Category Archives: News

News

ESG: MINIMAL RISK, MAXIMUM REWARD?

August 11, 2021 rachel_eaton Leave a comment

Environmental, Social and Governance (ESG)-led investments have been thrust into the limelight over the last year. ESG-focused funds and impact investments delivered strong yields and gained additional investors, despite a broader pandemic-induced sell off. Conscious capitalism has shifted the focus for investment away from shareholders to the wider stakeholder community, reshaping the investment agenda towards one of sustainability and long-term gain.

Is ESG enough?

Progressive policy is fuelling momentum for this trend, encouraging the private sector to Build Back Better and helping set legal precedents. With the race to achieve carbon neutrality at the top of many business agendas, leaders now have a better understanding of the scale of the challenge ahead. More businesses are now stepping up and addressing pressing issues like climate change, but is ESG enough to deliver the changes necessary?

By 2025, a predicted third of global assets under management will have an ESG-led mandate. Should the forecast USD 53 trillion of institutional capital be allocated with ESG considerations, this will represent more than a doubling of such investment in the decade from 2016. Yet based on current investment and global indicators, social inequality is still on the rise – especially in developing markets – while the effects of climate change are worsening.

Throwing more money at these problems isn’t enough on its own – there has to be a more considered approach. Standardising ESG measurements, for example, means capital can be deployed more effectively and efficiently. Innovative financing models, like green and social bonds, are building resilience in emerging markets – often worst hit by the neglect of global capital allocation.

Lessons from Africa

In Africa, every dollar of impact capital has a more profound effect than in the developed world. Access to social goods is limited. Over half of the continent does not have a reliable electricity connection, while around only a fifth of people use the internet and secondary school enrolment is a mere 43 per cent. This lays bare the level of development required, especially at a time when equality between the developed and developing world grows wider as a consequence of Covid-19.

The continent is ahead of the curve when it comes to ESG and impact investing, being rooted in development finance. With adequate funding, it is well positioned to allocate capital to close the divide. Gong client, Old Mutual Alternative Investments (OMAI), is one of the continent’s leaders in this regard. Its investments are guided by the UN’s SDGs and assessed according to 90 separate impact measurements. As such, they are improving access to affordable education and housing, while also addressing gender and racial inequality.

OMAI’s approach acknowledges the nuances of the investment environment, while shaping how best to generate social impact returns as well as above-market financial performance. This is evident in the infrastructure arm of OMAI’s business – African Infrastructure Investment Managers (AIIM). The resilience of its portfolio, including renewable energy, has been proven through the Covid-19 pandemic.

Renewable energy plants stood strong and digital infrastructure remained robust as demand for their services increased. According to the UNDP, for every dollar spent on resilience-building infrastructure, like renewable energy, the economic return is fourfold. So where the conversation of Building Back Better in Europe and America is centred on climate change, in Africa it is equally about development.

The developed world’s perspective

Across the world, the coronavirus pandemic has realigned investing priorities and funds are allocating a larger proportion of their portfolios to generating impact. Over a fifth of retail investors in the UK plan to dedicate capital to impact generation. That proportion is even larger among people under 35, as they are more willing to trade financial returns for social ones. 

Meanwhile, we have witnessed the formation of multiple financial alliances across the institutional investment space over the last five years, driven by the same goal: to achieve carbon neutrality. Our infographic demonstrates how this movement – which most recently has been given additional fuel by the UN-backed Race to Zero campaign – has gained momentum over time.

In the UK, we continue to see the trend for institutional investment being deployed responsibly among pension funds. The Make My Money Matter campaign, which asks pension funds to halve the emissions of portfolios by 2030, has united over 50 employers, including Gong, in tackling the climate crisis.

ESG really is starting to make a difference. Growing awareness, a generational shift and mounting investor pressure combined with more systematic carbon reporting is accelerating the move to improved global sustainability. As we move away from greenwashing and ESG as window-dressing, the demonstrable benefits of a concerted commitment to sustainability are reasons for optimism.

News

Top four challenges when running a virtual event – and how to solve them

July 22, 2021 rachel_eaton Leave a comment

Whether it’s a product launch, media briefing or industry-wide festival, devising and executing a memorable event is often a key element of an effective communications campaign.

But events can be fraught occasions, with unforeseen circumstances around every corner. Comms professionals need to be able to think on their feet and adapt quickly to a changing environment. When Covid-19 hit, with its successive lockdowns and restrictions on gatherings, event organisers faced a new test altogether.

