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4IP Group attending the largest global gathering of impact investors, the GIIN Investor Forum in Paris, 29-31 Oct

30 Oct 18
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On Monday 29th of October, 4IP Group Managing Partner, Elsa Sarmento attended the half-day IRIS Upgrade Working Group Meeting aimed at facilitating an upgrade process for IRIS which will evolve IRIS from being a catalogue of generally accepted performance metrics to a comprehensive impact measurement and management (IMM) system that enables users to find specific resources, guidance, metrics, and templates based on needs and preferences.

On Tuesday and Wednesday, 30-31st of October, Elsa Sarmento will be attending the actual GIIN Investor Forum considered the global congress for the impact investing community. As the largest global gathering of impact investors and aspiring impact investors, the event serves as the vital hub for the most current information, opportunities, and connections in the field. From 4IP Group’s participation, we hope benefit and learn from the biggest leading actors in the impact investing industry in our quest to contribute to the shaping of a new future for the financial markets, e.g. through increasing the knowledge of the Impact Investing from the editing of a Handbook on Impact Investing.

From the exciting agenda drawing on the GIIN’s unparalleled experience 4IP Group in addition to attending the many plenary sessions will also be found at several of the streamed parallel sessions; refreshment & networking breaks and the drinks receptions where we look forward to showcasing our project portfolio and (ESG) advisory services as well as exploring new opportunities and potential external partnerships.

New Working Paper uploaded

29 Oct 18
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Please check our new Working Paper on contribution of Pension Funds to the supply of Impact Capital:

Supply of Impact Capital and Pension Funds


4IP Group attending UNCTAD WIF 22-26 Oct

21 Oct 18
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UNCTAD World Investment Forum 2018

On 22nd to 26th of October, 4IP Group Managing Partner and current President Christian Kingombe and 4IP Group Research Associate, Torkil Hvam Sørensen, will be attending the UNCTAD World Investment Forum 2018, at the Palais des Nations in Geneva, the United Nations Headquarters in Europe and an international business, economic development and diplomacy hub.


The UNCTAD World Investment Forum celebrating its 10th anniversary is the pre-eminent global platform for investment and development. The Forum devises strategies and solutions for global investment and development challenges. It facilitates multi-stakeholder collective action to stimulate investment in development. The Forum offers a unique opportunity to influence investment-related policymaking, shape the global investment environment, and to network with global leaders in business and politics.


This will be 4IP Group’s inaugural participation in this major event, in our continued quest to participate in the creation of increased awareness for impact investing in Switzerland and beyond, while at the same time matching Swiss, Italian, French and Danish Impact Investors with investment opportunities in Emerging and Frontier Markets (see our event showcase).


The two 4IP Group delegates are looking forward to meeting with the +5,500 investment stakeholders as represented by a unique mix of impact entrepreneurs, (impact) investors, as well as sovereign wealth fund managers, investment treaty negotiators, heads of investment promotion agencies, international investment location experts, heads of international organizations, and the members of the EMPRETEC network during this leading forum to leverage investment policy for sustainable development.


Christian and Torkil have both signed up to the UNCTAD World Investment Forum 2018 online community in order to be able to see who else is attending, start conversations with them, and to see which of our Twitter and LinkedIn connections are coming, as well as building a personal schedule of sessions which we are planning to attend. Should anyone wish to book private meetings with us, we can be reached through the UNCTAD Conference Application, but otherwise we can be found at the following Programme Sessions:


Official Opening of the Investment Village

2:00 PM – 2:15 PM, Mon, 22, Oct, 2018.

UNCTAD Youth Forum 2018: Youth Entrepreneurship: A force towards inclusive and sustainable growth globalization

2:00 PM – 6:00 PM, Mon, 22, Oct, 2018: Room XXI

See Christian Kingombe’s Book Review of ‘Youth Employment in Africa: Harnessing the power of the private sector to create sustainable work opportunities for Africa’s youth’ by World Bank. African Journal of Political Science and International Relations (AJPSIR). 2010. 85 pp.,

Grand Opening

3:00 PM – 4:00 PM, Mon, 22, Oct, 2018: Assembly Hall (3rd floor).

