Image: Kirsty Moore, Adam Levin, Louise Giolitto, Dan Madhavan, Tim Shanahan, Treasurer Ben Wyatt, Hanna Ebeling, Lachlan Haughey, Andrea Morgan, Kurt Sibma, Helen Nys, Aaron Morey, Kylie Hansen, Fiona Roche, Oral McGuire, Brett Sabien, Justin Wolfgang, Amanda Goodman, Dan Minchin, Sven Stenvers, Minister McGurk, Paul Flatau, David Collard, Paul Malcolm, Lorna Pritchard, Julian Roche, Emma Tomkinson, Joshua Cunniffe, Ali Mollinger-Sahba

WA Treasurer Hon. Ben Wyatt MLA launched the Impact Investment WA Alliance (IIWA) in front of leaders from the State’s government, finance, philanthropic, community and business sectors on September 10 at the UWA University Club.

The Alliance is a world-first attempt at different sectors joining forces to design an effective impact investment market from the ground up.

It has clear objectives and provides a reference group for government, investors and other stakeholders as they develop new initiatives and policies.

“Impact investing is an opportunity for the Government to take a fundamentally different approach to addressing our priorities as a State, while building a new finance market in WA to positively contribute to our community,” Mr Wyatt said.

Community Services Minister Hon. Simone McGurk MLA said the services must not just be well-intended, but effective.

“We have a responsibility to deliver outcomes, so I welcome the contribution to how we measure, and of course pay, for services for WA families,” Ms McGurk said.

Impact Seed Founder and Director Sven Stenvers said that, with the right support, impact investment had the capacity to address some of WA’s most intractable social and environmental challenges through business investment.

“These could range from employment-based social enterprises which can support people suffering disadvantage, such as long-term unemployment and disability, through to regenerative agriculture projects in partnership with Aboriginal corporations” Mr Stenvers said.

“Today’s launch of the Alliance with the Treasurer and Minister McGurk sees a high leverage point for positive action towards these goals.”

The Centre for Social Impact UWA Director Paul Flatau said the Centre was very pleased to partner with Impact Seed and others in the launch of IIWA as it will “help catalyse the development of impact investment in WA”.

“Impact investing funds have the potential to significantly expand the pool of finance that can be used directly to create social impact whether that is investments in Aboriginal businesses, in housing targeted to those vulnerable in the housing market, to debt and equity finance used to scale up social enterprises supporting employment options for disadvantaged job seekers or social impact bonds that create innovative options to address homelessness,” Professor Flatau said.

WA Super Chairman Tim Shanahan said the Alliance was about people in WA getting organised around impact investment.

“This is a unique opportunity to make a positive impact in Western Australia, for Western Australians with the intention and willingness to use capital for the greater good,” Mr Shanahan said.

Noongar Chamber of Commerce and Industry Director Oral McGuire challenged the investors and policymakers in the room to look at finance as a system that works with First Nations people, rather than against people.

“It’s on this land that Noongar people upheld the principal of caring for everything,” Mr McGuire said.

IIWA is an alliance of member organisations across funding sectors.

ENDS

For media enquiries please contact info@iiwa.org.au. For more information on this media release click here to download the IIWA paper with impact investment market opportunities.

More about Impact Investment

• Impact Investment sees investors seeking out funding opportunities that are focused on generating actively measured social, cultural and environmental impacts, alongside a sustainable financial return.
• Types of impact investment include early or late stage funding for social enterprises, or equity/debt investment into investable impact projects in areas as diverse as housing, clean energy, regenerative agriculture, agroforestry.
• Impact investment can also be supported through instruments such as social procurement (mandating a target for purchasing through social enterprises) or pay-for-performance contracts such as social impact bonds.

Definitions
Impact Investment sees investors actively seek out funding opportunities that are focused on generating actively measured social, cultural and environmental impacts, alongside a sustainable financial return. The result allows investors to sustainability contribute to their communities while meeting their investment objectives.   Types of impact investment include early or late stage funding for social enterprises, or equity/debt investment into investable impact projects in areas as diverse as housing, clean energy, regenerative agriculture, agroforestry; It can also be supported through instruments such as social procurement (mandating a target for purchasing through social enterprises, or pay for performance contracts such as social impact bonds.

A Social Enterprise is an entity that is impact-driven, and uses a financially sound business model to create actively-measured social, cultural and environmental impact.  It derives most of its income from trade of goods or services (i.e. 50% or less of its income is from grants) and it reinvests a significant proportion of its profit in furthering its mission.

(for media enquiries, please contact info@iiwa.org.au)