Social Finance CEO Tracy Palandjian Rings NYSE Closing Bell with Members of U.S. National Advisory Board to the Global Task Force on Social Impact Investing

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On April 21st, Social Finance CEO Tracy Palandjian and other members from the 27-person U.S. National Advisory Board (NAB) rang the closing bell at the New York Stock Exchange (please find the video here). The NAB is tasked with recommending policy changes to the Global Task Force on Social Impact Investment, which grew out of the June 2013 G8 gathering of world leaders.

Launched by UK Prime Minister David Cameron, the Social Impact Investment Task Force—chaired by Sir Ronald Cohen, co-founder of Social Finance UK, US, and Israel—was formed to create a policy framework to accelerate impact investing and raise awareness about the role of innovation and public/private collaboration in solving some of the most vexing challenges, both social and environmental, of our time.

Palandjian, who co-chairs the U.S. NAB with Omidyar Network’s Matt Bannick, noted that “Our society faces challenges that cannot be solved by government and philanthropy alone, spurring innovative approaches that harness the efficiency and discipline of markets. Impact investments deploy private capital for public good and are intentionally designed to deliver social or environmental benefits as well as financial return.” Social Finance has driven impact investing through the use of a particular financing mechanism, Pay-for-Success, also known as the Social Impact Bond.

The U.S. cannot afford to leave both capital and talent underutilized during a time of economic distress. Consequently, the NAB will issue a report this summer to offer policy recommendations aimed at advancing impact investing in the U.S.

Entry by Daniel Rubin, Associate