Dear friends,
We have passed the midpoint of the year under circumstances which are not as favourable as we might wish. The Covid-19 pandemic is still here, conditioning social and economic activities, and the situation seems slated to last at least for the forthcoming months.
However, even though the juncture has its share of difficulties, we at Suma Capital are very satisfied with the major advances we’ve achieved this first half of the year in our drive for responsible investment by supporting companies’ growth and financing sustainable infrastructures with a social-environmental impact.
We have recently published our 2020 Impact Report regarding our SC Efficiency & Environment Fund II, through whose investments we have managed to reach milestones like a 7.9 million tonne reduction in CO2 during the projects’ lifetime, equivalent to the CO2 that would be absorbed by planting 44,000 hectares of pine trees; a 3.2M GJ reduction in the consumption of fossil fuels, equivalent to the annual use of 26,000 European citizens; and a 20% savings in energy consumption thanks to the energy efficiency solutions implemented.
We at Suma Capital will continue to focus on investing in projects revolving around the energy transition and the circular economy and responding to the necessary struggle against climate change with new investments. Consequently, we are already working to launch the new SC Climate Fund III in the second half of the year, this one geared at investments in sustainable infrastructures with an impact on Southern Europe.
Likewise, I also want to emphasise our participation in the Green Deal Comission during this past half-year, an initiative of the Cercle d’Economia, and our adherence to Joe Biden’s petition for the United States to restore its climate ambitions and be a strategic ally of Europe in the drive for the green recovery via our belonging to Europe’s Green Recovery Alliance.
Both initiatives are good examples of our commitment to support better environmental policies, which in the first half of the year were also joined by our participation in the UNPRI and GRESB yet another year and our constant effort to implement the best policies in governance and social matters in both Suma Capital and the companies in which we hold shares, as outlined in our recently published ESG 2020 Report.
In terms of our investments geared at supporting companies’ growth, first we want to thank all our investors for placing their trust in us and share with all of you our satisfaction with the growth of the SC Growth Fund II, which focuses on supporting Spanish SMEs; having reached 160 million euros, it is now 30% higher than its initial target size.
Regarding this fund, I particularly want to stress our recent investment in A Contracorriente Films —the fund’s third investment after Implika Educación and NPAW— to promote its growth and make the company one of the leading independent distributors of audiovisual contents in Europe, aligning us with our commitment to the cultural sector.
Likewise, during this half-year now coming to a close, we have kept up our drive to be closer than ever to our investors by occasionally informing them of the evolution of our investments through periodic virtual meetings, convinced that now more than ever, transparency and communication are the cornerstones upon which the trust we are seeking should be built.
Yet none of this would have been possible without the commitment of the team of professionals at Suma Capital, so I am pleased to share with you that in this past half-year our staff has continued to grow with the hires of Griselda Garde at the head of the company’s legal affairs and Natalia Medianero to enhance our capital growth activities.
Finally, we want to let you know that this summer, thanks to all of you, we have decided to expand and redesign our offices, in the same location as ever, with the goal of responding to your trust and our growth. After summer, we would be thrilled to welcome you here.
On behalf of the entire team at Suma Capital, I would like to once again express our most heartfelt appreciation for your support and convey to you our desire to keep adding future commitments, guided by the steadfast purpose of pooling our efforts to build the future we believe in, seeking to ensure that people’s wellbeing and environmental sustainability are the inspiration to continue growing together, now and forever.
Enrique Tombas
President
