Social Impact Investment Taskforce, launched by the G8
The Social Impact Investment Taskforce aims to catalyze the development of the global social impact investment market. It was launched following the June 2013 G8 Social Impact Investment Forum in London, under the chairmanship of Sir Ronald Cohen.
The Taskforce will publish a report in September 2014, highlighting recommendations for developing this market.
The Taskforce membership includes one government official and one non-government expert with experience in finance, business or philanthropy, from each participating country. Most G8 nations, as well as the European Union, are represented. Australia has observer status.
Canada is represented by Siobhan Harty, Director General of Social Policy, Employment and Social Development Canada (ESDC), and Ted Anderson, Director of the MaRS Centre for Impact Investing (MCII).
Taskforce meetings are intended to focus on the state of the social impact investment market in the host region, and on the infrastructure required to build a global market. Meeting locations and dates include: Washington (October 2013), London (December 2013), Berlin (February 2014), Paris (April 2014), London (June 2014), and Rome (post-publication, October 2014).
The Taskforce is being supported by National Advisory Boards, as well as by thematic Working Groups focused on impact measurement, asset allocation, mission alignment, and international development.
Further information can be found here.
What is the role of the MaRS Centre for Impact Investing?
Ted Anderson, Director of the MaRS Centre for Impact Investing, was asked to serve as the non-government representative for Canada on the Social Impact Investment Taskforce. With deep sadness, we regret to inform that Ted Anderson passed away this past spring after a long battle with cancer. His replacement is now Tim Jackson, Senior Advisor Capital Solutions, MaRS Discovery District.
In addition to serving on the Taskforce, non-government representatives are chairing National Advisory Boards – expert groups tasked with providing input to the Taskforce. The MaRS Centre for Impact Investing acts as the secretariat for Canada’s National Advisory Board.
Members of the National Advisory Board include:
- Co-Chair: Ilse Treurnicht, CEO of MaRS Discovery District and Chair of the Canadian Task Force on Social Finance
- Co-Chair: Tim Jackson, Senior Advisor Capital Solutions, MaRS and Director of the MaRS Centre for Impact Investing
- Derek Ballantyne, CEO, Community Forward Fund
- Andy Broderick, Vice President, Community Investment, Vancity Credit Union
- Tim Brodhead, Interim President and CEO of the Pierre Elliott Trudeau Foundation and former President and CEO of the J.W. McConnell Family Foundation
- Tania Carnegie, National Executive Director, Community Leadership, KPMG Canada
- Wayne Chiu, Founder and Director, Trico Developments Corporation and Chairman, Trico Charitable Foundation
- Stacey Corriveau, Executive Director of the BC Centre for Social Enterprise
- Garth Davis, CEO, New Market Funds
- Tim Draimin, Executive Director, Social Innovation Generation
- Brian Emmett, Chief Economist, Imagine Canada
- Martin Garber-Conrad, CEO, Edmonton Community Foundation
- Stanley Hartt, Counsel at Norton Rose Fulbright and former Chairman of Macquarie Capital Markets Canada
- Edward Jackson, Associate Professor, School of Public Policy and Administration and Senior Research Fellow, Centre for Community Innovation, Carleton University
- Tim Jackson, Senior Advisor, Capital Solutions, MaRS Discovery District, former Vice President, University Relations, University of Waterloo, and founder of Tech Capital Partners
- Diane Kelderman, President and CEO, Atlantic Economics and CEO, Nova Scotia Cooperative Council
- Pierre Legault, CEO, Renaissance
- Marguerite Mendell, Associate Professor, School of Community and Public Affairs, Concordia University
- Nancy Neamtan, President and Executive Director of the Chantier de l’économie sociale
- Joel Solomon, CEO, Renewal Funds
- Coro Strandberg, Principal, Strandberg Consulting
- Rosalie Vendette, Senior Advisor, Socially Responsible Investment, Desjardins Group
- Jean Vincent, President and General Manager, Native Commercial Credit Corporation
- Bill Young, President of Social Capital Partners
At the January 15th meeting of the National Advisory Board, participants discussed policy priorities for catalyzing the impact investment market in Canada. Building on the 2010 recommendations of the Canadian Task Force on Social Finance, two priorities were identified as topics for issue papers that will be submitted to the Taskforce:
- Rethinking the non-profit / for-profit divide: Income Tax Act (ITA) restrictions on the business activities of non-profits and charities; and
- Catalytic capital: The Government’s role in capitalizing social impact investment funds and reducing risk.
These papers will describe key obstacles to impact investing and suggest next steps for addressing them. While focused on the Canadian context, it is expected that these papers will be internationally relevant.
Consultations on these issue papers will take place in Spring 2014. The aim is to finalize these papers in time for the fifth meeting of the Taskforce, in June 2014.
Questions or comments?
If you have any questions or comments, please contact:
Sarah Doyle, Senior Policy Advisor, MaRS Centre for Impact Investing, email@example.com