Investment body launched to support socially responsible saving

The government is seeking a CEO for a newly launched independent institute designed to make it easier for people to invest their money to benefit communities and society and target options that have a positive social impact

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.

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.

The initiative is being led by their chairs, Sir Harvey McGrath and Elizabeth Corley, who have launched the process to recruit the CEO of the new body.

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.

John Glen, economic secretary to the Treasury, said: ‘We know that many savers want to invest their hard-earned money into products that make a positive impact on the world.

‘The announcement will support these aims, allowing more people to invest into causes that are meaningful to them, including renewable energy, community projects or education.’

Details of the Impact Investing Institute

Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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