To save billions of people from hardship we must urgently put social and environmental impact at the heart of our economies

Global Steering Group for Impact Investment 2020 Impact Summit: Leaders’ Declaration for a just and sustainable future, addressed to G7 and G20 Leaders, Finance Ministers and Central Bank Governors

The Covid-19 Crisis has created an urgent need for a just, impact-led recovery that serves all people and preserves our planet. It presses us to change our ways, so that we can better address the great social and environmental challenges ahead of us. To save billions of people from greater hardship, it is urgent that we bring impact to the heart of our economies and put the following into action:

1. Scale impact investment to combat unemployment, reduce inequality and preserve the environment

Introduce incentives to accelerate impact investment, which seeks social as well as financial returns in order to create sustainable jobs, advance education, improve healthcare, and fund the expansion of non-profit organizations that support the most vulnerable.
Spur investment into small and medium-sized impact-driven businesses and high-growth impact ventures in developed and developing countries, to create millions of new jobs. Since many large companies are streamlining their operations and eliminating jobs, impact growth ventures and SMEs provide the best route to creating new jobs and supporting the recovery.

2. Mandate impact transparency for companies

Establish impact transparency by mandating that companies publish audited financial accounts that reflect their social and environmental impacts. This will provide ESG investors and consumers with the transparency they need to hold businesses accountable for the harm they cause and reward them for the positive impact they create.

3. Introduce legislation to empower companies and investors to pursue impact

Shift our economies away from profit alone to profit and impact. Amend legislation and regulations to allow companies, pension funds and charitable endowments to base their decisions on return and impact.

We are at an historic crossroad. Our future is in our hands. There has never been a greater need or a greater time to transform our economies so they better serve society and preserve our planet. We call on everyone – governments, citizens, consumers, investors, companies and philanthropists – to support implementation of these measures and pave the way to a fairer and more sustainable world.

Please take action to help achieve a just and impact-led recovery, by signing the declaration here.

Signatories:

Sir Ronald Cohen, Chair, Global Steering Group for Impact Investment
Cliff Prior, CEO, Global Steering Group for Impact Investment
Darren Walker, President, Ford Foundation, GSG
Dame Elizabeth Corley, Impact Investing Institute, UK
Ibukun Awosika, Chair, First Bank of Nigeria
Emmanuel Faber, Danone
Mauricio Macri, Former President of the Argentine Republic
Juan Yermo, OECD
His Eminence Cardinal Peter K.A. Turkson, Vatican Dicastery for Promoting Integral HumanDevelopment
Lord Jacob Rothschild
Ngaire Woods, Dean, Blavatnik School of Government at Oxford
Herman Wijffels, Former Dean, Rabobank
Sir Harvey McGrath, Big Society Capital
Baroness Minouche Shafik, Director, London School of Economics
Sir Michael Barber, Delivery Associates
Brigitte Mohn, Bertelsmann Foundation
Paul Polman, IMAGINE (formerly Unilever)
Bertrand Badré, Blue like an Orange Sustainable Capital (Formerly World Bank)
Carolina Stanley, Former Minister, Argentine Republic
Sir Roger Gifford, UK Green Finance Institute
Ilse Treurnicht, Triphase Accelerator
Amit Bouri, Global Impact Investing Network
Ludovic Subran, Allianz
Michele Giddens, Bridges Fund Management
Jim Sorenson, The Sorenson Group
Isabel Mota, Calouste Gulbenkian Foundation
Horacio Pavez, The Impact, GSG Chile
George Serafeim, Harvard Business School
Karen Karniol-Tambour, Bridgewater
Laura D’Andrea Tyson, Former Dean, London Business School, Haas School of Business at Berkeley
Christophe Itier, French Minister
Elizabeth Boggs Davidsen, UNDP
Ray Dhirani, World Wildlife Fund
Nick O’Donohoe, CDC, GSG UK
Prinz Max of Liechtenstein, LGT
Sir Harry Solomon, Portland Trust
María Eugenia Vidal, Former Governor, Province of Buenos Aires
Urs Wietlisbach, Partners Group
Sir Mick Davis, Portland Trust
Don Gips, Skoll Foundation
Halla Tómasdóttir, B Team
Carsten Stendevad, Bridgewater Associates
Ross Piper, Christian Super
Catherine Clark, Duke University
Celia Cruz, Instituto de Cidadania Empresarial, GSG Brazil
Paul Brest, Former Dean, Stanford University Law School
Giovanna Melandri, GSG Italy, Human Foundation, Former Minister
Mike Kubzansky, Omidyar Network
Mario Quintana, formerly Cabinet Office, Argentine Republic
Mairi Mackay, British Council
Patrick Gaspard, Open Society Foundations
Vikram Ghandi, Harvard Business School
Dr. Amel Karboul, Former Minister, Tunisia
Dolika Banda, Education Outcomes Fund
Matt Bannick, Stanford Graduate School of Business, GSG USA
Kate Byrne, President, SOCAP
Nicola Cobbold, GSG UK
Ashish Dhawan, Ashoka University
Yvonne Bakkum, FMO Investment Management
Masataka Uo, Japan Fundraising Association, GSG Japan
Laurie Spengler, GSG UK
Rosemary Addis, Impact Strategist, GSG Australia
Maria Laura Tinelli, Acrux Partners, GSG Argentina
Sarah Gordon, Impact Investing Institute UK
Tracy Palandjian, Social Finance USA
Yael Almog, Former CEO, IFRS Foundation
Nick Hurd, Former Minister, UK, GSG
Andrés Pesce, Ideas Impact VC
Clara Barby, Impact Management Project
Sultana Afroz, Prime MInister’s Office, Bangladesh
Christian Heller, Value Balancing Alliance
Andrew Kassoy, B Lab
Ulrich Grabenwarter, European Investment Fund, GSG
Eric Rice, BlackRock
Nigel Kershaw OBE, The Big Issue Group and The Big Exchange
René Karsenti, ICMA
Dr François Bonnici, Schwab Foundation for Social Entrepreneurship
Fran Seegull, U.S. Impact Investing Alliance, GSG
Steven Serneels, EVPA – European Venture Philanthropy Association
Kieron Boyle, Guy’s and St Thomas’ Charity
Tony Burdon, Make My Money Matter
Gerbrand Haverkamp, World Benchmarking Alliance
Dr. Andy Kuper, LeapFrog Investments
Elias Masilela SOB, DNA Economics, GSG South Africa
Alejandro Preusche, Almado, GSG Argentina
Mario Calderini, Politecnico di Milano, GSG Italy
Marilou van Golstein Brouwers, BLab Europe, GSG Netherlands
Sebastian Welisiejko, National Ministry of Social Development, Argentina, GSG
Charles Conn, Patagonia
Nick Robins, London School of Economics
Sean Hinton, Open Society Foundations

All signatories to the declaration can be viewed here