Our goal

We want to increase the flow of public and private capital to address environmental and social challenges. Those capital flows are vital in achieving the transition to a net-zero carbon world, which should be inclusive and socially beneficial – a concept commonly referred to as a ‘just transition’. 

What we have done to achieve it

With the backing of a large group of leading investors and industry bodies, we developed a joint proposal for a UK Green+ Gilt, a sovereign bond combining social with environmental impact.

The coronavirus pandemic has shown that the need to address both the consequences of climate change and the social impact of a transition to a net-zero economy has never been more important. Our Green+ Gilt proposal argues that environmentally sound investments should also create high-quality jobs and skills and contribute to “levelling up” regional inequalities in the UK, with local solutions targeting deprived areas and communities.

Market appetite for bonds combining social with environmental impact

The proposal was developed in partnership with the Green Finance Institute and the London School of Economics’ Grantham Research Institute on Climate Change and the Environment, and with input from fixed income market participants. It also gained the support of 40 leading asset owners and managers, representing more than £10 trillion in assets, as well as influential professional bodies. In October 2020, shortly after the publication of our proposal, the UK government announced its plan to issue the first of a series of green bonds in 2021.

To build on the success of our Green+ work and help address the need for the sovereign green bond to deliver jobs, skills and levelling up, we have established a working group to develop robust and measurable metrics for these social impacts that could be used in the design process.

Publications

In May 2022, BEIS, DEFRA and HMT published a call for evidence ahead of the UK government’s update to its Green Finance Strategy, expected later…

In 2017, Dame Elizabeth Corley, Chair of the Impact Investing Institute, convened the first meeting of the Taskforce for Growing a Culture of Social Impact Investing in the UK. Since then, the impact investing market has developed significantly – but until now there has not been an estimate of the size of the UK market in its totality. Our report, “Estimating and describing the UK impact investing market”, published in partnership with EY and supported by the Department for Digital, Media, Culture and Sport and Big Society Capital, sets out to change this.

Our paper, “The Green+ Bond: How EU Sovereign and Corporate Issuers could deliver Green Sovereign Bonds with Social Co-Benefits”, co-authored with the LSE’s Grantham Research Institute, emphasises the strategic potential for a green sovereign bond with well-defined social and economic benefits to support the European Commission’s new Strategy for “financing the transition to a sustainable economy.”

News & Views

The UK’s inaugural green gilt issuance, which was supported by the Impact Investing Institute, has been honoured by the Climate Bonds Initiative with their Largest Green Sovereign Bond and the Sovereign Green Market Pioneer awards.   

The Leadership Council, in partnership with the charity pilotlight, have published a new report, The Great British Talent Swap, calling for a sharing of talent and experience between the charitable and commercial sectors.

The Impact Taskforce, established under the UK’s 2021 presidency of the G7, is pleased to announce the group’s members.

The new Taskforce is composed of global leaders from the world of business, public policy, and the social sector, including senior figures from BlackRock, Temasek, Schroders, Mahindra Group, Morgan Stanley, S&P Global, BASF, the World Bank, the International Monetary Fund and the European Commission.

Events

The Finance for Impact Summit on Monday, 18 July 2022 will bring together leaders of finance, business, governments and other institutions from around the world to discuss how we can better harness finance for the good of people and the planet. This one-day event will be held in person at Mansion House in London, and streamed live to a global audience.

Held in partnership with the University of Glasgow, this event will feature two panel discussions focusing on issues which are central to the ongoing development of sustainable finance in the UK: green bonds, and fiduciary duty and sustainable investment.