Growth-focused “modern industrial strategy” pledges to align economic value with social outcomes through impact investment and procurement with social enterprises – but falls short on some expectations from purpose-led businesses.
£440m of dormant assets is allocated in new government strategy, including £87.5m for social investment and a commitment to follow sector recommendations – but the amount remains ‘modest’ in the face of current challenges.
What does the optimism of 2012, expressed by Jonathan Greenblatt, Nick Hurd, Dame Caroline Mason and more in the first edition of our weekly newsletter, look like 13 years later? This week’s view from the Pioneers Post newsroom.
This week: Bill’s Gates to close in 20 years; Char Love joins House of Hackney to stand up for nature; OpenAI’s public benefit corporation restructure confirmed – and more.
This week: Syria’s first hackathon unites social innovators to support recovery; UK government backs social enterprise in public procurement rules shake-up; Alfanar’s MENA impact fund launch is “good news for impact investing”.
Thirteen representatives of impact investors, local government, asset managers and institutional investors will advise the Treasury on the development of a new social impact investing vehicle – but no social entrepreneurs are included.
USAID's near-shutdown is a reminder of the importance of catalytic capital in impact investing – and also of the question of whether access to cheaper money is necessary for impact investing to really work.
Independent review finds UK's social investment wholesaler has driven growth in lower-risk funds but frontline social investors say more catalytic capital is needed.
