Government role in market development crucial
The Australian government is playing an important role in developing a ripe market for impact investing, which is being favourably emphasised in the release of its new social impact investing discussion paper, according Impact Investing Australia.
The paper, which was launched on 28 January, indicated that funding impact investments would be the key to the creation of an enabling environment. Impact Investing Australia chair, Rosemary Addis, said it was a positive move and time the government focused on market opportunities that could benefit the greater good.
"Impact investing holds enormous potential to address some of our most intractable societal challenges, by unlocking additional forms of capital and finding innovative solutions," she said.
"We are pleased the government is examining the role it can play in developing the impact investment market …and realising the opportunities impact investing offers."
Addis said government involvement and financial backing were vital for the development of impact investing in Australia, and would be a reflection on the effects government leadership and policy initiatives could have on catalysing strong market activity.
"The Australian government has a critical leadership role to play," she said.
"Impact investing provides government with a powerful tool for delivering better societal outcomes for people and communities."
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