Social impact investing takes center stage at NYSE

    The New York Stock Exchange. Photo by: Jean-Christophe Benoist / CC BY

    When the New York Stock Exchange closes on Monday, the closing bell will sound the call on social impact investing and its potential to tackle some of the world’s greatest development challenges.

    In a symbolic traditional on the trading floor of the world’s financial capital, the bell ringers will be representatives of the U.S. National Advisory Board to the Social Investment Task Force, an initiative launched in connection with last year’s G-8 Summit in the United Kingdom that hopes to accelerate impact investing, develop standards for measurement and promote cooperation between foundations, institutions and investors.  

    Among the attendees from the group’s 27 thought leaders will be Jean Case, CEO of the Case Foundation; Elizabeth Littlefield, president & CEO of the Overseas Private Investment Corp.; and Kristin Groos Richmond, founder and CEO of Revolution Foods.

    The bell ringing is expected to help build the momentum around what is seemingly becoming a noteworthy conversation for development, and comes on the heels of considerable discussion about the importance of development impact bonds and a commitment by the U.K. Department for International Development to strengthen the still-new funding mechanism at last week’s first high-level meeting of the Global Partnership for Effective Development Cooperation in Mexico City.

    In the coming months, U.S. National Advisory Board to the Social Investment Task Force plans to make recommendations on how to boost impact investing in global development efforts.

    Join Devex, the largest online community for international development, to network with peers, discover talent and forge new partnerships — it’s free. Then sign up for the Devex Impact newsletter to receive cutting-edge news and analysis every month on the intersection of business and development.

    About the author

    • Adva Saldinger

      Adva Saldinger is a Senior Reporter at Devex, where she covers the intersection of business and international development, as well as U.S. foreign aid policy. From partnerships to trade and social entrepreneurship to impact investing, Adva explores the role the private sector and private capital play in development. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.