Yesterday, I posted Part II of my interview (read Part I) of Antony Bugg-Levine, Managing Director of the Rockefeller Foundation, Board member of the Global Impact Investing Network and one of the thought leaders and influencers in impact investing. Here's Part III, wrapping up the interview with some reflections on the state of impact investing and the process of writing his new book on impact investing (see below for details).

3) What do you think this field is picking up momentum only now, given that it has been around for years? Why do you think people are realizing the importance of this space so late?

Impact investing has been going on for decades — but the coining of the phrase “impact investing” around four years ago has allowed different communities to share their aspirations under a common language and to come together more visibly.

In the book, we talk about this phenomenon. Many people are increasingly frustrated with business-as-usual approaches. There is a growing number who do not think that the model of philanthropy their parents adopted is enough.  At the same time, we talk about a new generation of people who have been raised within the social enterprise movement and seek to integrate business and social purpose throughout their career, not in sequence.

In addition, the recent financial crisis has shaken people’s confidence in old approaches. Governments, also, are increasingly intent on figuring out how to do more with less, and are mobilizing impact investing capital to complement government spending.

4) If you had one message for this community, what would it be?

Let us all go from rhetoric to action. We need to see real deals proliferate that generate social impact and financial return. We also need to recognize that we are part of a longer-term movement to change the fundamental systems and mindsets that currently limit us.

5) What was your favorite aspect in working on this book?

It has been a great honor and intellectual privilege to work with my co-author, Jed. He’s a real visionary. By its nature, impact investing will be best when it brings together people from different perspectives, even if that is not always the easiest and most comfortable way to work. For me, working with Jed was a real-world manifestation of this idea—we brought different perspectives and experiences to the process and challenged each other to both broaden and sharpen our ideas. I hope the result is more interesting and insightful for our readers.

Antony Bugg-Levine is the co-author, with Jed Emerson, of Impact Investing: Transforming How We Make Money While Making a Difference (Wiley, 2011) which will be released in early September and is available now for download as an e-book. The opinions expressed in this article do not represent the official views of any institution with which he is affiliated.

Photo credit: Jai Catalano

Share:  

• 
• 
• 
• 
• 
• 
•