A small group of thought leaders met in Bellagio, Italy in February to discuss the formation of a Global Social Investment Exchange. Initiated by GreaterGood South Africa, the conference laid the foundations for a coordinating body for social investment platforms.
Social investment platforms and stock exchanges are being developed or already operating in several countries. GreaterGood SA’s South African Social Investment Exchange (SASIX) is at the forefront of this movement. Since its launch in June 2006, it has raised over R22.5 million for good causes in South Africa. As more people are realizing that donations alone are not enough to solve the major problems we face globally, platforms like SASIX have grown out of the need for effective, sustainable investment in social development that generates measurable returns.
The Bellagio conference was convened to consider the possibility of, and develop the framework for, a unified Global Social Investment Exchange (GSIX). Organized and hosted by the GreaterGood SA Trust with the support of the Rockefeller Foundation, the conference brought together 30 thought leaders from the fields of finance, microfinance, philanthropy, policy, research and social enterprise.
Delegates reached consensus around the need for a coordinating body with a structure and interrelationship similar to the World Federation of Exchanges (WFE) and its member exchanges. Various strategic partners and allies were identified, notably the Organisation for Economic Cooperation and Development, the World Federation of Exchanges and the Global Impact Investing Network.
It was decided that GreaterGood SA founder, Tamzin Ractliffe, would lead the effort, incorporating input from the conference into a revised proposal for a coordinating body of social investment platforms. ‘While there is not yet a single road ahead,’ says Ractliffe, ‘the opportunity to consolidate existing uncoordinated efforts and bring together the many emergent exchange models to create an effective marketplace at this critical moment is one well worth seizing.’
For more information
Contact Tamzin Ractliffe at firstname.lastname@example.org