Multiple, diverse and innovative forms of purposeful impact finance

Whilst I share the aspiration in this story for a fairer stakeholder-driven low environmental impact B&NES economy, and recognise the need for substantial green infrastructure investment to enable it, I believe we need to be more creative in envisaging how it will be funded. Whilst there may well be a significant role in this for a ‘BathNES Green Digital Municipal Bond’, we need to be smarter in diversely structuring infrastructure investments around a specific purpose so to attract the type as well as quantum of public, private, philanthropic and/or community investors best able to deliver the particular mix of desired economic, social and environmental outcomes.  

Why the contribution is important

There is no one-size-fits-all approach to financing B&NES’ diverse infrastructure needs. Nor is social justice the only reason why we need to attract such investment. The appetite for purposeful impact investment is growing as more and more organisations are focussing on addressing social and ecological crises, and there is growing interest amongst governmental as well as business and philanthropic investors in collaborative investment around a shared purpose. 

by NicoletteBoater on January 08, 2021 at 01:23PM

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Comments

  • Posted by SuePoole January 08, 2021 at 18:56

    There is also a move to regional banks being developed including Avon Mutual I think - I attended an excellent event in 2019 which included a talk by Julian Peck about this and there was also a speaker from the US talking about the need for local democratic economies to get investment into local jobs to meet local needs ... this is vital !
  • Posted by Louise January 08, 2021 at 20:16

    There is an opportunity to raise capital and revenue from new developments. The Housing and Economic Land Availability Assessment has identified a significant acreage that is current greenfield. If residential or commercial development is given permission on these areas the rise in land value will be significant on that part of land to be developed. Community gain and entitlement should be sought from the development through Section 106 and Section 38 and other planning policy sections to ensure there are lands made available for public open space, tree lined cycle/walkways and green transport routes along with adequately sized areas for formal and informal play and home zones. The list could go on. Although the capital or revenue gain sought from new developments must be seen as reasonable in scale and kind, the areas to be developed should allow adequate social and community space within the development boundaries.
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