Today the Australian Government launched an innovative pilot program to improve economic development in the Pacific region as part of the Australian Government’s new development paradigm. Pacific Readiness for Investment in Social Enterprise, known as Pacific RISE, is an Australian initiative pioneering and facilitating a social impact investment market across the Pacific and ABV is proud to be partnering with Coffey to deliver this initiative.
In many Pacific countries, economic growth isn’t keeping up with population growth. To support Australia’s neighbours’ progress, new and innovative solutions leveraging more effectively the drivers of development, particularly the private sector and women need to be considered. Impact investing is one such innovation.
Globally, impact investment has grown rapidly in recent years and Australia is supporting the impact investment market in the Pacific. Impact investments are those that look beyond the financial return – they aim to deliver measurable social and environmental impacts. In creating an impact investment market Pacific RISE will establish private sector partnerships made up of investors, intermediaries and Pacific based businesses. These partnerships will link finance and ideas to achieve social and economic development outcomes, particularly for women and girls. Pacific RISE will introduce $5 million of new private investment capital into the Pacific over the next three years.
Impact investing products and services often target women and girls but rarely do investors use a gender analysis throughout the investment process which often leads to missed financial and social returns. This use of applying a ‘gender lens’ to investments, known as gender lens investing, is widespread in Asia, the Americas and other regions and now, through Pacific RISE, the Pacific region will benefit. Pacific RISE will use gender lens investing to incorporate gender into financial analysis to improve investments and promote equitable social change.
For more information, visit www.pacificrise.org