Cliff Prior’s Post

👏It’s a wrap! Thanks PEI for organising a great  #Impact Investor Global Summit in London and bringing together the growing community of impact investors. It has been energizing to feel the willingness and urge to work together on pressing inequalities, climate change and building sustainable societies.   It was a pleasure to discuss “Addressing inequalities: Just Transition and the social impact landscape” with fellow panelists Stephen Muers, Liz Roberts, Cyril Gouiffès 🇪🇺 and Luc Rigouzzo.   💡Key takeaways from our session:   ✅ A just transition isn't just about shifting to green energy—it's about ensuring that the move benefits all sections of society, particularly the marginalized. ✅ In the European impact market, we are witnessing a de-coupling between the impacts on social issues and those related to climate (75% climate funds versus 25% social funds). ✅ Importance of empowering local communities by providing them with resources and decision-making power and ensuring that the benefits of the transition are widely and fairly distributed. ✅ Establishment of clear metrics and standards for measuring social impact is essential to build accountability mechanisms. This helps in assessing the effectiveness of initiatives and making necessary adjustments. Many thanks to Boris Petrovic and the rest of the team at New Private Markets and PEI for this inspiring event. 

This week Impact Europe asked impact investors where is Europe’s biggest opportunity. Answer: Wales It’s just what Owen Derbyshire and Matthew Kelly and I have been talking about. When you set a long term national mission like seven well-being goals investors notice. Our challenge is are we ready for more impact investors? We’ve got the social enterprises (diolch Cwmpas) and we certainly have the need for investment so we should look at how can our Welsh trade missions and international strategy be leveraged further for bringing in impact investment. Closer to home there’s still work to do to align all public sector finance and business support instruments to our wellbeing goals and set our goals as the national mission to business. WG doing some brilliant work on green growth pledge, fair work and now investment principles for nature finance. But what more can we do to take advantage of responsible finance for our wellbeing goals and how do we plug global impact investment interest into community wealth building? Something for the FM’s global investment summit next year? I didn’t attend the conference but was sent this pic by Giulia Corinaldi (the person who’s had the biggest impact on my life haha)

𝐉𝐨𝐢𝐧 𝐮𝐬 𝐟𝐨𝐫 𝐚 𝐏𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐅𝐞𝐞𝐝𝐛𝐚𝐜𝐤 𝐒𝐞𝐬𝐬𝐢𝐨𝐧 𝐨𝐧 𝐈𝐦𝐩𝐚𝐜𝐭 𝐃𝐮𝐞 𝐃𝐢𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬! 🗨️🔍 Excited to invite you to a dedicated session focused on discussing the Impact Due Diligence Principles (#IDDPs) developed by the Bundesinitiative Impact Investing in February 2024. These principles offer impact investors and investees a robust framework for navigating the increasingly critical landscape of impact due diligence. 🔗 Position Paper: https://lnkd.in/dmE6_65V "𝘞𝘦 𝘢𝘳𝘦 𝘰𝘱𝘵𝘪𝘮𝘪𝘴𝘵𝘪𝘤 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘐𝘋𝘋𝘗𝘴 𝘸𝘪𝘭𝘭 𝘩𝘢𝘷𝘦 𝘢 𝘴𝘪𝘨𝘯𝘪𝘧𝘪𝘤𝘢𝘯𝘵 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘯 𝘵𝘩𝘦 𝘢𝘥𝘷𝘢𝘯𝘤𝘦𝘮𝘦𝘯𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘐𝘮𝘱𝘢𝘤𝘵 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵." (Dr. Mirko Hirschmann, scientific author of the IDDPs) A particularly important principle for Mirko Hirschmann is Principle 4 - 𝐍𝐞𝐭 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐢𝐭𝐲. In a way, this is the heart of Impact Investing, as it not only emphasizes the need to comprehensively assess and include negative external effects, such as environmental pollution, in a specific investment, but also underscores the positive, transformative contribution that an investment aims to make in our society. 📑 The IDDPs were developed in close collaboration with an expert group to meet the requirements of institutional investors. In addition to Mirko Hirschmann, Jörg Rhode, Co-Leader of the Impact Measurement and Management Working Group (AK WWM) of the BIII, and Cornelia Nyssing, responsible for the #IMMPACT cooperation project at the Bertelsmann Stiftung, were significantly involved in the development. To further develop the IDDPs and strengthen their practical relevance for market actors, we invite you to join us on: 🗓️ 15th May 2024 🕓 4-5 pm 🔗 Registration: https://lnkd.in/eYHMgrWr #impactinvesting #impactduediligence #sustainablefinance #positionpaper