This was certainly the case for Lloyd’s of London’s flagship insurance diversity and inclusion festival, Dive In. A Gong client since its inception in 2015, the event has grown from being hosted in just one country with 1,762 attendees to 32 countries and 10,296 participants in 2019.

Having gone from strength to strength, Dive In organisers were determined that Covid-19 would not spell the end of the festival’s success. The event was moved over to a virtual platform in 2020, resulting in its greatest success to date – running across six continents with over 140 events in 35 countries, hosting 30,153 participants. It taught us a few things about delivering virtual events. Here are some answers to the most common four challenges.

Challenge 1: How do I engage my audience at a virtual event or on a virtual platform?

Speakers or moderators are accustomed to the immediate feedback provided by the audience – notably from body language. Without that luxury on a virtual platform, here are some ways to trigger engagement:

Use virtual tools, such as asking for questions, comments, and polls that are linked to a graphic that displays on the screen
Engage audiences and promote active discussions by using digital whiteboards
Supercharge events with rivalry by carefully curating your speakers – for example, if an event is focused on a specific topic, invite those from competing industries to provide a more charged debate.

Challenge 2: How do I make sure people will attend my virtual event or meeting?

This is the fear of every event organiser – after all the hard work setting up the logistics, and inviting attendees, will the registrants actually turn up? Our top tips:

Make sure that once they have signed up to your virtual event, attendees are invited to instantly place it in their diary by clicking through a calendar link.
Send a reminder email before the event and as it begins – and a link to watch it after the event, to ensure maximum views.
Link your event to topical days or weeks of the year to keep them at the front of registrants’ minds. If you are running an international event, think about local awareness days that might be applicable too. Use social media assets to boost visibility of the link between the awareness day and your event.

Challenge 3: What is the best format for a virtual event?

There is always a place for a panel discussion with a well-curated set of guests and a good moderator (like a top journalist). However, if any format is overdone, attendees can be easily disengaged, especially if the panel format does not attract high-profile speakers. Consider the following:

A short video with a knowledgeable speaker talking over and/or after the images are shown.
A TED-style speech, filmed with distance between the speaker and the virtual audience.
Take to social media and consider an Instagram Live event to keep things more personal and intimate.

Challenge 4: How do I make my virtual event memorable?

Making a virtual event memorable is the holy grail for all event organisers. Here are our top tips:

Embrace Fun
- Even if you are running a B2B event, it is still important to create a sense of fun to boost attendance and visibility. Can you create a visually engaging video? Take time to consider your opening speaker or moderator – are they suitably interesting?

Harness Cultural Assets
- Broaden the scope of your event by taking it into the real world too. Adding in cultural assets can open up an event to audiences outside of your initial key target area and attract a broader visibility. For example, consider a cultural interlude during virtual events by hiring notable or local artists to perform spoken word, or commission a topical poem around your event core themes.
- Offer pre-event giveaways with a reminder of the timings of your event to keep it front of mind.

Remember – you need to monitor and report on attendee numbers and engagement at all of your events to understand the impact they have had.

A checklist for planning a virtual event

News

Carbon briefing 101

July 1, 2021 rachel_eaton Leave a comment

As a sustainability-focused business, we are often reminded that ours is an industry heavily laden with acronyms and terminology.

With now just four months to go until the start of COP26, we have created an introductory guide to all things carbon, including a glossary of terms, a brief history to COP26, an introduction to some of the major players, interesting climate change facts, and some small challenges that we can all take on in the fight against climate change.

News

Gong appointed to promote SEED’s eco-inclusive start-up awards

June 28, 2021 rachel_eaton Leave a comment

Gong has been appointed on a project basis to provide local and international PR and communications support for SEED’s biennial awards, The SEED Awards for Entrepreneurship in Sustainable Development.

Designed to identify the most innovative, locally-led, eco-inclusive, start-up enterprises in developing and emerging economies, the SEED Awards honour and help scale enterprises in Zambia, Malawi, Botswana, Indonesia, India, Ghana, Uganda, South Africa and Thailand.

As part of the project, Gong will promote the Awards winners, working with SEED and its partners to highlight the winning projects and the positive social, economic and ecological impact they have on their local communities.

SEED was founded at the 2002 World Summit on Sustainable Development in Johannesburg by UNEP, UNDP and IUCN as a global partnership for action on sustainable development and the green economy. To learn more, please visit: www.seed.uno.

