Background: IIX (Impact Investment Exchange Asia) is home to Asia’s first private and public platforms for Social Enterprises*(SEs) to raise capital efficiently. Launched in March 2011, Impact Partners is Asia’s first private platform connecting Impact Investors to promising SEs seeking mission-aligned investment capital. Impact Exchange, launching in 2012, will be a regulated stock exchange (public trading platform) where Impact Investors can invest in and trade shares and bonds issued by SEs in a liquid and transparent environment. This platform will be launched in partnership with an existing regional stock exchange.
IIX's not–for–profit sister entity, Shujog, whose name is taken from the Bengali word for ‘opportunity’, focuses on capacity–building, research and advocacy work, in the SE and Impact Investment space. Shujog’s core service is assessing a SE’s social and environmental impact via its Social Impact Assessments work throughout Asia-Pacific.
*Social Enterprises are organizations with double or triple bottom-line returns and combine a strong social or environmental mission with financial sustainability.
What we are doing: SCCF and SSR are advising on environmental criteria within Shujog's Social Impact Assessment work. This joint work encompasses two major contributions: firstly, entry level sponsorship for Social Impact Assessment provided to Shujog; and secondly advisory services as a specialised knowledge partner to develop the environmental aspect of the Social Impact Assessment further. The pro bono contribution advisory services are provided by two SSR Singapore-based staff that focus on environmental policy and practice. SSR staff worked with Shujog in determining the environmental questions to be considered prior to Shujog's trip (in July 2011) to gather data from social enterprises in the Indian renewable energy sector to help develop environmental considerations within the Social Impact Assessment. The Shujog team is currently analysing their findings from this trip. The result of this month long analysis will be delivered to SSR who will provide input on environmental criteria to be used in the Social Impact Assessment for future use. The Foundation's role therefore is to provide the sponsorship funding requested and to co-ordinate and supervise the SSR team's work, making sure that both SSR and Shujog are happy with the process and the outcome.
The next step: We believe that the work to be done on environmental criteria and climate change adaptation within the Social Impact Assessment is a highly important part of the preparatory work that needs to be done in order for the exchange to be successful. Our aim, through this work, is to help promote good practice for SEs in the region for many years to come. We are very happy to be a supporter and sponsor of this Social Impact Assessment as a central building block to support the development of the Impact Exchange. Existing supporters of IIX and Shujog include the Rockefeller Foundation, Asian Development Bank and Economic Development Board (EDB) of Singapore.