The Impact Principles are excited to be in Amsterdam for the #GIINForum2024! We look forward to hosting two events at the Forum specifically for Impact Principles Signatories and invited guests, including prospective Signatories and asset owners and allocators. 🍽️ SIGNATORY LUNCHEON  At our annual Signatory Luncheon, the Secretariat will share updates and invite collective reflections on the Impact Principles’ future direction, including through an intimate fireside chat with Danielle Brassel of Zurich Insurance (our future Advisory Board convenor), Maria Teresa Zappia of BlueOrchard Finance Ltd (our former convenor), and Sapna Shah of The Global Impact Investing Network (our host). Often the biggest gathering of Signatories every year, the Signatory Luncheon is an excellent opportunity to experience the Impact Principles community and connect with like-minded peers committed to shaping the growing impact investing market with best practices in impact management. 💡 DFI IMPACT ROUNDTABLE  We also look forward to hosting an interactive peer conversation at the end of the Impact Forum’s first day specifically for our DFI and MDB Signatories, led by IFC - International Finance Corporation and featuring discussants from British International Investment, IDB Invest, and Proparco. Through their market development and capacity-building roles to mobilize private capital flows in frontier and emerging markets, DFIs are essential partners in helping the Impact Principles grow as the global standard for impact management. This discussion will explore the active role DFIs can play in supporting the awareness, rapid adoption, and implementation of the Impact Principles and impact management best practices by investors, including private sector asset owners and allocators. To learn more, please visit impactprinciples.org or reach out to us at secretariat@impactprinciples.org #impactprinciples #impactinvesting #impactmananagement #IMM Pablo Fajnzylber, Rob Davies, Barberousse Guillaume, Joohee Rand

Jessica Pothering and I are looking forward to seeing the many Agents of Impact who are heading to Amsterdam for The Global Impact Investing Network's Impact Forum next week. I highlighted a few workshops that caught our eye in a previous post. Here are some more: 💡 Institutional Asset Owners Adopting an Impact Lens. The big money is in pension funds, insurance companies (and sovereign wealth funds as well). Many are moving from carve-outs to portfolio-wide impact strategies. We're keen to hear from Danielle Brassel of Zurich Insurance, Piet Klop of PGGM Investments, Christian Rosenholm of The Global Impact Investing Network, George Graham of South Yorkshire Pensions Authority and Liz Roberts of MassMutual Impact Investing. 📈 Measuring Impact of Investments in Historically Marginalized Communities. ImpactAlpha readers love measurement. William Burckart of TIIP - The Investment Integration Project and Melissa Bradley of 1863™ Ventures, along with Hetal Damani of Trill Impact, Brianna Losoya-Evora of Sweef Capital, will demonstrate what it means to measure expanded access to capital markets. 🌡 Climate Investing Opportunities in Emerging Markets. They're huge and underappreciated. We've been watching with interest as Patience Marime-Ball, Esq. works the private equity angle from inside Apollo Global Management, Inc. She'll light up the stage with Charbel Moussa, PhD of KPMG US and Pablo Fajnzylber of IFC - International Finance Corporation. ♀ Orange Bond Initiative: Building Gender Equal Capital Markets. Impact Investment Exchange (IIX) has put itself on the map with a series of gender-lens 'Orange Bonds.' Robert Kraybill will share the story of how they have built a market, along with Alex Shyy of Taiwan International Corp., Shahzad Memon of APG Asset Management and Gisela Strand of Swedish International Development. Will you be at the GIIN? What are you watching for. Who should we meet? Please DM me or Jessica Pothering or comment below, or just grab us in Amsterdam. See you there! #impinv #impactinvesting #sustainability #socialimpact #climateaction #emergingmarkets #genderlens

