The Social Impact Investment Forum, a G8 event, was held on 6 June 2013.
As part of the UK’s G8 presidency this year, the Prime Minister asked for an event focusing on social investment. There is emerging interest from G8 member states, industry and civil society in the social investment market, with the G8 countries driving this developing global agenda.
Read a fact sheet about social investment.
This event, which is the first to use the G8 platform to discuss social investment, provided an opportunity both to showcase the UK as world leaders in this market; and to help start the processes and discussions which will enable the market to operate effectively on a global scale. Find out more about the attendees and some of the initiatives announced.
The Prime Minister delivered a speech to open the conference. In his speech, he announced 3 main developments:
- tax breaks for social investments
- a Social Stock Exchange to measure how successful those social investments are
- help for communities who want to buy local assets
Read the transcript of the Prime Minister’s speech for more on these developments.
The day featured keynote addresses from George Soros, the Rt Hon Iain Duncan Smith MP, Dr Judith Rodin, Colin Grassie, Sir Ronald Cohen and the Rt Hon Francis Maude MP.
About the forum
The day consisted of 3 sessions.
The first session focused on demonstrating the potential of the social impact economy. This session explored the differing motivations that have led to these various approaches and highlighted the wide range of beneficial results, as well as the lessons learnt.
The second session examined the potential for social impact investing in international development. Social impact investment offers an exciting opportunity to encourage private capital into developing countries, working towards the achievement of the Millennium Development Goals.
Having heard about why government, investors and philanthropists are interested in the market, the final session explored the steps needed to enable the market to operate effectively on a global scale. In addition, there was a trade fair showcasing the UK’s social investment market, as well as breakout sessions which provided an opportunity for in-depth learning on market innovations.
About social investment
View an infographic on growing the social investment market.
Read a blog post by Steve Goldberg, US Independent Social Investment Adviser.
Social enterprise: market trends, based on the BIS Small Business Survey 2012, explores the social enterprise sector in greater depth and reports on the updated size and characteristics of the sector.
Vision and strategy
These reports set out the government’s vision of a thriving social investment market where social ventures can access the capital they need to grow, allowing them to do more to help build a bigger, stronger society. You can also read about key achievements since the publication of the government’s original vision and strategy for growing the social investment market as well as wider developments in the market.
Big Society Capital
Set up in April 2012, Big Society Capital is an independent financial organisation that aims to support and develop social investment in the UK and is supplied with up to £400 million from England’s dormant bank accounts and £200 million from the 4 largest UK high street banks.
Watch a video showing how Big Society Capital has helped to make a difference in local communities.