GALILEO INTERNATIONAL IMPACT INVESTING ASSOCIATION

WHY Galileo IIIC

TRANSFORM FINANCIAL SYSTEM TO THE FORCE FOR GOOD  & ACHIEVE 17 SDGs
1.7 billion adults do not have access to basic financial services. Billions of others want to use their savings to create a better future and achieve 17 Sustainable Development Goals (SDGs), but don’t know how to contribute. There is a will and a way to change that. That’s why we have established Galileo International Impact Investing Association (Galileo IIIC).

THE NEW NORMAL IS NEEDED
The 2030 Agenda for Sustainable Development has triggered a significant amount of energy among individual players, cross-sectoral collaboration as well as a proliferation of online platforms, data engines, and coalitions aspiring to contribute to SDGs. Increasing consensus exists that “The New Normal” is needed.

SEVERAL SERIOUS CHALLENGES DESPITE POSITIVE MOMENTUM 
     1. Lack of Collaboration
The 2030 Agenda requires greater collaboration between impact actors, however highly fragmented impact investing ecosystem impedes our collective ability to act.

     2. Lack of awareness and education: RISK, RETURN, IMPACT
Most of the universities, business schools etc. are teaching old paradigm, that the mission of a business is to create return, adjusted by risk. The most of financial institutions, international consulting groups do not have internal impact investing experts and their employees are not aware of impact investing. We must introduce 3-dimensional education not only for students but also to finance professionals and consultants.

     3. “New Rules” for pension funds and small investors
We need "New Rules" to overcome ecological and social issues which old rules have created. Governments and financial regulator must create enabling policies to increase and ease the capital flow into impact investing including pension funds and small investors.

     4. No Impact Measurement Standards

sustainability and impact leaders often lack resources and knowledge to manage and measure impact. The most of business leaders do not measure impact they are creating. Impact measurement standards and free access to impact measurement tools would help to overcome these issues.

UNITING THE ECOSYSTEM FOR AN URGENT ACTION 

Consumers, pension savers, philanthropists, investors, entrepreneurs, social sector organizations, governments and big company leaders—all of us play a critical role in in achieving the ambitious 2030 sustainability agenda and transforming impact investing to the new normal in our society. And each of us can act to speed its process.
To activate $5-7 trillion which are needed to solve SDGs, stakeholders must demand more sustainable practices from the financial and corporate sectors. Big companies, official development aid agencies, governments the World Bank Group and other development banks, philanthropies could unite and create enabling policies for making impact investing accessible for all.

IT IS TIME FOR "SYSTEMIC CHANGE"
Impact Investing Practitioners unanimously agree that today’s systems need to encourage and support "business with purpose" at a greater extent. Impact entrepreneurs need mentors support, systems to fundraise more efficiently, and human resources to create “deep” impact or systemic change on the planet.