UK-based environmental, social and governance (ESG) research provider EIRIS has announced a new partnership with Brazilian social and sustainable finance specialist SITAWI, in a move which will strengthen its presence in Latin America.
SITAWI — which means “to develop and flourish” in Swahili – was founded in 2008 to support high impact social projects.
EIRIS already has a similar partnership in Mexico City with SRI firm Ecovalores, in which it supplies information on the Mexican market. In 2011, the firms were selected by Mexico’s stock exchange Bolsa Mexicana de Valores, to launch a sustainability index.
Interest in ESG across Latin America is fast developing, with the emergence of a new Latin SIF to address the continent. The group, which has been developing over the past three years, has been supported by Sustainalytics, EIRIS and other well-known ESG providers.
The new deal with SITAWI will expand EIRIS’ presence in the south of Latin America, especially Brazil, a leader in the ESG market in the continent.Gustovo Pimentel, managing director, research & advisory at SITAWI, chairs the PRI Brazil Network’s ESG integration working group and the only Latin American representative on the UN PRI board is Marcel Barros, a board member at Brazilian pension fund Previ.
SITAWI, based in Rio de Janeiro, manages philanthropic funds for large donors, develops financial solutions to social enterprises and advises financial institutions and institutional investors on integrating ESG. It operates across Latin America and is also in the process of looking at piloting social impact bonds and green bonds in the region.
Commenting on the partnership, EIRIS Deputy CEO Stephen Hine, said: “Partnering with regional experts SITAWI enriches the research we offer investors on Brazilian and Latin American companies, and strategically bolsters EIRIS’ presence in region.”
Pimentel from SITAWI added: “Investors will now have access to ESG research on Brazilian and Latin American companies of the greatest breadth, depth and with local insight.” SITAWI will contribute to EIRIS’ coverage of Brazilian and Latin American companies and offer the whole suite of EIRIS products in Brazil.