- New industry-led Taskforce to increase private investment in
aid of global recovery from the pandemic.
- Focus will be on finding investment solutions that have
environmental or societal benefits, as well as generating
financial gains.
A new, industry-led Impact Taskforce that will harness private
finance at scale to ensure a sustainable recovery from covid, has
received Government backing.
The Taskforce will be headed up by experts in impact investment,
an approach where investors make financial decisions that have a
positive impact on the environment or society – like investing in
companies that produce affordable solar panels – as well as
improving the bottom line.
Set to develop recommendations that will be made to Foreign and
Development Ministers and the financial sector globally, the
Taskforce will explore:
- Standards for measuring the social or environmental impact of
financial investments simply, transparently and in a globally
consistent way, making it easier for all investors to invest
based on impact as well as financial return;
- Financial products that best mobilise investment, while also
having a positive environmental and/or social impact. These
include financial tools or instruments that can raise capital to
tackle climate change, improve education, deliver better
healthcare or labour markets creating equal opportunities for
women.
The Taskforce will coordinate efforts in countries belonging to
the G7, G20 and those attending this year’s COP26 in Glasgow. The
group is expected to first meet next month, with a dedicated
working group of representatives from G7 countries, guest
countries and emerging economies, bringing unique perspectives
from impact investors and businesses at both global and local
levels.
, Foreign, Commonwealth and Development Office
Minister:
The UK is once again shining a spotlight on the power of
finance to drive not only growth in our economies, but also
positive impact on our society and the environment. Having
seeded the impact investing agenda in our last G7 presidency,
we are delighted that the Taskforce will now draw on the
experience and know-how of what has become a global impact
finance market.
Nick, Hurd, Chair of the Impact Taskforce:
The state of our world requires a change in mindset from
governments and the market. It will not be enough for private
capital to do less harm. We need to mobilise trillions of
dollars into investments that combine return with positive
social or environmental impact. The Impact Task Force will show
how that can be done.
Cliff Prior, CEO of the Global Steering Group for Impact
Investment (GSG):
We are delighted to have been supported by the UK government to
lead the secretariat of the Impact Taskforce. Robust reporting
standards and innovative investment structures are absolutely
central to the development of an impact ecosystem that benefits
people and the planet. The creation of the Taskforce will
highlight the power of impact investing during the UK’s G7
presidency, as countries around the world seek solutions for
fair and just recoveries from the COVID-19 crisis.
Sarah Gordon, CEO of the Impact Investing Institute:
Impact investment has the potential to contribute to solutions
to some of the biggest challenges we face as a country, and a
planet – whether that is a just recovery from the pandemic or
addressing the climate crisis. To harness private capital at
scale for public good, we need structures that meet investors’
requirements and deploy capital where it is needed, improving
access to decent jobs, education and healthcare, and investing
in a just transition to a net-zero world.
