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ANIMA lays the basis for a strategy for Socially Responsible Investment in the Mediterranean

How can we reinforce the impact of investment on sustainable development in the Mediterranean? ANIMA provides answers and courses of action by publishing a study on “Socially Responsible Investment: What Strategy for the Mediterranean?” as part of the Invest in Med project, supported by the European Commission.

Investment is up until now hardly sustainable in the Mediterranean and does not produce all the effects hoped for in economic terms (growth, productivity) but also for society (creation of jobs and skills) and environment (conservation of natural resources). The study provides an outlook of the impacts of investment for the three cornerstones of sustainable development and then presents the stakes, strategies and tools for the four main categories of stakeholders of Corporate Social Responsibility (CSR) and Socially Responsible Investment (SRI) in the Mediterranean: the public authorities, the business support organisations, companies and financial players.

The study also proposes three series of recommendations intended for public bodies. They are accompanied by courses of action which could be implemented by ANIMA, its institutional partners and the networks of intermediate operators who work together within the MedAlliance.

1) Creating a clear and shared framework for CSR and SRI

• Creating or adapting standardised tools: adopting regulatory instruments and benchmarks based upon international references and adapted to the realities of SMEs and VSMs.

Action 1: creating a MED targeted regional working group with the aim of proposing a regional CSR and SRI benchmark, which could subsequently be proposed to each country.

• Ensuring consistent investment policies, economic development strategies and social and environmental policies
• Leading by example at State level by adopting exemplary procedures notably for sustainable public procurement.
• Targeting, as a priority, the more or less effective projects and sectors in SRI, in relation to job creation and local added value, for example.

Action 2: evaluating the SRI dimension of projects and sectors, notably by using the data from the ANIMA-MIPO Observatory of announcements of investment and partnership in the Mediterranean

2) Encouraging and accompanying the private sector in its approach to CSR and SRI

• Preferring an incentive approach: proposing advantageous measures for the companies which have adopted CSR and SRI strategies.
• Assisting companies in their CSR and SRI formalities: creating information and self-assessment tools and proposing personalised technical support systems.

Action 3: creating an on-line CSR and SRI resource centre for Mediterranean businesses

• Raising awareness among companies and financial players: promoting best practices and company success stories, raising awareness and training employees and students, introducing specific measures for financial players.

Action 4: creating a Mediterranean SRI prize, using the assessment methodology implemented in the context of Action 2.

3) Implementing an eco-system favourable to CSR and SRI

• Developing infrastructure facilities to host “sustainable” companies: sustainable industrial zones, incubators and nurseries for companies dedicated to positive impact projects.
• Strengthening business support organisations in the CSR and SRI domains: implementing actions of information, awareness raising and training, including in the fields of communication and negotiation.

Action 5: developing knowledge sharing as regards CSR and SRI between BSOs in the Euromed region by means of training sessions, an electronic information hub and the exchange of best practices.

At a time when the MED countries are experiencing a historic opportunity of economic take off but also of democratic change, ANIMA wishes to pursue its action plan investment which will better contribute to the economic, social and environment development of the region.

Download the study here.

Contacts
ANIMA, T. +33(0)4 96 11 67 60
Lauriane Ammouche (Communication) : lauriane.ammouche@anima.coop
Zoé Luçon and Jeanne Lapujade (SRI) : zoe.lucon@anima.coop; jeanne.lapujade@anima.coop