2018 United Nations Investment Promotion Awards

4:00 PM – 4:30 PM, Mon, 22, Oct, 2018: Assembly Hall (3rd floor)


Global Investment Game Changers Summit

4:30 PM – 6:30 PM, Mon, 22, Oct, 2018: Assembly Hall (3rd floor).

Global Leaders Investment Summit I: Investment in A New Era of Globalization

10:00 AM – 1:00 PM, Tue, 23, Oct, 2018: Assembly Hall (3rd floor).

IIA Break-out session, UNECA: Promoting transformative investment in Africa through regional integration

12:30 PM – 2:30 PM, Tue, 23, Oct, 2018: Room XXVI.

See paper Is Infrastructure the Key to Africa’s Economic Transformation?



Private Sector Solutions for Sustainable Development: ISO standards: helping to make the 2030 Agenda a reality

1:30 PM – 2:30 PM, Tue, 23, Oct, 2018: 3rd Floor, Bulding E, Exhibition Area.

Investment Promotion Conference

2:45 PM – 5:45 PM, Tue, 23, Oct, 2018: Room XXVI.

Sustainable Stock Exchanges (SSE) Global Dialogue

3:00 PM – 6:00 PM, Tue, 23, Oct, 2018: Room XVII.

4IP Group through one of its Managing Partner is affiliated, via IIX Chapter Lusaka, to the Impact Investing Exchange (IIX) which Introduced the Women’s Livelihood Bond™, which is a US$8 million bond for impact enterprises and microfinance institutions to grow their businesses and scale social impact. The world’s first listed bond with dual focus on financial and social returns, empowering the lives of over 385,000 women in Southeast Asia. We plan to roll this innovative tool for financing the SDGs in Africa via our involvement in our newly co-established “For Women In Africa”. IIX’s Impact Exchange is the world’s first Social Stock Exchange dedicated to connecting impact enterprises with capital that reflects values.


Main Obstacles and Solutions to Investments in Africa

4:00 PM – 6:00 PM, Tue, 23, Oct, 2018: Room XI (3rd floor).

See Policy paper on African growth, poverty reduction and the G-20


6:30 PM – 8:00 PM, Tue, 23, Oct, 2018: E-Building, 1st/3rd floor

Talking Business: Africa I

8:00 AM – 9:45 AM, Wed, 24, Oct, 2018: Room XXIII

Private Sector Solutions for Sustainable Development: Introduction to Blockchain for Sustainable Development

9:00 AM – 10:30 AM, Wed, 24, Oct, 2018: 3rd Floor, Bulding E, Exhibition Area

See paper How to Lower the Cost of Remittances in Africa? – CFD Financial Inclusion Series

Global Leaders Investment Summit II

10:00 AM – 1:00 PM, Wed, 24, Oct, 2018: Assembly Hall (3rd floor).

IIA Break-out session, FES, ICJ and IISD: Investment for sustainable development: incorporating investor obligations in trade and investments agreements

1:00 PM – 2:30 PM, Wed, 24, Oct, 2018: Room XXVI

Talking Business: Africa 2

1:15 PM – 2:45 PM, Wed, 24, Oct, 2018: Room XXIII


Sovereign Wealth and Pension Funds Dialogue

2:30 PM – 5:00 PM, Wed, 24, Oct, 2018: Room XXII.

4IP Group is actively involved in the ESAFON-led Swiss Impact Initiative, which is focusing on engaging with the Swiss Institutional Investors to incentivize them to allocate a higher share of their portfolio towards the Impact Investing asset class. Moreover, see our new resource publication on this topic which can be accessed here:

See also paper “Overcoming the global developmental and environmental challenges: The Role of capital markets and Institutional Investors.” Published on February 27, 2017 by Christian Kingombe.

Responsible Agricultural Investment

3:30 PM – 6:00 PM, Wed, 24, Oct, 2018: Room XXV


For the social impact investors focusing on the agricultural sector please allow us to draw your attention towards our growing portfolio here: Teasers will be delivered to interested investors upon request.

ISAR Honours 2018

5:15 PM – 6:00 PM, Wed, 24, Oct, 2018: Room XVII

For those interested in commissioning best practice on sustainability and SDG reporting from 4IP Group please get in contact with us and take a closer look at our expertise here: and here:

Private Sector Solutions for Sustainable Development: Climate-Smart Agriculture is Business-Smart, cases from Latin America

9:00 AM – 10:00 AM, Thu, 25, Oct, 2018: 3rd Floor, Bulding E, Exhibition Area.

