Place-Based Impact Investing Project
Scaling up institutional investment to build local economic resilience.
The Place-Based Impact Investing (PBII) Project was founded by The Good Economy, the Impact Investing Institute and Pensions for Purpose to explore how to scale-up institutional investment into opportunities that enhance local economic resilience, sustainable development and the Levelling Up agenda.
Place-Based Impact Investing Project
The Good Economy launched the PBII Project with the Impact Investing Institute and Pensions for Purpose to explore how to scale up institutional investment focused on the opportunities of place. A six-month research programme (led by TGE and with financial support of the Department for Digital, Culture, Media and Sport (DCMS), the City of London Corporation and Big Society Capital) culminated in the publication of a white paper on 26 May 2021 – Scaling Up Institutional Investment for Place-Based Impact.
While the white paper focused primarily on the role of the £326 billion Local Government Pension Scheme, it built a powerful case to suggest PBII has the potential to become a new paradigm or lens for all kinds of investors.
The paper generated widespread interest amongst local government pension schemes, local authorities, fund managers, asset owners, consultants and other place-based stakeholders including the UK government who referenced the paper in their Levelling Up Strategy.
“The white paper is timely and relevant to anyone with an interest in scaling-up institutional investment into opportunities that connect capital to place.”
Jamie Broderick, Deputy Chair, Impact Investing Institute
The 3E Model
TGE has further refined this work into its 3E Goal Framework that can be used to map players, places and projects by the three great, long-term societal challenges, namely:
- Ecological Sustainability, The Net Zero Transition: governance and political support; just transition to climate neutrality, lifestyle changes, enabling technologies, net zero transition finance
- Essentials of Everyday Living, Resilient and Excellent Foundational Economy: housing, town centres, education, health and care, utilities and food supply
- Economic Dynamism, ‘Long-Wave’ Innovative Growth Sectors (entrepreneurship and skills pathways): holistic health care and biotechnology, green technologies, nano technology, AI and the Internet of Things, space and materials technology
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