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Navigating Financial Net Zero Alliances

June 22, 2021 rachel_eaton Leave a comment

Building a global zero emissions economy to cut back greenhouse gas emissions is going to mean upending how countless businesses operate and cost trillions of dollars – a daunting task. Fortunately, financial firms are clearly taking the matter seriously, banding together into alliances to better address the problem. Financial net zero alliances hit the headlines again in April this year as former Bank of England governor Mark Carney – now the UK Finance Advisor for COP26 and the UN Special Envoy for Climate Action and Finance – launched the Glasgow Financial Alliance for Net Zero (or GFANZ).

Corralling the mighty weight of over 160 firms, GFANZ is doing essential work in the race towards carbon neutrality. Yet it is not alone – delve deeper into its connections and we learn that it was co-founded by the Net Zero Banking Alliance (NZBA). This in turn joins three further initiatives – and as we looked further, we became embroiled in an intertwined web of alliances.

Although initially appearing to be a Sisyphean task, navigating the web of financial net zero alliances gives a very real sense of the scale of the movement – how many financial companies have set net zero targets, for example. It also increasingly makes the Race to Zero look like an achievable goal.

Below is our timeline infographic of the evolution of Financial Net Zero Alliances. Please feel free to share it (tagging @GongComms) – we welcome collaboration and input to improve our work. We are aware this is an ever-growing universe; if you have additional financial alliances that you think ought to be represented in the network, please feel free to email us on NetZero@gongcommunications.com.

What does it mean to be a Net Zero company?

In short, being a Net Zero company means meeting the goal of net zero carbon emissions – or becoming carbon neutral – by 2050, in order to limit the global temperature increase to 1.5 degrees Celsius (in line with the Paris Agreement). While there is no standardised definition or criteria for use, society is becoming increasingly wary of greenwashing. All of the financial alliances for net zero listed in this article require their signatories to be transparent about their goals and to set science-based targets. The Collective Commitment to Climate Action (CCCA) has published a set of guidelines for climate targets setting for banks that underpin the NZBA (and can be downloaded here).

Is there an overview of all of the financial net zero alliances?

We couldn’t find one, which formed the basis of our own research. By way of overview: beyond GFANZ, the Net Zero Banking Alliance (NZBA) is a collection of 43 of the world’s biggest banks (including Bank of America, BNP Paribas, Barclays, HSBC, Santander and UBS) – which in turn joins three existing initiatives, namely the Net-Zero Asset Owner Alliance (AOA), the Net Zero Asset Managers Initiative and the Paris Aligned Investor Initiative. It incorporates the insurance industry (with the soon-to-be-launched Net Zero Insurance Alliance (NZIA), the internationally-led Asia Investor Group on Climate Change (AIGCC) and the Investor Group on Climate Change (Australia and New Zealand). In turn, both of these are part of Climate Action 100+, an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.

One of the original financial net zero alliances, Bankers for Net Zero is run in partnership with Volans, which has recently published a must-read white paper on aligning finance to a net zero economy.

How many financial companies have set net zero targets?

The good news is that the number of financial companies that have set new zero targets is increasing almost too quickly to assign a meaningful number. In September 2020, the United Nations Framework Convention on Climate Change (UNFCCC) reported that the number of net-zero commitments from local governments and businesses had more or less doubled in less than a year, mainly from members of the UN Race to Zero campaign.

Our research into the financial alliances for net zero indicates nearly a thousand large financial institutions are now part of one or more alliance, with thousands more signatories to the UN’s Principles for Responsible Investment.

News

Gong launches a Refugee Press Office

June 16, 2021 rachel_eaton Leave a comment

GONG LAUNCHES A REFUGEE PRESS OFFICE TO EXTEND REACH OF AGENCY PRO BONO RESOURCES TO A GREATER NUMBER OF SMALL CHARITIES

Gong Communications today announces the launch of its Refugee Press Office, building on its existing corporate social responsibility (CSR) initiatives and B Corp commitments.

Gong’s refugee press office will act as a pro bono PR and communications resource for refugee charities without professional communications support, helping them to communicate their stories effectively, amplifying their voices and reaching changemakers and campaigners via introductions to key journalists. Gong will provide expert media relations support for up to 10 charities per year through this initiative.

