The minister for civil society has announced the creation of an advisory group that will into how to increase individual participation in socially themed investment by the summer of 2017.
Rob Wilson, minister for civil society, said the group has been created to “look at how individuals can be offered savings and investment choices which target positive social outcomes as well as financial returns”.
The group will “provide initial findings on how to increase individual participation in socially themed investments and how to mobilise the industry to achieve these aims by summer 2017”.
The group has been asked to consider how the “savings, pensions and investment industries, with the support of government, can engage with individual investors to enable to support more easily the things they care about through their savings and investment choices?”
The government said that, as part of this, the group will consider the current barriers to development of products with social impact components and “the demand for and distribution of such products”.
The advisory group will be chaired by Elizabeth Corley, vice chair of Allianz Global Investors, and will be made up of other “senior industry representatives from across the investment industry”. It will report back to the government with recommendations on what it should be doing to “raise the level of social impact intentionally delivered through the investment chain”.
Wilson said: “I’m convinced that people want their investments to do good as well as making a financial return. I don’t believe they currently have enough options to make that happen. I hope the advisory group will be able to chart a course to fix that.”