In 2016, government appointed Elizabeth Corley, Vice Chair of Allianz Global Investors, to chair an industry-led Advisory Group looking at how to grow a culture of social impact investment and savings in the UK. The group included senior representatives from across the investment and savings industry. Read more about the launch of the Advisory Group in this press note.
The Advisory Group published its report in November 2017, setting out the following five key areas of recommendations:
- Improve deal flow and the ability to invest at scale
- Strengthen competence and confidence within the financial services industry
- Develop better reporting of non-financial outcomes
- Make it easier for people to invest
- Maintain momentum and build cohesion across initiatives
In February 2018, Prime Minister Theresa May asked Elizabeth Corley to form an industry follow-up taskforce to lead on the implementation of the recommendations. Read more about the meeting in this press note.
This is an HM government response to the Advisory Group’s report five areas of recommendations, outlining any policy work that is in progress or planned. The response reaffirms a strong commitment from government to partner with the taskforce and the wider financial services industry to bring social impact investing to the mainstream.
Government will provide a further short update on progress in winter 2018.