Spain has joined UK's Global Steering Group for Impact Investment (GSG) thanks to the promotion of Spain's Foro Impacto (Impact Forum), an association that seeks to achieve the objectives of sustainable development of the 2030 agenda of the UN through the promotion of impact investments.
Following Spain's adherence, the GSG (the Global Working Group for Social Impact Investment) counts today with 22 members including the EU.
Founded in 2013 by the G8 and chaired by Ronald Cohen, the GSG gathers leaders from the world of finance, business and philanthropy.
Ronald Cohen, known as the father of social impact investing, is also the global president of the GSG and author of the book "On Impact: A Guide to the Impact Revolution."
Spain's adherence closes a process started in 2018, when Eurocapital EAF, Open Value Foundation, and UnLtd Spain jointly created the Impact Forum with the aim of bringing together the main actors of the Spanish impact investing's ecosystem.
CaixaBank, Santander, Mutua Madrileña, Axis Participaciones Empresariales and Robeco are some of the firms supporting Impact Forum, whose main objective for the past few months has been to get Spain to become a member of the association.
José Luis Ruíz de Munain, founder and executive director of Impact Forum, said: "The accession of Spain to the GSG assumes a breakthrough towards the impact economy, both on a national and global level, placing Spain at the forefront of impact investment.
"This move is a success in itself, but also an important milestone in our country, as for the first time, Spain sector's leaders have come together to agree a consensus impact investing. With the aid of Impact Forum we will continue to promote an impacting ecosystem, under the auspices of the GSG, working side by side with the National Advisory Council, Spain NAB, to reach through the 17 objectives of Sustainable development (ODS) of Agenda 2030 of the United Nations of investment impact."