Rt. Hon Nick Hurd and Philip Bateman | This isn't about numbers or ideology, it's about people who are suffering

38m · Smarter Impact · 06 Feb 23:00

Join the Chair of the Global Steering Group for Impact Investment and I for this deep discussion on our changing world;

".. There are a lot of areas in public policy where government really struggles; keeping people out of prison, keeping children out of care, homelessness.

My view is 'Come on we're failing, let's open the door and try to find new, better solutions'

It's not easy, but it's really worth it, if you push through the difficulty and strike that partnership between the elements in society where everyone brings what they're good at."

In the first part 1 of this conversation we look at;

- Moving beyond simply asking "What's Government doing about it?" or "What's the role of business" ?
- Admitting when you don't have all the answers
- Whole of Society approaches to a collaborative future
- Achieving cross-sector Impact Partnerships
- The challenges of accountability and trust

Doing less harm is not good enough

What would it take to have a mindset that got up every morning, asking 'how can I combine sensible, adequate financial return, with measurable, positive, intentional impact?'

In this section, we discuss:

- The spectrum of ambition in the $40BN ESG movement
- The rise and necessity of regulatory taxonomies
- Social and environmental impacts of externalising cost
- Integrating a third lens into investment decision making
- Inertia, human impulses and leadership
- Setting frameworks, culture and expectation
- Establishing spaces for others to thrive and fullfill their potential in
- Creating signals of approval and encouragement that people leap at

The plan to break through systemic inertia

".. We need the money the flow; if we're serious about the SDGs and climate, if we accept that there are big, important emerging economies that have to transition to clean energy, if we accept our responsbility in that, and we are alive to the huge economic opportunity attached to investing in support of these transitions, then why wouldn't we try to put all our brainpower and energy behind thinking 'okay, how do we make this easier? How do we make this flow?' - because it's urgent, right? .." - The Rt. Hon Nick Hurd

In this section we discuss

- Globalisation and Geopolitics
- The rise of the Global South
- The African Union and the BRIC networks
- Trillion dollar annual gaps and the challenges of humanity
- Complexities, barriers, problems and risks
- Transforming the landscape of investible supply
- The distortion and magnification of risk
- Demonstrable investment success
- Mindset and system inertia
- Dismantling barriers
- Reducing the cost of capital
- Accelerating copycat culture

It's hard to argue against impact transparency

With over 40 countries having setup their own National Advisory Boards, and a dozen or more countries wanting to join, how does the GSG build ecosystems that enable impact transparency and the flow of investment?

In the final part of our discussion;

- Questions the GSG poses to catalyse change
- Transparency as the great disinfectant
- How Board behaviour is changing
- Methodologies to put monetary values on impact
- Changing the standards used to assess company performance
- The popularity of French Solidarity pensions invested for social benefit
- This is real. It's inevitable and it'

For the latest insights on leadership, impact investing, global challenges, business strategy and storytelling, make sure to join me on LinkedIn, and get the newsletter, Smarter Impact - Every Thursday!

The episode Rt. Hon Nick Hurd and Philip Bateman | This isn't about numbers or ideology, it's about people who are suffering from the podcast Smarter Impact has a duration of 38:43. It was first published 06 Feb 23:00. The cover art and the content belong to their respective owners.