If you had £25,000 to save, where would you put it? Apart from rates of interest, financial returns and set up fees do people really care where that money goes?
According to a recent survey by the UK Government’s Department for International Development (DFID) nearly 40% of over 6000 respondents suggested they would “accept a lower return if it made a difference to something they really cared about.”
2030hub hosted DFID for an event in Liverpool as part of their National Conversation on Investing for the Global Goals aiming to:
“Find out more about the public’s views on and interest in ethical, responsible, and impactful investment practices. This includes investing in companies or sectors that make positive change in the world, like renewable energy. This also means avoiding investing in companies that do harm, for example, companies that employ child labour in the developing world.”
Yes, there is always a gap between stated intentions for surveys and real world actions. Yes, the devil really is in the detail here, and the very first word of this article is useful to remember, but the world of finance really needs to be the route to climate (and social) salvation.
Impact investing is rapidly growing
This is not uniquely the land of the mythical millennials either. There is growing evidence that older generations are eager to use their financial investments for impact too, and this group has the money now, not the incoming $30 trillion of inheritable funds to be passed down.
Old tools and behaviours probably won’t deliver modern impacts. The climate emergency increasingly dictates the need for innovation and bold, rapidly scalable approaches. Tickr is one such locally based pioneer pushing the boundaries through fintech. Co-Founders Matthew Latham and Tom McGillycuddy created a sustainable investment app to make impact investing available to a wider mainstream audience. Think this is niche or just a nice idea? Tickr have over £1 million of recently crowdfunded finance that suggests there is ample concrete appetite, and quite possibly only the tip of an iceberg.
DFID’s role is implicitly about international development, and the connection through the SDGs also implies that we should focus on the furthest behind first, and many of those are overseas.
2030hub would like to share a huge thank you to our wonderful event Moderator Debbie Ryan (CEO of Impact Investment Network), all our expert panellists (Sean Fisher from Pennine Wealth Solutions, Owen Thorne from Merseyside Pension Fund, Matt Latham from Tickr and Sally Seddon from Shared Interest) and a special thank you to the engaged Liverpool audience for filling a magnificent room with their energy and passion at such short notice.
The future felt bright.