People-first public-private partnerships

10:00 AM – 1:00 PM, Thu, 25, Oct, 2018: Room XXIV

To access a sample of 4IP Group’s most recent PPP resources please click here:

Ministerial Roundtable on Entrepreneurship

10:00 AM – 1:00 PM, Thu, 25, Oct, 2018: Room XX (3rd floor)

We will be attending this event as part of our support to the UNCTAD EMPRETEC Programme.

See most popular paper by Christian Kingombe: Review of the most recent literature on Entrepreneurship and SMEs. Input to DFID’s Wealth Creation Agenda: Making British International Development Policy more focused on Boosting Economic Growth and Wealth Creation.

Mobilizing investment for Inclusive and Sustainable Industrial Development in Africa: 1:15 PM – 2:45 PM, Thu, 25, Oct, 2018. Room XXVI

To read about how 4IP Group’s is mobilizing Sustainable / ESG / Impact Investing for impact enterprises and sustainable infrastructure projects in Emerging Markets please click here:

Family Businesses as a Force for Long Term Good

3:00 PM – 5:00 PM, Thu, 25, Oct, 2018: Room XXV

Regarding What is the role of businesses in delivering on the SDGs, particularly in emerging markets? We will be happy to discuss the role of some of the businesses in our portfolio:

Empretec Women in Business Awards 2018

6:00 PM – 7:00 PM, Thu, 25, Oct, 2018: Assembly Hall (3rd floor)

4IP Group is a founding member of the new facility “FOR WOMEN IN AFRICA”. This Association aims to promote the development of the economic and social status of women in Africa. The Association aims to promote women’s entrepreneurship in Africa in the green economy. It may, in particular:

  • Supporting the growth of micro-small and medium-sized enterprises with technical and financial support,
  • Facilitate and support the marketing of products that meet the standards of the network and ensure wide dissemination of good practices,
  • Adhere to an organization and in general help and assist by any means any establishment, association or foundation pursuing a similar or complementary object to this.

For more news and links to our future not-for-profit work within this NGO click here:


7:00 PM – 9:00 PM, Thu, 25, Oct, 2018 : Salle de Pas Perdu.


IIA Break-out session, CUTS International: Improving policy coherence to attract export oriented FDI for sustainable development: taking forward phase 3 of IIA reform: 8:00 AM – 9:30 AM, Fri, 26, Oct, 2018: Room XXVI


Creating more and better jobs through investment

10:00 AM – 1:00 PM, Fri, 26, Oct, 2018: Room XXVII

4IP Group Managing Partner spent the first almost four years of his career working to promote the ILO’s Decent Work Agenda, which was followed by writing a PhD thesis focusing on how to create more jobs using labour-based rehabilitation and construction technology on rural roads in least developed countries (Zambia): An Enquiry into the Causes and Nature of the Transmission Mechanisms between Labour-Based Rural Roads, Sustainable Growth, and Agricultural Trade in Zambia‟s Eastern Province.

See also the following paper by Christian Kingombe: Employment Effects of Foreign Direct Investment in Host Developing Countries: Survey and Trends.

Special Economic Zones: Challenges and Opportunities

10:00 AM – 1:00 PM, Fri, 26, Oct, 2018: Room XXIII

To access a think piece by 4IP Group Co-Founding Managing Partner, Dr. Kingombe, click here:

Women Entrepreneurship and the SDGs

10:00 AM – 1:00 PM, Fri, 26, Oct, 2018: Room XI (3rd floor)

Again 4IP Group is happy to discuss to objectives of the new NGO “For Women in Africa” which we have just co-founded, which focuses on this theme.


Using Blended Capital to Finance the SDGs

10:30 AM – 1:00 PM, Fri, 26, Oct, 2018: Room XXII

4IP Group founding managers are all previous senior African Development Bank (AfDB) officials. 4IP Group recently joined the Swiss Impact Investing Association (SIIA). 4IP Group also founded the IIX Chapter Lusaka: , which is a global initiative run by local leaders to connect the Wall Streets of the world with the backstreets of our communities. Together, IIX Chapters will explore the positive relationship between financial profit and positive impact by creating local communities of professionals across sectors that collaborate to achieve sustainable development and equitable growth in their cities.

