UK Government Launches The Impact Investing Institute
The UK government is set to launch ”The Impact Investing Institute” in autumn this year, with the aim to accelerate the growth, and improve the effectiveness of, the UK impact investing market. The institute has the backing of the UK’s Department for Digital, Culture, Media and Sport, the Department for International Development (DFID), and the City of London Corporation, and will be supported by private firms and foundations.
The goal of the institute is to look for more effective ways to combine financial returns with a social purpose to help improve people’s lives. It will encourage savers to choose pensions and savings products that invest in the issues they care about, such as providing housing to homeless people, renewable energy, or businesses committed to providing sustainable employment.
The initiative is being led by Harvey McGrath, chair of the UK National Advisory Board on Impact Investing, and Elizabeth Corley, chair of the Implementation Taskforce on Growing a Culture of Social Impact Investing in the UK. The two will spearhead the process to recruit a chief executive to lead the organisation. The group said it will be accepting applications for the post until June 18.
The Institute will have four key objectives:
1: Strengthen the market infrastructure for impact investing
2: Increase the amount of capital invested for impact
3: Improve the effectiveness of capital invested for impact
4: Make it easier for individuals to invest for impact