Update on Place-Based Impact Investing Innovation Labs
The Good Economy (TGE) has now held three highly successful investor roundtables with the fourth and final one of the current series of Place-Based Impact Investing (PBII) Innovation Labs scheduled for mid-July. These Labs provide opportunities for local authorities to come together with private investors to discuss how to develop financing solutions for local projects with clear social benefits for local people and communities. The wider aim is to develop innovative funding models with the potential for replication and aggregation into institutional fund structures, potentially combining public and private investment.
Mark Hepworth, co-founder of The Good Economy and PBII Lead, said: “There is now a golden opportunity for private capital to step in, match public investment and deliver positive environmental and social impact in places and communities across the country.”
The first Lab with the Association of South Essex Local Authority (ASELA) considered a number of finance-related net zero challenges and how multi-sectoral collaborations could support the delivery of the South Essex 2050 vision, including housing retrofit.
The second brought together the Manchester City Council, the Greater Manchester Pension Fund and a number of private capital investment managers to look at how to fund social housing re-provision within the context of wider estate regeneration.
The most recent Lab ignited an important discussion on how to provide affordable homes for local families and workers in an expensive market such as Bath.
The last event in mid-July will explore innovative funding models for a major community-led regeneration project in Dunoon, Scotland.