Investing in Integrity: The story of Nick and Pangea

When Holly and I were building Indigo Volunteers, we were overwhelmingly blessed by people who jumped on board to help us make it happen. Without those people, Indigo would not have been. One of those people was Davina.

You will never forget your first meeting with Davina, a truly wonderful person whose kindness, sincerity, and immense creativity are something to behold (Davina, alongside her voluntary contributions to the world, created one of the first truly organic skincare products).

In 2017, I met her soon-to-be husband for the first time, Nick.

It was no surprise that, like Davina, Nick was a man of such great purpose. I have been wholeheartedly invested in learning about what Nick is building at his company Pangea Impact Investments. (If you don't read the rest of this article, I would highly encourage you to follow Nick's current series, "Investing for Life," - his upcoming investment course and Pangea's website ).

I have been captivated by what Nick is building at Pangea because, since 2008, I first had a pension fund, having joined Diageo as a graduate, my pension has been invested blindly for almost all of the fifteen years as a pension fund owner.

Errors in my (investing) ways

When I took the plunge to create my own business in 2016, I set up my first non-company pension.

I invested my pension 'ESG' funds. However, it took me until 2020 to carry out the most basic due diligence on those funds.

When I did investigate, I was quite shattered to see that many of the companies in the fund were not close to being objectively sustainable. As someone whose job it is to build ESG Management Systems, I recognised the errors of my ways.

I began the search for a genuinely sustainable investment fund but struggled. Thankfully, Nick entered the room!

Skin in the Game

One of my favourite books is Skin in the Game by Nassim Nicholas Taleb.

His powerful claim is that individuals, groups and societies too often lack skin in the game, defined as having incurred the appropriate risk (monetary or otherwise) when involved in achieving a goal.

For example, if I build a roof on your home, and that roof collapses, and I, as the builder, bear no responsibility, I have no skin in the game.

I have all the upside (a profitable fee for building the roof) and no downside (financial and emotional cost) of your roof collapsing.

The world is complex. It can be challenging to measure who should have what skin in the game objectively. We may have to rely on heuristics at times. But often, it's simple, which brings me to the planet and investments.

Skin in the Planet

My favourite definition of sustainability is making no decision that negatively impacts the planet, communities or people for the next seven generations and beyond.

Today, too many corporations, governments, individuals, and even NGOs are making decisions with a downside for the planet, for which they will bear no consequence. All upside, no downside. Which means there is no skin in the game.

This is not designed to shame or lament! Instead, it is designed to encourage a better way.

I love what Nick is building at Pangea. It is a fund that considers and cares for the planet and the future because Nick does. A company is a reflection of a founder and his or her personal values.

The value that stands out about Nick and, therefore, Pangea is integrity: the value of doing the right thing, not the easy thing.

After fifteen years of not doing the right thing with my pension, I am so excited to be part of investing in Pangea ... for which I should say I earn no commission!

I really encourage you to follow their story.

Thanks for reading and take care.

Benjamin

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