RFI Foundation and DDCAP Groupare announced 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.