The Responsible Business Forum Estonia has recognised SmartCap for its activities in the field of sustainability with the Silver Level. This is Estonia’s most prestigious recognition for companies awarded for their activities in the field of sustainability and social responsibility.
According to board member Mari Vavulski, this year SmartCap received the Responsible Business Silver Level for the second time – the Estonian state owned fund manager participated in the CSR index for the first time in 2021, and back then the company was also recognised with the Silver Level.
“SmartCap’s mission is to develop the Estonian venture capital market by helping ambitious start-ups here to grow. One of the integral parts of our investment activity is adherence to principles of sustainability – both through SmartCap’s Venture Capital Fund and even more so through SmartCap’s Green Fund launched in 2023,” said Mari Vavulski. “The goal of SmartCap’s Green Fund is to invest in early-stage Estonian start-ups that develop breakthrough technologies, products or services which contribute to the achievement of a climate-neutral circular economy and solving of environmental problems.”
In addition to investment activities, the daily responsible operation of the company is also important for SmartCap.
“For this purpose, the company has measured its environmental footprint and important points of influence, and it views compliance with economic, environmental and social factors in daily operation as an important part of its activity,” said the board member of SmartCap. “SmartCap’s goal is to contribute to shaping a sustainable future and to have a conscious positive impact on various aspects of our society. We expect our partners to follow these principles as well.”
The methodology of the Responsible Business Index has been developed in cooperation with international experts, following principles of the UN Global Compact, ESG assessment frameworks and the UN’s sustainable development goals.