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.
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About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. 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.
