The body will encourage ordinary savers to choose ISAs,
pensions and savings products that benefit the issues
they care about. These could include investments in
organisations that provide housing to homeless people,
renewable energy companies or businesses committed to
delivering sustainable employment.
It will bring together the UK National Advisory Board
on Impact Investing (UK NAB) and the Implementation
Taskforce on Growing a Culture of Social Impact
Investing in the UK (Implementation Taskforce).
The initiative is being led by their chairs, Sir Harvey
McGrath and Elizabeth Corley, who have launched the
process to recruit the CEO of the Impact Investing
Institute today.
The Institute has broad backing across the financial
services and social sector, and will be supported by
private firms and foundations alongside the Department
for Digital, Culture, Media and Sport, the Department
for International Development and the City of London
Corporation.
The launch of the Institute builds on the UK’s history
of encouraging a world leading market for social impact
investing and promoting the UK as a global impact
investing hub.
Culture Secretary said:
More people than ever before want their savings and
investments to make a real difference to people’s
lives and the planet, while still generating a
return. We want to make it as simple as possible for
investors to put money into the issues they care most
about. The Impact Investing Institute will look at
more ways for people to do this, whether you’re an
asset manager or pension fund, or an ordinary saver
who wants to invest their money to change lives for
the better.
Elizabeth Corley, Chair of the Impact Investing
Institute’s Management Board, said:
The Impact investing market has grown rapidly in the
UK and around the world. Investing for positive
impact goes beyond avoiding harm and mitigating
risks, and is at the centre of a wider movement
towards more responsible investing. The Institute
will play a significant role in ensuring the UK
continues to stay at the forefront of innovation in
Impact Investing, enabling UK savers to invest in
line with their values and have increased ownership
over the social outcomes that their money generates.
Sir Harvey McGrath, Chair of Big Society Capital and
the Impact Investing Institute’s Advisory Council,
said:
The UK is well-placed with its long running history
in impact investing and as a global financial hub to
accelerate the next wave of growth and innovation in
impact investing. Big Society Capital is pleased to
show its support to the newly formed Institute.
Bringing together the UK NAB and Implementation
Taskforce will create a group with impressive
convening power and world-class knowledge of both
mainstream and social investment.
The Institute will be open and diverse, involving
organisations and people from a variety of different
areas with a commitment to investments that drive
positive impact. More information about how to support
the Institute can be found on its website.
International Development Minister said:
The UK public gives more money to charitable causes
than any country in Europe, but people might not know
how to invest their money in a way that matches their
values.
We need more private investment for developing
countries if we are to achieve the Global Goals and
this new Institute will do that by encouraging savers
to choose ISAs, pensions and savings products that
benefit the issues they care about, like climate
change.
The Economic Secretary to the Treasury, , said:
We know that many savers want to invest their
hard-earned money into products that make a positive
impact on the world.
Today’s announcement will support these aims,
allowing more people to invest into causes that are
meaningful to them, including renewable energy,
community projects or education.
This is part of our wider work to promote
sustainability, including in areas like Green
Finance, which is encouraging investment in projects
that will protect our natural environment.
Catherine McGuinness, Policy Chair at the City of
London Corporation, said:
I’m delighted that the City of London Corporation is
supporting the establishment of the Impact Investing
Institute.
As the home of one of the world’s leading financial
centres, I am proud that the City of London is
leading the way in promoting more investment in
businesses which are socially and environmentally
impactful.
Caroline Mason, Chief Executive of The Esmée Fairbairn
Foundation, said:
The role of investment and finance is essential to
encourage and back organisations, products and
services designed to deliver a strong, intentional
positive impact. This movement has been growing
steadily and will be given a strong boost by the role
of the Impact Investing Institute in realising its
full potential to build what we all know we need to
work together on: a prosperous, sustainable and
inclusive UK.
- For more information call DCMS Press Office on 0207
211 2210
- The UK National Advisory Board on Impact Investing:
In 2013, under the UK’s presidency of the G8, the
independent Social Impact Investment Taskforce was set
up to “catalyse a global market in impact investment”,
creating National Advisory Boards (NABs) for each
member state. In 2017, the UK NAB produced
its comprehensive plan for
creating an inclusive and sustainable economy.
- The Implementation Taskforce: In 2016, the UK
government set up an Independent Advisory Group on
Growing a Culture of Social Impact Investing in the UK,
chaired by Elizabeth Corley. Following its report, the
Prime Minister asked Elizabeth to lead an
Implementation Taskforce to take forward
the report’s recommendations.
It drew on the expertise of over 80 firms and industry
associations across a number of different sectors and
jurisdictions.
- Find out more about the Impact
Investing Institute
