A global Impact Taskforce has been established by the G7, bringing together leading investors, heads of industry and academics from around the world, to propose solutions around harnessing private capital at scale for public good.
It’s been established under the UK’s presidency of the G7, and will be coordinated by the GSG, the Global Steering Group on Impact investment. The GSG is well-suited to the task, being a convening body for leaders in finance, business, philanthropy and policy to drive a shift towards impact.
Nick Hurd will be Chair of the taskforce, “The state of our world requires a change in mindset from governments and the market. It will not be enough for private capital to do less harm. We need to mobilise trillions of dollars into investments that combine return with positive social or environmental impact. The Impact Task Force will show how that can be done.” Nick says.
The taskforce will be structured with two core working groups. Working Group A will focus on ‘Impact Transparency, Integrity and Reporting’, and will be chaired by Douglas Peterson, President & CEO of S&P Global.
Notable members of the working group that OnImpact readers will recognise include Fabienne Michaux, Director of SDG-Impact at the UNDP, as well as Richard Brandweiner, CEO of Pendal.
A second group, Working Group B, will explore ‘Instruments and Policies to Scale Impact Investment’, and will be chaired by Dame Elizabeth Corley, from the UK’s Impact Investing Institute.
Local investors, Tim Macready, from Brightlight Impact Advisory, will be part of group B.
“The challenges of climate action and inequality that the world faces are increasingly urgent. Like my fellow taskforce members I’m delighted and excited at the the opportunity to continue to support the growth and maturing of the impact investing market as we seek to articulate ways that capital can be part of the solution to these pressing problems.” Tim says.