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Creating Sustainable Value

Greece’s Sovereign Wealth Fund appoints bespoke team of international ESG advisors to build value of its public assets portfolio

16th August, London & Athens, 2022: A multi-disciplinary group of international advisors led by ESG specialists, Earth Active, has been appointed by Greece’s sovereign wealth fund, Growthfund.

The group, comprising London-headquartered Earth Active and Gong Communications and Athens- based Sympraxis, combines expertise in ESG audit, capacity building, policy and strategy and best practice implementation with ESG stakeholder communications.

Commenting on the appointment, Anthi Trokoudi, Chief Communications and Sustainability Officer at Growthfund said, “The international team we have appointed draws on specialists with many years’ experience, much of it honed in complex contexts where they have perfected the art and science of combining data and culture to bring about transformations that support ESG best practice. What our team in Growthfund aims for with regards to the vital issues of Sustainability and Climate is to achieve managing public companies and public real estate responsibly”.

Michael Nates, Earth Active Governance Lead and Clair Donnelly, Earth Active Director and Climate Lead said, “The role of the sovereign and public wealth funds has never been more important in demonstrating global leadership on climate change, a just transition and the biodiversity crisis. Our bespoke, cross-functional team brought together for this unique engagement is supporting the team at Growthfund in delivering its vision to add value to Greece’s public enterprises and assets for the benefit of its people. We feel very lucky to be part of this ambitious project and for the association with such an iconic portfolio of assets that includes at one extreme flagship real estate and at the other, infrastructure projects such as the refurbished Corinth Canal.

 

About Growthfund

Growthfund, the National Fund of Greece is a holding company established in 2016 with the Greek State as its sole shareholder, as represented by the Minister of Finance. Its mission, as Greece’s Sovereign Wealth Fund, is to: play an active role in the modernisation of Public Enterprises, maximise the value of public property, ensure enhanced services for citizens/consumers and contribute to the national economy.  In 2021, Growthfund (HCAP), signed up to the One Planet Sovereign Wealth Fund initiative (OPSWF). Growthfund’s portfolio includes subsidiaries and holdings in public enterprises that are active in key sectors of the Greek economy, such as Real Estate: Hellenic Republic Asset Development Fund (HRADF), Hellenic Public Properties Company (HPPC), GAIAOSE, ETVA-VIPE, TIF HELEXPO; Energy and Utilities: PPC, EYDAP, EYATH; Transport and Infrastructure: Athens International Airport, OASA (Transport for Athens) AEDIK, 23 Regional Airports; Food Supply: CMT, CMFO, Hellenic Saltworks; Technology: PHAISTOS Fund; and Postal Services: HELLENIC POST The value of the portfolio managed by Growthfund currently stands at €6 billion, and its companies have a total of 31,000 employees.

About Earth Active

Earth Active is a globally experienced team of bespoke ESG advisors, with headquarters in London. We create sustainable value for clients from their investments by understanding the intrinsic links between E, S and G, and focusing on the investment outcome. We are specialists in leadership and governance with a deep technical understanding of the challenges of climate change, biodiversity, environmental, and social performance.  We work across the agriculture and forestry, energy and renewables, manufacturing, industrial and extractives and retail sectors for clients including development finance institutions, commercial banks, private equity and multinational companies.

About Gong Communications

Gong Communications, part of the Wilful Group, is a corporate and B2B communications agency with offices in London and Nairobi. A certified B Corp since 2017, Gong works at the intersection of finance & risk, sustainability and global development for clients including the IFC, UNESCO, Aon and Old Mutual. Alongside ESG, key themes in its work for clients include stakeholder communications around diversity and inclusion, innovation, entrepreneurship and technology.

About Sympraxis

Sympraxis team provides end to end sustainability strategy, implementation and communication services to clients such as OTE (Deutsche Telecom), Papastratos (Philip Morris International), Beiesdorf, Google, SOS Children's villages and the European Commision. In the past 22 years Sympraxis has supported more than 500 projects with an overall value that exceeds 50m€, in 16 countries throughout the globe.

5 September 2022
Catherine Barrett
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