Holding ourselves to account

At Snowball, by design we take a radically different approach from the investment sector and are transparent with our learnings and experience optimising investments for impact, risk and return. We have recently taken a step further in how we hold ourselves to account. After inviting leading impact advisor The Good Economy to carry out an independent verification of our impact processes, we decided to publish their report which is a detailed account of what we do well and where we can improve. These, in brief, are their findings.

Where we are strong:

• We are a mission-driven manager. We practise what we preach and invest all our assets for impact.
• Our investment product is catalytic by design, and we embed impact considerations throughout the investment process.
• We are a leader in our field, with a comprehensive and rigorously applied impact framework. We have developed innovative approaches to impact management, including a practical tool to measure the impact of a multi-asset class portfolio.
• We are an engaged and knowledgeable investor that frequently challenges managers to improve their systems and outcomes. The depth and frequency of our approach to manager oversight are unique.
• We play a prominent role in field building, sharing our practices and perspectives about what good looks like whilst supporting new managers, products and themes.
• We are committed to transparency, and our willingness to share our learnings can be a model for others in the sector
• We systematically elevate impact considerations to an equal footing with financial ones
• We are a certified B-Corp, we achieved net zero in 2020/21, and we have offset all historic emissions since our formation
• We have strong internal governance and oversight of impact, receiving a top 5% score for governance and an award for ‘Best for The World 2021 and 2022’ from B Corp.
• We are determined to maintain and improve our performance across multiple aspects of diversity, equity and inclusion. Half of our board directors and 67% of our team are women.
  

Where we can improve:

• We could track the success of our engagement activities more thoroughly to assess whether dialogue with managers leads to improved impact practices.
• We could provide evidence of progress as we strive to change behaviour in capital markets.
• We could leverage our track record in transparency by introducing regular external oversight of our impact performance, ultimately becoming a signatory of the Operating Principles for Impact Management.
• While we have a robust system for assessing impact risk and we are prepared to take remedial action where necessary, we could become better at mitigating the risk of negative impacts.
  

According to The Good Economy, these are also all areas where the impact investing industry as a whole needs to improve. That offers Snowball the potential to continue to play a pioneering role through designing new impact measurement and management solutions and publicly sharing good practice to demonstrate the future of better investing in action today.

If you have any thoughts on the article or would like to learn more about Snowball, please do be in touch on hello@snowball.im