Leon Greyling, COO of EBnet
In a vibrant gathering that blended reflection with forward momentum, EPPF celebrated its 75th anniversary with the Beyond Tomorrow with EPPF Breakfast this morning. Held at a premier venue in Johannesburg, the event drew industry leaders, stakeholders, and partners to honour seven decades of safeguarding retirements while charting a bold path for a sustainable future. The breakfast underscored EPPF’s unwavering commitment to “Caring Beyond Tomorrow,” evolving from a foundational pension provider to a catalyst for societal transformation, economic growth and sustainability.
Founded in 1950 to support Eskom employees and their families, EPPF has grown into one of South Africa’s largest retirement funds, serving over 80,000 members and over R250 billion in assets. The organisation is not just commemorating its past but redefining its role in a rapidly changing world – and a South Africa that needs a new form on investment leadership.
At the heart of the presentations was EPPF’s sustainability journey – a narrative of deliberate evolution from compliance-driven environmental, social, and governance (ESG) practices to a holistic strategy that integrates sustainability into every facet of operations. The session delved into how the fund has transitioned from viewing sustainability as a risk mitigator to a value creator, aligning investments with the United Nations Sustainable Development Goals (UN SDGs). Key data shared revealed that EPPF’s portfolio now emphasizes impact investing, with allocations supporting renewable energy projects that address South Africa’s energy crisis and climate vulnerabilities. Interestingly, the fund is now measuring their investments versus benchmarks/indices to determine their relative over/under-weight to the various UN SDGs – an exercise that will mature over time, particularly in South Africa. They are also measuring a range of other metrics, like jobs created or emission reductions.
This journey, however, extends far beyond EPPF’s own walls. A pivotal segment of the breakfast focused on expanding the sustainability ecosystem to encompass a broader network of financial players. Historically centred on asset managers, EPPF’s initiative now ropes in administrators, stock brokers, custodians, banks, and even regulatory bodies to foster a collaborative framework. By 2030, EPPF envisions a fully interconnected ecosystem where sustainability metrics are as routine as balance sheets, amplifying impact across the value chain.
Currently they are working on an investigation into the stockbroking industry, having partnered with Motswedi Economic Transformation Specialists to unpack how brokerage is allocated across the available broker set and why the pace of transformation in that industry has been relatively muted. Albeit early days for this initiative, some insights were presented looking at the “problem” differently, and considering the impact of lower IPOs, exchange control relaxation, foreign ownership, and economic growth on the industry.
What truly resonated was the emphasis on sustainability as not just an investment imperative but a cultural ethos – how EPPF “shows up” internally and externally. Internally, this manifests in diverse leadership and inclusive policies; women now helm R18.9 billion in assets, comprising 31% of investment decision-makers, 38% of portfolio managers, and 35% of analysts. The fund is actively seeding three women-led investment companies, underscoring its commitment to economic parity. Externally, EPPF’s three pillars – environmental regeneration, economic parity, and social equality – guide investment decision making.
I must admit, that I am somewhat of a sceptic towards those banding about the terms sustainability and impact, but this morning was the first time I have ever, well in South Africa that is, seen actual tangible efforts to intentionally target impact with measurement to back it up. Congratulations to the EPPF for going beyond just words and delivering on their promise, one sustainable step at a time. They are clearly thinking Beyond Tomorrow.
ENDS
