In September 2015, the UN 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 2018, 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 prin-ciples 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. Read more about diversity and equality in Kinnevik’s team on page 11 in the Annual Report.
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 anti-discrimination 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 12 – RESPONSIBLE CONSUMPTION AND PRODUCTION
For Kinnevik, providing consumer choice includes providing sustainable alternatives. By investing in Karma, Kinnevik contributes to a more sustainable approach to consumption and production of food. Karma’s mission is to ensure that great food is never wasted and to lead the shift towards a more sustainable society.
CASE STUDY: KARMA
Karma is a marketplace that connects consumers with local restaurants and grocery stores that have surplus food. By letting customers buy unsold food at a discount, Karma is reducing food waste.
Each year, approximately 1/3 of all the food produced ends up rotting. By giving restaurants, cafes and grocery stores the opportunity to sell their surplus food on Karma’s app, over 284 tonnes of food have been rescued. Since launch, Karma has attracted 500,000 app users.
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 the non-profit organisation Reach for Change and their mission to find outstand-ing social entrepreneurs and help them develop innovations that improve children’s lives on a big scale. Read more about Reach For Change and their work in the case study.
REACH FOR CHANGE
Reach for Change is a non-profit organisation founded by Kinnevik to improve children’s lives through social in-novations. Reach for Change finds and develops Change Leaders – local social entrepreneurs with innovations that solve pressing issues facing children.
Reach For Change’s entrepreneurs are helped to scale their in-novations 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.