Australia invited to the table to drive global market for social investment

Australia invited to the table to drive global market for social investment

Sir Ronald Cohen, a global leader in venture capital who has been at the forefront of UK and global developments to build the ‘invisible heart of markets’, is in Australia this week to promote the work of the international Social Impact Investment Taskforce established by the G8.

The Taskforce, which Sir Ronald chairs, was launched in June 2013 to catalyse the development of the social impact investment market. Australia is the only country outside of the G8 invited to become a member of the Taskforce.

“This Taskforce is becoming the international vanguard of the revolution in philanthropy. More than 200 able figures are engaged across the G8, Australia and the EU, focused on establishing impact investment as a powerful force in each country” said Sir Ronald.

In Australia, Sir Ronald will meet with leaders from business, finance, superannuation, philanthropy and government to champion his vision for this growing field of investment which generates social and environmental impact alongside a financial return.

“Australia has been invited to join the Taskforce on the strength of our innovation in this space” said Rosemary Addis, Australia’s representative on the Taskforce. Addis is the Co-Founder of Impact Investing Australia and Managing Director of Impact Strategist.

“Increasingly we are seeing pressures on government budgets, with a growing gap between the demand for services and what government and philanthropy can provide. We need to do some things differently to enable better outcomes for people and communities doing it tough.

“Australia can be a great contributor as a leading asset market and financial services community. We’ve shown excellence in tackling many social issues and have a market that is small enough to test and innovate new investment products and approaches.