Prepared by: Jo Reynolds, SI Canada and Canadian Impact Investment Specialist, Technical Assistance Program, Global Affairs Canada.
Collaboration and hard work built a strong foundation for success in Peru. Over the past 18 months, a dedicated group of change-makers in Peru have tirelessly worked to set the ground for an impact economy to flourish and create measurable positive social and economic outcomes for lasting systemic change.
The good news is that Aliados de Impacto, Peru’s National Advisory Board on Impact Investing, was developed and approved by the Global Steering Group. Task Force member and Chair of Alidaos de Impacto’s Executive Board, and Investment Director with Alive Ventures, Maria Pia Morante traveled to Turkey to be part of the official GSG launch. The newly formed NAB is pleased to welcome Pedro Grados Smith, Director de la Carrera de Economía de la Universidad de Lima, as Chair Person. The NAB came together with input from over 180 stakeholders from the public sector, investors, support organizations, and the corporate sector.
I had the honour of supporting the Task Force over the past 15 months as part of the Global Affairs Canada Technical Assistance Program( TAP_EDM) and working with Alinea International. This experience has brought me into a relationship with a fantastic group of talented leaders and visionaries in Peru and the knowledgeable and supporting team with the Global Steering Group on Impact Investing. The journey involved a small team that comprised the Peru Task Force on Impact Investing, including COFIDE as the organizational lead. Peru’s Mosaico Lab worked closely to support the final submission to the GSG. The Canadian Embassy Field Support Service Program continues to provide significant support. Additional resources were provided by corporate foundations, SECO and Anglo American American, and from COFIDE. Collaborators in Canada included the SVX team, who have provided excellent contributions to impact investing in Peru, Colombia, and Mexico. We are also grateful to CAFID, the Canadian Forum for Impact Investment and Development, who supported us in providing a Canadian webinar and opportunities to share the journey at Canada’s Social Finance Forum this past spring.
It has been a very full year that established the business strategic plan and governance model with input from over 150 stakeholders from across the ecosystem, a new corporate entity called Aliados de Impacto, building relationships with funders and supporters to have the NAB resourced, aligning the NAB Members, Board Chair, Executive, and Executive Director; and of course creating educational materials, profiles, and the website. I had the incredible opportunity of traveling to Peru twice over this period for stakeholder engagement sessions, and this allowed me to be genuinely connected with the project and to enjoy some of the best food in the world in Lima!
With an NAB and Executive Board in place, the formation of Aliados de Impacto is now beginning the journey to align the ecosystem to effectively create the infrastructure for an impact economy to flourish. This will look like alignment on impact measurement, addressing barriers to the flow of capital, bringing research to the field that can support decision-making, and convening the disparate parts of the ecosystem to build connectivity and capacity for change.
Currently, 34 NABs across 28 countries are aligned for action with a global secretariat known as the Global Steering Group (GSG) for Impact Investment located in London, UK. The NAB seeks to catalyze the scaling of impact investing in Peru to facilitate access to capital, knowledge, and networks for high-impact ventures and projects while making the impact investment sector visible and promoting its growth nationally.
The National Advisory Board works to:
- Raise the profile and awareness of impact investing among leaders in business, government, finance, and the general public.
- Provide a productive platform for the industry to drive influence and action. Many ecosystems have been able to achieve public policy change or the participation of the main actors.
- Accelerate opportunities for the sector to participate in data collection, knowledge sharing, and collaborative efforts that can improve the industry’s understanding, capacity, and effectiveness.
- To be a meeting and convening point for industry leaders.
I am grateful to the TAP-EDM program for the opportunity it provided for my growth. The TAP project offers an opportunity for learning, partnership, and discovery for Canadians and partners alike. The project executes expert deployments in countries around the world based on the needs identified by National Government Entities (NGEs) in those countries. These deployments are aligned with Canada’s Feminist International Assistance Policy. A vital part of the TAP project is cross-cutting themes that focus on gender equity, environment and climate action, governance, and human rights. Using the Gender-Based Analysis Plus tool as a guide to support reflection, noticing assumptions, and considering perspectives that can shape new directions for the better.
Most importantly, I will take forward the relationships that have been formed. I truly enjoyed working alongside and getting to know many fun, thoughtful, and hard-working people making a difference for their country, communities, and the environment towards positive impact economies.