New UK taskforce launched for overseas impact investing

A government supported UK taskforce has been created with in an effort to push worldwide impact investing, particularly in Africa, while working towards developing an internationally accepted reporting standard by the close of 2021.

The newly launched Impact Taskforce will be chaired by Nick Hurd, the UK’s former civil society minister, and operated by the Global Steering Group (GSG) for Impact Investment and the Impact Investing Institute.

The GSG recently announced that the taskforce will:

“…propose solutions to harness private capital at scale for public good.”

The endeavour is being funded in part by the UK’s government under its G7 presidency in 2021. It is expected to run until near the conclusion of the UK’s presidency period this December, but those involved have expressed hopes that it will continue and become a “multi-year process” that future G7 leaders will adopt. Indonesia, a developing economy, will hold the chair in 2022, with this being the first occasion in the Asian nation’s history.

The new government-backed taskforce has been planned to have two individual working groups. The Impact Investing Institute will be charged with overseeing recommendations for the creation of financing vehicles capable of at-scale mobilisation of private capital, while GSG will be overseeing efforts to harmonise how investors and firms account for and report on impact.

Enterprises, organisations and private individuals searching for unbiased investment advice in Chester, Manchester, London, and other UK major cities can look to wealth management firms for expert financial guidance.

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