ONE of the world’s leading figures in impact investing has encouraged Guernsey’s finance industry to develop a niche in the sector.
American entrepreneur Jacqueline Novogratz founded Acumen, a non-profit global venture capital fund which uses entrepreneurial approaches to address global poverty.
The fund has invested more than $100m. in businesses to help the poor in their own community, including clean water and power projects, which has impacted nearly 200m. lives.
Profits are reinvested in other projects.
‘We work with some of the richest and some of the poorest people on the planet,’ she said at an event in Guernsey organised by accountants PwC.
‘We are about standing with the poor and recognising potential where others see despair.’
The event raised the prospect of Guernsey enhancing its involvement in impact investing as a sector in its own right, which is a project being pursued by a working group led by the Chamber of Commerce.
‘Guernsey has an incredible opportunity right now because of generational shift, and all the different economic, political, social and environmental factors that we are seeing, and the quality of people here,’ she said.