DigitalCFO Newsroom | 21 April 2022
East Ventures, today launched its inaugural report named East Ventures – Sustainability Report 2022.
PHOTO: PRNewswire Asia
East Ventures, a pioneering and leading sector-agnostic venture capital firm in Indonesia, today launched its inaugural report named East Ventures – Sustainability Report 2022. This report lines out robust progress and a range of initiatives among the firm and its ecosystem in engaging the Environmental, Social, and Governance (ESG) frameworks and practices in achieving a more sustainable and inclusive future.
With more than a decade of experience as an investor, East Ventures has worked with and witnessed hundreds of entrepreneurs who have changed the direction of Southeast Asia’s economy with innovative technologies to reach overall society’s betterment. The firm has also recorded more than US$ 86 billion of annualized Gross Merchandise Value (GMV) and US$ 6.7 billion of follow-on funding, which further strengthens its leading position to provide more impacts and further embark on the progress toward sustainability.
This report summarizes the extensive experience of East Ventures and its ecosystem as well as serves as a playbook that provides a better understanding and guidelines for all the players in moving toward sustainability. East Ventures’ continuous commitment toward sustainable practices has been reflected by strategic initiatives and progress made, including being the first venture capital in Indonesia to sign the Principles of Responsible Investment (PRI) supported by the United Nations (UN), possessing 52% woman employees by merit and 33% woman investing partners, etc. East Ventures’ ecosystem has contributed to 16 SGDs Goals, and 25% of its active portfolio has at least one female founder.
Through this report, East Ventures also announces the establishment of its ESG Leadership Team to manage its responsible and sustainable investment. This robust governance structure has and will continue to articulate responsibilities and oversee ESG compliance, policies, investment processes, and standards within East Ventures. Not only focusing on the betterment of its internal policies, but East Ventures is also constantly promoting the same application across its portfolio and ecosystem.
This report presents the Sustainable Investment Framework, which provides guidelines for maximizing impact creation opportunities and mitigating ESG risks in the potential transactions across the investment lifecycle. This sustainable investment strategy sits within a two-pronged approach of East Ventures: Doing Good and Avoiding Harm. Moreover, the foundation of East Ventures’ sustainable investment strategy is its impact statement to “enable high potential companies to grow sustainable market propositions, thereby empowering a more inclusive society and the region’s economy to prosper”.
“We are glad to launch this report as part of our commitments towards a more sustainable and inclusive future. We believe digital connectivity overlaid with sustainability, where it serves as the foundation and a key propeller for economic growth and improvement of livelihoods in the markets. Sustainability has been the core of everything that we do, and we believe this report will transcend and provide applicable guidelines for all relevant parties in their daily practices,” said Avina Sugiarto, Venture Partner of East Ventures.
East Ventures believes there are three main outcomes achieved through investment, where digitalization serves as a strong foundation to accelerate the progress, starting with financial inclusion, better education and healthcare, and a sustainable and livable environment. Therefore, East Ventures has been active in creating and supporting some initiatives in these areas; some of the highlights include Indonesia PASTI BISA (IDPB) in overcoming the health crisis, East Ventures – Digital Competitiveness Index (EV-DCI) in boosting the digital transformation, as well as Women with Impact Forum in driving a more equal and inclusive society. Moreover, East Ventures believes that continuous digitalization, initiatives, and partnerships are required to promote a green, efficient, and sustainable future.
“East Ventures will ensure the creation and partnership of the right initiatives to support our progress towards sustainable development, which ranges from the digital transformation and how the investment we made should bring impacts for the society and environment as a whole,” Avina added.
The full report of East Ventures – Sustainability Report 2022 can be downloaded at www.east.vc/sustainability-report