While 250 academics urge Theresa May to confront Trump over climate crisis during his State visit this week, UK announced today (3 June 2019) a new independent institute that will make it easier for people to invest their money to benefit communities and society.
Due to launch in Autumn 2019, 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 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.”Elizabeth Corley, Chair of the Impact Investing Institute’s Management Board.
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), a press release reads.
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.
More information about the Institute can be found on its website.