Making a Difference Together: Elevator Ventures Joins the PRI Community
We are proud to announce that we have become an official signatory to the Principles for Responsible Investment supported by the United Nations (UN PRI).
PRI is a network of international investors working together to put into practice a set of six voluntary principles that provide a framework for responsible investment. The principles cover a range of issues, including environmental, social, and governance (ESG) factors, and aim to create a sustainable global financial system.
As a venture capital fund, we have seen the impact that technology and innovation can have on the world. However, we also recognize the responsibility that comes with investing in these companies. We believe these practices can encourage businesses to think about their influence on the environment, society, and governance issues. At Elevator Ventures, we continue to leverage our expertise and engage with our founders to raise awareness of the best ESG practices and take concrete initiatives to improve such practices and achieve the PRI principles.
Our motivation to become PRI Signatories
By becoming a PRI signatory and joining more than 5,000 other organisations globally, we want to demonstrate our commitment towards responsible investing by aligning our investment strategy and providing support to our portfolio companies in their sustainable transformation. For us, it is extremely important to also bring the subject of sustainable finance to Central and Eastern Europe. This is achieved through continuous knowledge-sharing and collaboration with our portfolio companies to integrate sustainability from day one, expand with the proper processes in place, and even lead the charge by example by making early-stage investments. Furthermore, we can leverage the local network of ESG experts provided by RBI Group to unlock new opportunities for society and businesses.
It is not just a moral imperative, but also a smart investment strategy. Companies that prioritize ESG factors tend to have better long-term performance, lower risk, and more sustainable business models. According to a study by Harvard Business Review, companies with high ESG ratings outperformed their peers in terms of return on equity. We keep striving to integrate sustainable investments in our fund, as evidenced by our most recent investments in the startup’s Bob W and SESAMm, which support environmentally friendly practices. Bob W is the first international climate-neutral hospitality provider, it offers climate-neutral hospitality in all its apartments across Europe. They use renewable energy, furniture made from sustainable materials and locally sourced eco-friendly toiletries.
Our latest portfolio company, SESAMm, on the other hand, engages in socially responsible practices while offering vital information regarding ESG controversies for more than five million public and private companies. “We believe that supporting sustainable companies like Bob W. and SESAMm is not only good for the planet, but also for the financial success of our investments. We understand sustainability to be the corporates responsibility to pursue long-term economic success that is in harmony with the environment and society”
What it means for us to engage in responsible investment
As one of the first responsible bankers, Friedrich Wilhelm Raiffeisen showed that a sustainably managed circulation of money can create value and be meaningful for everyone involved. Social and responsible thinking and actions formed the basis of this strategy. The Raiffeisen values — social solidarity, self-help, and sustainability — have therefore always been the guiding principles for doing business at Raiffeisen and are a basis for our activities at Elevator Ventures.
We understand that responsible investing requires a commitment to transparency and accountability. That’s why we have developed a comprehensive ESG framework that we use to evaluate potential investments and monitor the performance of our portfolio companies. We will continuously track our progress and the progress of our portfolio companies on CO2 emissions, diversity, and social impact. We will also engage in continuous personnel development and awareness of ESG relevant topics.
In conclusion, we are looking forward to improving ourselves and embarking on this new journey, while also extending our support to our portfolio companies. Additionally, by joining this initiative, we will have the chance to collaborate with other participants, exchange best practices, and utilize available resources to foster responsible investment practices.