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Impact investing over 20 years: A timeline

2 July 2020 at 6:00 am
Wendy Williams

Over the past two decades Australia’s impact investing sector has gone from a state of uncoordinated innovation to one of marketplace building. We revisit the Pro Bono News archives to reflect on some of the key moments that have got us here.

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Wendy Williams | 2 July 2020 at 6:00 am

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“Venture philanthropy” is the new buzz-word in the world of giving.

Jun,2000

It is regarded as a controversial movement far removed from the traditional relationship between foundations and grantees, attracting the big time hi-tech corporations.

The latest Socially Responsible Investing Benchmark report shows that SRI has grown dramatically over the past 12 months – rising to at least $13.9 billion from $10.5 billion only a year ago.

Oct,2002

Most investment managers worldwide see socially responsible investing practices becoming mainstream.

May,2005

But there is some disagreement on precisely how this will work.

A consortium of four major charities purchases ABC Learning childcare centres.

Dec,2009

The venture – Goodstart – is backed by the National Australia Bank and the Australian government.

Social business operators and investors meet in Melbourne for the inaugural CSI Investing for Impact Conference.

Apr,2010

This invitation-only event is said to be the first of its kind in Australia, with the aim of exploring and developing new ways of mobilising capital to drive positive social, environmental and economic change.

The Gillard government announces two new initiatives to provide support for social enterprise.

Jul,2010

The Social Enterprise Development and Investment Fund (SEDIF) will provide funding assistance for the start up and expansion of social enterprises, while the Professional Partnership Project will connect social enterprises that enable disadvantaged people find jobs and training with advice and expertise from key professional service firms.

The federal government announces Foresters Community and Social Enterprise Finance Australia (SEFA) will establish new banking and financial services for social enterprises in Australia.

Aug,2011

The NSW government announces a trial of two “social benefit bonds” (SBBs) to focus on improved social outcomes and reduced demand for future government services.

Sep,2011

It is announced Social Ventures Australia (SVA) will manage a new $8.6 million Social Impact Fund making it the third organisation in the SEDIF Scheme.

Jun,2012

SVA says its first loan will go to North Yarra Community Health to help them establish a new health practice.

A federal government report suggests that the impact investment market in Australia is still in its early stages but shows great potential for growth.

Apr,2013

SVA raises $7 million for Australia’s first social benefit bond – well ahead of schedule.

Jun,2013

Sir Ronald Cohen visits Australia to promote the work of the international Social Impact Investment Taskforce established by the G8.

May,2014

Australia is the only country outside of the G8 invited to become a member of the taskforce.

The Social Impact Investment Taskforce report launches.

Sep,2014

It says Australia has the foundations for a thriving, world-leading impact investment sector.

Daniel Madhavan is appointed as the inaugural CEO of Impact Investing Australia – a newly established not for profit set up to develop the market for impact investing.

Oct,2014

GoodStart is recognised as one of 10 top innovations, in a new report on global philanthropy.

Oct,2014

The NSW government becomes the first in Australia to launch a Social Impact Investment Policy and establish an Office of Social Impact Investment.

Feb,2015

Impact investing grows to record levels in Australia.

Aug,2015

There is more than $629 billion in assets being managed under responsible investment strategies.

Superannuation fund HESTA commits $30 million to create an impact investment fund managed by SVA.

Sep,2015

The first data set of Australian impact investments reveals positive financial returns, and strong social and environmental outcomes.

Oct,2015

The Turnbull government voices its support for impact investment, as part of its far reaching response to the Financial System Inquiry.

Oct,2015

Leaders spanning Australia’s finance, not-for-profit, business and public sectors launch a Blueprint for Impact Capital Australia (ICA).

Nov,2015

The Impact Investing Australia 2016 Investor Report reveals investor demand for impact investment is expected to reach $18 billion over the next five years.

Mar,2016

The Turnbull government explores ways it can develop the impact investing market in Australia, with a focus on affordable housing supply.

Jan,2017

South Australia launches the country’s first homelessness social impact bond, which will support 600 people through a program focused on life skills and employment pathways.

Feb,2017

The Responsible Investment Association Australasia launches the Impact Investment Forum.

May,2017

It aims to provide a dedicated hub to connect and deepen the participation of organisations and individuals in what is a growing field.

SVA’s Diversified Impact Fund raises more than $10 million and reaches its first close sooner than expected.

Dec,2017

Michael Lynch, executive director of SVA Impact Investing, says: “Impact investing is now being taken seriously as a way to generate social outcomes without taking a haircut on financial returns”.

The Australian Advisory Board on Impact Investing’s field scan reveals the ecosystem is moving from early stage exploration into the early stages of market building.

Feb,2018

The government announces in the federal budget that it will work with Impact Investing Australia to look at ways to build the market to scale.

May,2018

The Benevolent Society Social Benefit Bond becomes the first SBB to reach maturity in Australia.

Oct,2018

Rosemary Addis hands over the chair of Australian Advisory Board on Impact Investing.

Jul,2019

She reflects on what’s happened in the sector since she first founded the organisation in 2013.

Michael Traill AM is appointed to lead the expert panel behind the government’s Social Impact Investing Taskforce.

Oct,2019

He says the panel is approaching the role with a strong practical lens, to create actionable recommendations that the government could put into practice.

The Social Impact Investing Taskforce releases its interim report.

Feb,2020

It says the federal government has a clear role to play in driving the nation’s impact investing market to benefit Australian communities.

A new study from RIAA finds the Australian impact investing market has more than tripled over the past two years.

Jun,2020

Advocates believe strong investor confidence will endure despite the ongoing COVID-19 crisis.

Research shows the global impact investing market is continuing to mature despite the COVID-19 crisis and is now worth more than $1 trillion.

Jun,2020

For a deeper look at these key changes, check out our article examining how far the impact investing sector has come since 2000.

Wendy Williams | Editor | @WendyAnWilliams

Wendy Williams is a journalist specialising in the not-for-profit sector and broader social economy. She has been the editor of Pro Bono News since 2018.

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