4IP Group is similarly in the process of establishing a Global Steering Group for Impact Investing (GSGII) National Advisory Board in Lusaka, Zambia, which will be the first LDC joining the Impact Revolution led by Sir Ronald Cohen & GSGII: For more information click here:

Forum Outcome and Closing

5:00 PM – 6:00 PM, Fri, 26, Oct, 2018: Room XX (3rd floor).



6:00 PM – 8:00 PM, Fri, 26, Oct, 2018: Investment Village.


See you next week at the Palais des Nations.



4IP Group attending the GSGII Impact Summit 2018 “The Power of Impact: Driving to Tipping Point 2020”, New Delhi, India, 7-9th October 2018

05 Oct 18
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4IP Group Managing Partner and current rotating president, Christian Kingombe, and 4IP Group Zambian Pipeline Officer & IIX Chapter Lusaka Lead, Haggai Chomba, will be attending the Global Steering Group for Impact Investing (GSGII) Impact Summit “The Power of Impact: Driving to Tipping Point 2020”, 7-9 October in New Delhi, India.

4IP Group has a wealth of exciting impact investing projects in our pipeline, including an exciting Affordable Housing (Sun City – Athi River) project South of Nairobi, Kenya; a Solar Power (Africa Utility Solar) Fund focusing on Sub-Saharan Africa; several wind power parks (Naxxar 1-4) in Romania; Biofuel (Green Fuel Sugar Estate and Ethanol Production Plant) project in Zimbabwe; Fruit Juice project in Guinea; PPP transport infrastructure projects in Tanzania and Uganda as well as numerous small, medium and large scale impact enterprises operating from Zambia.

As on-going Impact Investing Market Builders in Zambia, hitherto through the Impact Investing Exchange (IIX) Chapter Lusaka, we are looking forward to participating in the GSGII Summit’s first day’s Workshop for National Advisory Boards (NABs) and potential future NABs on Sunday October 7 in order to get to know existing, new and potential future NAB members from around the world as well as exploring and learning more about the following categories: NAB Structure & Governance, NAB Leadership, NAB Communication & Education, NAB Sustainability, NAB Delivery & Achievements in Market Building, Other Market Building topics?

During the remaining part of the GSGII Summit we are looking forward to in-person conversations with impact investors regarding our above mentioned impact investment pipeline and to meet with other 900 impact leaders of the global impact investing ecosystem engaged with key issues pertaining to demand; supply; intermediation; policy & regulation; and Market Building as the five core building blocks of the global impact investment eco-system issues. See you in New Delhi.



Impact Investing and Sustainable Development: Which Contribution?

28 Sep 18
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By Torkil Hvam Sørensen & Christian Kingombe, 4IP Group, 25 September 2018

4IP had the pleasure of attending a seminar on impact investing organised by the Geneva Chamber of Commerce, Industry and Services (CCIG). With the title Impact investing: quelle contribution au développement durable? [Impact investing: What contribution to sustainable development?], the seminar invited three speakers to present their thoughts on the industry’s current status and road ahead.

Bernd Balkenhol Professor of Micro-Finance and Financial Inclusion from the Geneva School of Economics and Management (GSEM) and member of Geneva Finance Research Institute (GFRI) as well as founder of the ILO’s Social Finance Programme, argued that while impact funds certainly represent much-required influx of capital to financing the SDGs, investors should also look beyond impact investing and consider ESG impact. The current ratio of impact investments, Professor Balkenhol continued, is skewing towards financial services (19%) energy (14%) and Microfinance (9%).[1] Professor Balkenhol urged investors to spread investments to areas that also require enormous injections of capital, such as Affordable Housing, Health, Access to Education and Healthcare as well as WASH. Among the many challenges that lie ahead for impact investing, Professor Balkenhol mentioned verification and certification, access to time series data, harmonisation of measures, and a set of standardisation impact measures. Green washing from mainstream asset managers is furthermore a concept that could potentially discredit the impact investing industry, as a dedicated niche of sustainable investing. Many investors are playing with the right words and declaring green and social impact in report mechanisms, while in reality the investments have little real substance. To overcome this large risk to the impact investing sector, Patrick Scheurle, the chief executive officer of Blue Orchard Impact Investment Managers, recently told ESG Clarity that “In our interpretation, impact investing requires an active element. It is investing with the intent to make a positive difference, to actively engage with the investees to translate that investment into making a difference. At the reporting level they need to measure and report on their achievements.”

