Ibukun Awosika, Arunma Oteh appointed into UK’s G7 impact taskforce

Three Nigerians have been appointed as members of the global Independent Impact Taskforce (ITF) by the United Kingdom’s 2021 presidency of the G7.

They are Ibukun Awosika, founder of The Chair Centre Group, Uche Orji, managing director of Nigeria Sovereign Investment Authority (NSIA), and Arunma Oteh, former director-general of the Securities and Exchange Commission and an academic scholar at the University of Oxford.

The ITF members will proffer solutions for a sustainable and inclusive recovery from the COVID-19 crisis and promote impact-driven economies and societies in the long term.

It will also bring together relevant, diverse, and practical voices who are focused on maximising the impact of investments, drawing from the G7 countries and beyond.

According to a statement by Global Steering Group for Impact Investment (GSG), a global group catalysing impact investment and enterprise, the taskforce will be chaired by Nick Hurd, former UK member of parliament and minister, who chairs the Access Foundation for Social Investment and led the UK Government’s work to scale the development of the impact investment market between 2010-2015.

The working group dedicated to the harmonisation of impact reporting and transparency will be led by Douglas L. Peterson, president and chief executive officer, S&P Global, while the group working on the creation of impact financing vehicles will be headed by Dame Elizabeth Corley, former CEO of Allianz Global Investors and chair of the Impact Investing Institute.

Sir Ronald Cohen, who led the Social Impact Investment Taskforce established under the UK’s presidency of the G8 in 2013, joins as senior advisor and taskforce member.

In an Instagram post on Tuesday, Awosika expressed delight to be among the team of individuals to serve on the new impact taskforce.

Nick Hurd, chair of the Impact Taskforce, said, “The state of our world requires a change in mindset from governments and the market. It will not be enough for private capital to do less harm. We need to mobilise trillions of dollars into investments that combine return with positive social or environmental impact. The Impact Task Force will show how that can be done.”

Cliff Prior, chief executive of the Global Steering Group for Impact Investment (GSG), commented: “We are delighted to have been asked by the UK government to lead the secretariat of the Impact Taskforce. Robust reporting standards and innovative investment structures are absolutely central to the development of the impact Investing market that benefits people and the planet. The creation of the Taskforce will put an impact ecosystem firmly on the G7 agenda as countries around the world seek solutions for fair and just recoveries from the COVID-19 crisis.”

Sarah Gordon, CEO of the Impact Investing Institute, said, “Impact investment has the potential to contribute to solutions to some of the biggest challenges we face – whether that is a just recovery from the pandemic or addressing the climate crisis. To harness private capital at scale for the public good, we need structures that meet investors’ requirements and deploy capital where it is needed, improving access to decent jobs, education and healthcare, and investing in a just transition to a net-zero world.”