Project lead at Gong, Hannah Hughes said, “As part of our B Corp community effort, Gong donates 160 hours of PR and comms support. In previous years we’ve successfully worked with organisations such as Refugee Support, the African Entrepreneur Collective, and Uganda Conservation Foundation, securing coverage in influential international titles such as The Economist. This year, when we sat down as a team to choose which one charity we wanted to support, the issue of refugees and displaced people felt the most urgent. It proved too difficult to choose just one and so the idea of running a press office service that focuses on refugee issues was born.”

Refugee charities interested in learning more about Gong’s press office service can view the webpage here: https://gongcommunications.com/refugee-press-office/ read more in the flyer here and contact us for an initial conversation.

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Where are the changemakers?

June 7, 2021 rachel_eaton Leave a comment

Crises – like the current Covid-19 pandemic – take a significant social and economic toll, yet they contain the dynamics for disruption from which new business models emerge. In a June 2020 survey by McKinsey, more than 90 per cent of executives said they expect the fallout from COVID-19 to fundamentally change the way they do business over the next five years.

But where are these game changers, the companies challenging convention with the ability to open up new avenues of social, economic and financial growth? Here are three of our favourite examples of companies which are challenging convention and transforming industries right now.

Dive In Festival – adapting to a virtual platform to broaden reach of D&I issues

Despite a visible year-on-year growth for the insurance industry’s festival on diversity and inclusion – which Gong has worked to deliver since inception in 2015 – the Dive In Festival team’s swift response to physical events disappearing during the pandemic resulted in record-breaking attendance in 2020. By taking the event online, and running it virtually, Dive In recorded 30,153 attendees (three times that of the previous year), at 144 events globally, in 33 countries. The event has already proved to be award-winning, at the 2021 Africa SABRE awards, and the format will be replicated for the event in September 2021, when it will once again inspire discussion around important discussions such as racial equality and gender diversity in the workplace.

Visionable – changing how we access healthcare

Visionable is the first video collaboration platform designed especially for healthcare teams’ specialist clinical needs. It’s reimagining health and social care as we become more and more digitally connected. This article in the Financial Times outlines its success in improving results for stroke victims by allowing treatment by consultants via video link before they reach hospital. Even more recent though, is its Visionable Connect video calling app, allowing Covid patients to remain in contact with loved ones whilst in lockdown and professionals to support patients without having to visit their bedside, while PPE was in short supply. You can read the case study on this here.

DPO – encouraging financial inclusion via ecommerce in Africa

DPO Group is a home-grown Kenyan technology champion headquartered in Nairobi. Established 14 years ago, it has built and scaled electronic payment solutions that are now used by 50,000 merchants across Africa. It has a history of successful innovation – notably (according to this Forbes article on the company) because of the way it “respects the cultural differences that exist across Africa markets and builds products and local teams suited to each market”. DPO responded to an accelerated structural shift away from cash to online payments during the early stages of the Covid-19 outbreak by offering many of its small firm customers the opportunity to process electronic payments in order to expand. One example is Artcaffe – a coffee and bakery chain with no previous online presence – which was able to become a much larger food ordering marketplace, using a DPO-powered website. Artcaffe now sells products on behalf of its suppliers and supports the livelihoods of many offline businesses during the crisis.

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EU Green Week 2021

June 4, 2021 rachel_eaton Leave a comment

“It is painfully clear that human activity has negative impacts on other forms of life. Pollution is threatening the survival of more than one million plant and animal species, on land and at sea. It is one of the five leading causes of biodiversity loss. We cannot be negligent any longer. Thus, we are determined to tackle this challenge through our European Green Deal,” were President of the European Commission Ursula von der Leyen’s opening remarks at EU Green Week 2021.

Dedicated to championing a ‘zero pollution ambition,’ EU Green Week took place from the 1st to 4th June to engage stakeholders and interested citizens on how we can all work together to make the ambition for a zero pollution and toxic-free environment a reality.

Highlights included a seminar from the European Environment Bureau exploring the hidden social and environmental costs as well as inherent limitations of Europe’s ongoing energy transition; a short documentary film ‘Trapped by Plastic’ by Mandy Barker on the unpalatable truths about marine plastic pollution which sparked a fierce discussion on challenging complacency, reconciling contradictions, and accelerating the pace of positive change. Alongside this was a co-hosted panel discussion with the European Policy Centre and Apple Europe on the role of partnerships and innovation in creating a healthier future for our planet.

To conclude the week, we wanted to spotlight just a handful of companies who are driving sustainably conscious, greener industries.

