A new independent institute that will make it easier for people to invest their money to benefit communities and society launched earlier this month.
The Impact Investing Institute will look for more effective ways to combine financial returns with a social purpose to help improve people’s lives.
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.
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.
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.
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, Baroness Sugg, 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.
Photo: c. Marco Verch, licensed under Creative Commons