Guillaume Bonnel from Banque Lombard Odier & Cie presented how his bank has transformed its conventional investment strategy five years ago to respond to services needed in developing countries. Since then the bank’s investment portfolio has to a higher degree steered its investments towards impactful projects. Lombard Odier aligns impact investments with three pillars: Inclusive finance, Sustainable agricultural development, and SME Impact (access to energy, water and education). To date, the bank has invested in, among others, microfinance to women in India, provided capacity-building farmers in Peru to obtain Fair Trade labels, provided access to energy in Tanzania and West Africa through solar panels, and funded WASH projects in Colombia. Mr. Bonnel mentionned how ICT has leapfrogged in developing countries and how this development have helped the bank’s projects in Africa. On a final note, Mr. Bonnel touched on the subject of Green Bonds that pioneered in Geneva 10 years back and a market with defined use-of-proceeds that has grown by 159% year on year since 2013. Lombard Odier is involved in areas where green bonds can help reduce carbon emissions while being deemed to help in the fight against climate change and support the United Nation’s 2015 Sustainable Development Goals (UN SDGs). This will require substantial investments from private capital markets (to complement government and philanthropy). But the UN SDGs also provide significant opportunities for investors. According to a report by the Business and Sustainable Development Commission, achieving the SDGs could open USD 12 trillion of market opportunities and create 380 million new jobs by 2030. Impact investors have answered this call by tailoring products and funds to specifically address the SDGs as presented by Lombard Odier at the CCIG seminar. Moreover, Fifty-five percent of the GIIN respondents track the performance of at least some of their impact investments to the SDGs, a quarter of which noted that doing so helps them conceive of new investment strategies and opportunities.

Neville White, the head of SRI policy and research at EdenTree Investment Management stated that “The limitations of the UN SDGs become apparent when utilised as a framework for measuring impact of portfolios. The overlay tools hurried to market so far seek to apply simple metrics to complex business models in a bid to provide a comparative, quantitative impact ratings methodology. While this approach seems straightforward at first glance, our deeper analysis shows several weaknesses embedded in these methods. Not least, the data available from companies on operational impact is limited.” Hence, it was very pertinent that the last speaker of the GGIG event was Sylvain Massot the Chief Financial Officer from IMPAAKT. Mr. Massot began his presentation by adhering to the GIIN definition of impact investing, which emphasises that only companies that have true social and environmental intentions may consider their investments impactful. He continued by arguing that conventional Private Equity (PE) measures may not be useful indicators to assess potential impactful investments. Also, Mr. Massot touched on the subject of regulation, mentioning Article 173 of the French Energy Transition Law, which came into force on 1 January 2016. “It strengthened mandatory carbon disclosure requirements for listed companies and introduced carbon reporting for institutional investors, defined as asset owners and investment managers.” Lastly, Mr. Massot addressed the lack of a unified or centralised institution or measure to determine impact. For example, Mr. Massot questioned Nestle’s impact investments and called for a unified solution in the industry. To achieve this, more collective intelligence and real time data should be shared in the impact investing community. In other words, IMPAAKT believes that “we can all participate in changing the world for the better by inciting businesses to become a driving force for good. For this to happen, we need to measure the real impact that companies have on the planet and society. We need to gain knowledge on how their operations and products affect our very lives for better, or for worse. So that we can invest in, buy from or work for the companies that bring the most positive contribution to our world.”

The CCIG seminar was concluded by a panel discussion with the three speakers and Andrea Baranzini from Haute École de Gestion (HEG-) Geneva. Among the many insightful thoughts that were shared during this panel debate, the topic of impact measurement was further discussed. A point was also raised that while ESG ratings, e.g. designed to help investors identify financially material sustainability-related risks, is a good practice, it does not always provide the needed solutions to fulfil the SDGs.

