Advent of SSE puts UK "at heart of social investment"
Britain’s Prime Minister David Cameron has officially launched the Social Stock Exchange (SSE), a new initiative designed to connect the public financial markets with social impact investment. The SSE gives investors access to information on publicly listed businesses with strong social and environmental purpose, and guarantees full and transparent disclosure on the impact of those businesses.
Cameron said in a speech that the SSE demonstrates that the UK is at the heart of financial innovation and social investment. The global market for social impact investment is estimated to be worth $9bn and expected to grow to between $200 and $650 billion in the next decade.
The first member companies to be admitted to the SSE are high growth businesses in markets such as social and affordable housing, clean-tech, waste, water, recycling, renewable energy, sustainable transport, health, education and culture. They include Ashley House plc, V22 plc, Straight plc, Scope, Places for People, ITM Power plc, ValiRx plc, Good Energy Group plc, Primary Health Properties plc, Halosource plc and Accsys Technologies plc.
A further 12 companies are currently pending admission, following the SSE’s three stage admissions process, which includes the requirement to be admitted to a regulated Stock Exchange (hence the role of London Stock Exchange Group in supporting the initiative), the production of an Impact Report and assessment by the SSE’s Admissions Panel, formed of leading social impact investment experts.
The SSE is supported by a number of high profile organisations including London Stock Exchange Group, City of London Corporation, Big Society Capital and the Rockefeller Foundation.