News in Brief 15 May 2017


ProCredit Holding AG & Co. KGaA (ProCredit Holding) is now a member of the Social Stock Exchange. The membership was granted upon ratification of the impact report written by the company and approved for this purpose by the independent Admissions Panel of the Social Stock Exchange. ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for small and medium enterprises (SMEs) and whose operational focus is on South Eastern and Eastern Europe. The ProCredit group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (comprising the investment vehicles for ProCredit staff), the Dutch DOEN Participaties BV, KfW and the IFC (part of the World Bank Group). KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank.


Shortly before well-organised computer hackers held to ransom the security systems of the NHS IT and numerous others across a wide swathe of Europe, the EU Parliament published a brief paper on blockchain, the sophisticated technology that will have been used by those companies who paid the ransom, demanded in the virtual currency Bitcoins. The report concludes that “for the moment there is little appetite for intervention at European level.”


In Australia the federal government said it will invest in social impact projects to help reduce homelessness among young people. From 2017-18, the government will invest A$10.2 million over 10 years to trial the use of social impact investments aimed at improving housing and welfare outcomes for young people at risk of homelessness. This project complements broader SII (social impact investment) funding where the government is providing $20.2 million over 10 years (from 2017-18) to encourage the continued development of the SII market in areas other than homelessness. Beneficiaries of these investments would include young people aged under-25 and experiencing one or more risk factors around homelessness. These would include state and territory government priority groups such as young people exiting the out-of-home care system or institutions such as juvenile detention.


Lord Victor Adebowale, chair of Social Enterprise UK (SEUK), has challenged corporates to spend more with social enterprises. Speaking in the wings of the House of Commons he said: “This is going be core to your business survival over the next couple of years. It doesn’t matter who wins the next election, you are all going to be more answerable to the communities that you serve than you have ever been and we (SEUK) are here to help you do that.” Adebowale urged companies to spend more with social enterprises, saying: “£1 billion is not enough, you’re going to have to do a lot better than that. This is just the start, it’s proof of concept, this is not the end of the journey by any means.”


The world’s fifth-biggest grocery chain by sales, Tesco in the UK, has pledged to cut its greenhouse gas emissions in line with the stringent demands of the Paris Climate Accord. The company says it will cut its emissions in line with the pledged to keeping global warming to 1.5°C above pre-industrial times.



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