[1] See Figure ii: Sector allocations by AUM and percent of respondents in the eighth edition of the GIIN’s Annual 2018 Impact Investor Survey, which provides a detailed look at a diverse, dynamic, and growing impact investing market. In 2018 GIIN received responses from 229 organizations that collectively manage USD 228 billion in impact investing assets.

Tunisia PPP international Forum

22 Sep 18
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4IP Group represented by Managing Partner Thibaut Mourgues attended on September 18th the Tunisia PPP International Forum.  The event was organized by the Tunisian Government with the support of IFC and EBRD.

Over 200 international investors and interested parties attended the forum in addition to 1.000 Tunisian participants. The Tunisian Government, led by the Prime Minister Mr. Youssef Chahed, introduced an impressive PPP pipe-line of over 30 projects at various stages of preparation.  The most advanced projects pertain to the transport and energy sectors, amounting to more than 5 bn euros. The Government indicated that despite the tense financial situation, their sound economic policy will favour sustainable growth, addressing unemployment and regional disparities issues.

As all speakers mentioned the key to PPP success is the quality of preparation, combined with the involvement of world class advisers that donors are ready to support. In this context, following to talks with PPP Unit top management, 4IP group is well positioned to support the implementation of a PPP program which benefits citizens, while attracting international investment interest.

Zug Impact Summit Earth and Finance

20 Sep 18
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4IP team with Deniz Erkus, from SIIA

On 17th and 18th of September, 4IP Group Managing Partner and current President Christian Kingombe and 4IP Group Research Associate, Torkil Hvam Sørensen, attended the Third Annual ZUG IMPACT SUMMIT, entitled “Earth and Finance”. Earth & Finance was this year’s summit theme, looking into ways to improve the livelihoods of people and conserve and regenerate the planet. The Zug Impact Summit took place at the Theatre Casino Zug in Switzerland.

This was 4IP Group’s inaugural participation in this event as Alliance Partner of the Swiss Impact Investing Association (SIIA), in our quest to participate in the creation of increased awareness for impact investing in Switzerland, while at the same time matching Swiss Impact Investors with investment opportunities in Emerging and Frontier Markets (see our event showcase). The two 4IP Group delegates met with a unique mix of entrepreneurs, impact investors, and thought-leaders.

The SIIA Zug Summit gathered numerous inspirational speakers, such as Rodney Schwartz Founder, ClearlySo, Martin Palmer Secretary General, Alliance of Religions and Conservation, along with world-class educators, like Robert Rubinstein Chairman from TBLI Group. The second day of the event featured four practical showcases of Gender Equality Investments; five Female Founders pitches and finally, an impressive 18 Water and Sanitation pitches, as part of the Innovate 4 Water part of the programme.

We look forward to building on our exchanges with you to achieve objectives beyond just financial returns.




Impact Investing and Purpose driven leadership

11 Sep 18
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On 5th of September, Christian Kingombe, Managing Partner 4IP Group, gave a lecture on Impact Investing and Purpose Driven Leadership at the Geneva Global Leadership Programme. This Global Leadership programme provides senior university students and young professionals with an in-depth briefing and exposure to the global policy debates on issues related to different aspects of sustainability and governance of the global system.

For more information about This 4th edition of the Geneva Global Leadership Study (GGLS) organized by CSEND, click here:

Newsletter n6

02 Aug 18
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4IP group newsletter covering Q2 2018 is published. Read it here:  Newsletter Q2 2018


03 Jun 18
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On May 30th , 4IP Group LLC hosted at the Impact Hub Geneva the SECOND IMPACT WORSHOP MEETING of the ESAFON led by the SWISS IMPACT INITIATIVE.

The objective of the meeting, which was attended by a representative group of the Geneva Impact Investing Eco-system, was to discuss how the new Swiss Impact Initiative could foster the development of the impact investment market globally from Switzerland. This would take advantage from the fact that the Swiss market already plays a leading role in global impact investment and as such has the potential to significantly influence and scale impact globally. Following the European Commission’s March 2018 report «Incorporating sustainability when providing financial advice» several concrete action plans were agreed upon, which will be disclosed in due course.

Stay tuned as this important initiative is being rolled out.