In the press: Five steps to a more inclusive and sustainable UK economy
The UK National Advisory Board on Impact Investing is a group of leading figures from business, Government and civil society with a clear mission: to build a more inclusive and sustainable economy in the U.K. It is chaired by Bridges’ co-founder Michele Giddens and supported by the Bridges Impact Foundation.
Its new report: ‘The Rise of Impact’ features five recommendations for investors, businesses and Government, drawing on the lessons of impact investing to propose concrete steps that would make the UK economy more inclusive and more sustainable.
Over 200 people attended the launch event hosted by the City of London Corporation at the Guildhall this week, where Michele and the rest of the UK NAB outlined an ambitious vision to unlock an additional £300bn for investments that directly address social and environmental challenges, while also establishing the UK as a global hub for impact investing.
The report’s recommendations include: the creation of a £2bn fund to catalyse investment and stimulate opportunities in communities that have seen decades of underinvestment and no real income growth; the creation of ‘Pensions with Purpose’ that will enable savers to invest in line with their values; placing even greater emphasis on social value within public procurement; and strengthening the UK’s role in international development finance.
The UK NAB is the UK’s voice in a Global Steering Group of 15-member states plus the EU: chaired by Sir Ronald Cohen, it was established as the successor to the Social Impact Investment Taskforce set up during the UK presidency of the G8. Chaired by Michele Giddens (co-founder of Bridges Funds Management), members include David Blood (co-founder of Generation Investment), Saker Nusseibeh (CEO of Hermes Investment Management), Sacha Romanovitch (CEO of Grant Thornton), and Hazel Blears (former Labour MP).
The launch was covered by the FT, City A.M., and Pensions & Investments amongst others. We believe this points to a real appetite for constructive ideas about how to can build a more inclusive and sustainable economy.
For more information, and to read the full report, ‘The Rise of Impact’, please visit the UK NAB’s website at www.uknabimpactinvesting.org
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