare service Babylon. Furthermore, in March 2017 Kinnevik invested in Livongo, a US based consumer digital health company focusing on diabetes management, one of the largest and fastest growing chronic conditions globally.
CASE STUDY: BABYLON
Babylon is a digital healthcare service operating in the United Kingdom, Ireland and Rwanda. Combining mobile tech and artificial intelligence with medical expertise, Babylon’s mission is to make healthcare more accessible and affordable for people everywhere.
Almost half of the global population has little access to quality healthcare. Yet irrespective of where we live, most of us have a mobile phone in our pocket. Babylon combines the latest technology with the knowledge and experience of the best doctors to make healthcare simpler, better, and more accessible and affordable for people everywhere.
SDG 5 - GENDER EQUALITY
Kinnevik’s Code of Conduct states that all employees shall have equal opportunities based on competencies, experience and performance, regardless of gender. Kinnevik also encourages all employees to take parental leave.
A key focus area in promoting the GRC Standards in our investee companies includes the adoption and implementation of a Code of Conduct containing provisions on gender equality. The GRC Standards state that investee companies should adopt an antidiscrimination policy. In addition, we actively engage with our investee companies to increase the representation of women on their boards.
Extract from BIMA's Code of Conduct:
"Subjecting someone to negative treatment because of who they are or what they believe, is negative discrimination. In practice, this could mean refusing to hire, work with or promote someone because you have different religious of political beliefs from them, or because they are of a different gender, social status, ethnicity or sexual orientation from you. BIMA considers discrimination of any kind to be unacceptable."
Click below to watch BIMA's Code of Conduct videos, including "Threats to a healthy workplace".
SDG 8 - DECENT WORK AND ECONOMIC GROWTH
According to Kinnevik’s Code of Conduct, Kinnevik shall offer healthy and safe workplaces for all employees at all times. We work actively with our investee companies to implement their own Code of Conduct covering labour rights and safe working environments. Most of the large companies we invest in have implemented a supplier code of conduct that deals with decent work environment.
CASE STUDY: GLOBAL FASHION GROUP
Global Fashion Group (GFG) is an online fashion destination for growth markets. GFG operates with five branded platforms, Lamoda, Dafiti, Zalora,The Iconic, and Namshi, offering over 3,000 international and local brands across 24 countries with a 1.9 billion population, addressing a fashion market estimated to be worth EUR 300bn.
GFG has issued guidelines to its operating entities on the responsible recruitment and employment of migrant labourers. Its Code of Conduct addresses employment practices, working conditions, environmental protection and compliance.
SDG 16 - PEACE, JUSTICE AND STRONG INSTITUTIONS
Kinnevik’s Code of Conduct and GRC Standards states that Kinnevik and its investee companies have a zero tolerance to bribery and other forms of corruption.
Extract from Kinnevik's Code of Conduct:
"Kinnevik’s contractual relationships with third parties are an important element of its success. All business decisions must be made objectively and in Kinnevik’s best interests, based on evaluation of price, conditions, and other relevant factors."
CASE STUDY: BIMA
Milvik offers, under the brand BIMA, affordable and uniquely designed life and health insurance products via mobile phones. BIMA is active in 14 countries across Africa, Asia, Latin America and the Caribbean.
The largest life-insurance provider in Cambodia, BIMA, and the Anti-Corruption Unit (ACU), officially partnered to increase transparency in business practices, signing a memorandum of understanding at ACU headquarters. In a country where corrupt practices make up everyday life, disassembling Cambodia’s culture of corruption is only possible with the cooperation of the private sector.
SDG 17 - PARTNERSHIPS FOR THE GOALS
As a founding partner, Kinnevik is actively engaged in non-profit organisation Reach for Change and their mission to find outstanding social entrepreneurs and help them develop innovations that improve children's lives on a big scale.
REACH FOR CHANGE
Reach for Change is a non-profit organisation founded by Kinnevik to improve children’s lives through social innovations. Reach for Change find and develop Change Leaders – local social entrepreneurs with innovations that solve pressing issues facing children. The entrepreneurs are helped to scale their innovations through seed funding, access to business expertise and networking opportunities. Launched in Sweden in 2010, Reach for Change is now present in 18 countries on three continents, supporting more than 400 entrepreneurs globally.