Whilst being on the road is always a busy time, it's also given me the opportunity to reflect on some recent milestones. Last month the responsible investment community gathered in Toronto for the 2024 edition of #PRIinPerson. As one of our largest ever conferences, it brought together over 2,000 investment professionals from 45 countries committed to progressing global action on responsible investment. In this blog I share some of my reflections: https://lnkd.in/gxkCSnSQ. What was your highlight? Principles for Responsible Investment

Join 'progressives' in impact from across the globe for a forum focused on their journey in impact investing. There will be plenty of takeaways for everyone, whether just starting, advancing, or advanced, in impact investing. Be great to see you there! If not yet attending, email us on iipconference@wealthofnations.com.au to register your interest. #impactinvesting #sustainablefinance #impact #5by25

Two days of opportunity to speak to your direct investor peers about the most important issues of this time and how to turn these into impactful investment opportunities! Sign up today for the last complimentary tickets.

✨ Proud Moment! WaterEquity honored as an #IA50 Emeritus Impact Manager by ImpactAssets This is WaterEquity's sixth year of being included in the IA 50 list and first as an Emeritus Impact Manager. 🏆 This recognition underscores our commitment to #sustainable and impactful investing, empowering low-income communities for a sustainable #water future. Learn more: https://lnkd.in/dX2vYxMM #IA50 #impinv #sustainablefuture #water #sanitation #watercrisis Disclosure: The IA 50 Emeritus Manager award is granted by ImpactAssets, an investor in funds managed by WaterEquity. ImpactAssets assembles an annual review committee to select experienced impact fund managers who have previously achieved IA50 recognition for a period of five years. See the ImpactAssets website for additional information: https://lnkd.in/eCbK8dPg. WaterEquity did not pay any fees associated with the IA 50 Emeritus Manager Award.

Many aspects of modern society trace their roots back through history and microfinance is no exception. Mechanisms for issuing loans to destitute populations have existed in various forms in Asia for thousands of years. In Europe, Franciscan monks formed the Mounts of Piety in the 15th century to reintegrate the poorest populations into community life. Nearer to our time, the first savings and loan cooperative opened in 1879 in Germany’s Rhineland. As the first mutualist financial institution, it primarily served working populations by giving them access to credit. That same mutualist principle would continue to prosper in Europe throughout the 20th century.  But these financial inclusion models proved insufficient to stem the tide of poverty in what was still known as the “Third World” in 1970. Modern microfinance thus emerged in one of the world’s poorest countries: Bangladesh. The Grameen system turned traditional banking on its head. It offered small loans to poor populations, with no financial guarantees required in return. It also ushered in the principle of joint responsibility, which involves solidarity between the members of beneficiary groups. In 1983, the program obtained the status of a banking establishment. Grameen Bank (known as the “Bank for the poor”) was thus born and would soon record stunning growth. The bank opened many new “branches”, which are now present in over 80,000 villages. Estimates suggest that the bank has extended credit access to over seven million beneficiaries in Bangladesh, 97% of whom are women. The 1980s and 1990s saw the model exported around the world through the intermediaries of NGOs and financial institutions. Soon a full-fledged microfinance industry emerged in developing countries. Many other institutions gradually expanded the global microfinance network: dozens of microfinance institutions (MFIs) set up shop in India; BancoSo and the ACCION network opened in South America, and ADIE began operating in Europe and the Mediterranean basin. The early 21st century marked the international rise of microcredit. While the first microcredit summit took place in Washington in 1997, the G8 outlined the principles of microfinance in 2004, tracing the contours of a new economic sector. The UN named 2005 the “International Year of Microcredit”, and Muhammad Yunus won the Nobel Peace Prize in 2006.