Quotes from clients about zero pollution ambition

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Gong selected as PR partner to launch Birimian, an investment company focused on luxury African brands

May 28, 2021 rachel_eaton Leave a comment

Africa’s fashion industry is well recognised as a source of inspiration to international designers. However, limited scalability potential and lack of valuable critical mass of African designers are still hindering the growth of the creative sector.

Birimian Ventures aims to scale up African heritage luxury brands through patient capital, supporting designers on the continent and in the diaspora to facilitate their sustainable expansion both regionally and internationally, from seed funding to capital growth.

Gong backed Birimian’s market launch with robust media relations support, securing coverage across 22 countries worldwide, including in Vogue Business, Quartz, BBC Afrique and BBC World Service.

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Africa Day: Celebrating luminaries in the creative sector

May 25, 2021 rachel_eaton Leave a comment

By Janet Ndugire, Senior Account Manager

Africa Day is an annual celebration of African unity, to commemorate the founding of the African Union. This year’s theme, “Arts, Culture and Heritage: Levers for Building the Africa we Want”, presents a unique opportunity for the continent to celebrate great individuals who have played a key role in promoting the creative industries.

To celebrate this day, we are shining a light on the work of some outstanding creatives in East Africa. The work that they do within the creative economy acts as a major contributor to Africa’s growth transformation and stands as testament to the outstanding talent within the creative sector in Africa today.

Eugene Kavuma, Co-Founder Kampala Design Week

Through Kampala Design Week, Eugene Kavuma has provided a platform that inspires, equips and engages individuals and institutions to design sustainable solutions for East Africa’s challenges. He is an alumnus of the British Council’s Creative Hubs Academy and has been supporting young entrepreneurs in the arts and culture sectors in East Africa. In this Invest in Africa podcast, he commended organisations supporting the creative industries: “The British Council, for example, are doing a great job for the sector. The idea that you can bring people together and help them structure businesses in a much more profitable manner is a great contribution to the creative sector.”

Chao Tayiana, Founder, Africa Digital Heritage

Chao Tayiana is a Kenyan digital heritage specialist and digital humanities scholar. With a life-long passion for history, her work primarily focuses on the application of technology in the preservation, engagement and dissemination of African heritage and culture.

Her organisation, African Digital Heritage, is a non-profit organisation that seeks to encourage a more holistic approach to the design and implementation of digital solutions within African cultural heritage.

Faith Aweko, Founder Reform Africa

In 2019, Faith Aweko emerged as the winner of the Social Impact Award. Unafraid to get her hands dirty (literally), Faith (who was also an alumnus of the British Council’s Creative Hubs Academy) started Reform Africa, an organisation that transforms plastic polythene waste into durable, sustainable and water-proof bag packs and artistic accessories. According to Faith, waste is not waste until you waste it.

Arnold Mugaga, Founder Zetu Africa

Arnold Mugaga is the founder of Zetu Africa, a social enterprise based in Uganda. His design-led company creates innovative bags that pupils can use to carry books and convert into seats during class sessions – inspired by a 2016 report stating that 95 million children in Africa study without classroom furniture. Innovating throughout the Covid-19 pandemic, Arnold and his team now use locally sourced bamboo to create a lightweight, affordable chair and bag (with a mobile writing board) that is also waterproof.

George Gachara, Managing Partner HEVA Fund

Under George’s leadership, HEVA, Africa’s first dedicated finance, business support and knowledge facility for creative industries, has been at the forefront of supporting young businesses and entrepreneurs in the creative sector to build high-value profitable businesses to increase their potential and also create more jobs for the sector.

HEVA has invested in more than 40 creative businesses and directly supported over 8,000 creative practitioners in the fashion, digital content and television, live music and gaming value-chains.

As he opined in African Business, “Africa’s cultural and creative industries present an excellent opportunity for long-term growth, but they need to be nurtured and protected, especially in the wake of shocks from Covid-19.”

Labdi Ommes, Musician

Labdi is a visionary and a revolutionary Kenyan singer-songwriter and African single-stringed fiddle (Orutu) instrumentalist. She is a vocal powerhouse whose vision is to popularise African music culture, sounds and instruments and to re-introduce them to the world. Labdi represents the growing population of young African artists taking up indigenous instruments and re-introducing them into the current music scene. She is currently the only female Orutu player in East Africa which was taboo for women to play. The Orutu is a single-stringed fiddle which originates from Western Kenya, among the Luo Community.

For a taste of her sound, click on this link as she performs with Extra Soul Perception who were grantees of the British Council’s new Art new Audiences (nAnA).