Stockholm (NordSIP) – Norrsken, Skandia, Fryshuset, SEB, Kommuninvest, PwC and 19 other organisations launched the Swedish National Advisory Board (NAB) for Impact Investing.
The market for impact investments is growing rapidly both in Sweden and abroad and estimates value it at over US$500 billion globally. Impact investments gather the capital market, the public sector, private companies and idea-based organisations to solve major societal challenges jointly. However, navigating the wide range of local conditions, governance models, regulations and organisational approaches in this market segment can be difficult.
To answer this challenge and create the right conditions for impact investments in Sweden, 23 organisations from both the private and public sectors launched the Swedish National Advisory Board for Impact Investing, a nonprofit organisation.
“Impact investing spans several sectors that are not always used to working together,” says Johan Rippe, Vice President of PwC in Sweden and Chairman of the Association’s Board of Directors. “Asset managers, entrepreneurs, the public sector, non-profit organisations and intermediaries all play an important role in directing capital to socially-minded companies that generate both financial returns and measurable positive impact. That is why it is so important that we now gather and ask the questions that will drive the growth of the impact economy in Sweden.”
The Swedish NAB for Impact Investing will work to set a national impact investing agenda that addresses (1) demand for impact innovation, (2)access to investible impact companies and community promotion efforts, (3) access to capital (financial instruments for impact investments) and (4) models and methods for measuring, measuring and controlling against impact.
“The association’s purpose is to create solutions and conditions for impact investments to continue to grow in Sweden. The goal is for impact investing to become an obvious part of the financial market, the ecosystem of innovation and the public sector’s range of solutions,” says Frida Korneliusson, board member of the association. “Therefore, we look forward to more organisations, from all sectors, joining the association and contributing to setting the national agenda.”
In October, the Board will submit the official application for the association to join The Global Steering Group for Impact Investing (GSG), as one of 22 National Advisory Boards for Impact Investing worldwide.
“By being a part of GSG, we will be able to influence the international agenda for impact investing and gain knowledge from our new global partners. This will facilitate the work at home and help create the right conditions for growing impact-economics,” says Maria Björholt, CFO at Norrsken and member of the association’s board.