Over 3,000 people gathered in San Francisco, California from October 10-13, 2017, to attend Social Capital Markets (SOCAP), an annual conference on impact investment and social enterprise. A number of sessions were organized ranging from topics from education to climate change, and from inclusive fintech to sustainable livelihoods. It was great to see the number of sessions relating to the SDGs and how cross-sectoral collaboration is needed to achieve the SDGs.
In today’s numbers, after governments and philanthropists pool their funds together, there is still a gap of $2.5 trillion to reach the targets and indicators for the SDGs. Attracting impact investors through blended finance can help fill this gap. The reoccurring themes discussed at SOCAP also align with the implementation of the SDGs and the efforts of the SDG Philanthropy Platform:
Build the evidence
Investors spoke of the importance of a potential investee having a strong track record and having a clear impact narrative in order to create a track records and prove impact, there is a great opportunity to leverage philanthropic dollars to impact investing. Philanthropic money can be a resource to fund research and build the evidence to then attract commercial money once a track record has been established. Using this type of blended finance model for deploying catalytic capital incentivizes others to invest.
In today’s numbers, after governments and philanthropists pool their funds together, there is still a gap of $2.5 trillion to reach the targets and indicators for the SDGs. Attracting impact investors through blended finance can help fill this gap.
Share the practice
In order to achieve the SDGs, it is critical that stakeholders share best practices and lessons learned. Such collaboration fosters innovative ideas and solutions to help deepen impact and implementation. Simply doing more does not necessarily equate to making more impact. Instead, analyzing how much more and how much better through collaboration and assessment, we can work together to achieve the SDGs.
Advocate on behalf of partners and sector
The power of investment is that it is a form of advocacy because it demonstrates a championing of a particular cause. By building up one another, we build up the sector. Together we can all amplify our voices to advocate for the SDGs. Leveraging and plugging into existing networks will help improve the sector and keep each other informed.
As author James Baldwin said, “Not everything that is faced can be changed, but nothing can be changed until it is faced.”
Through the SDG Philanthropy Platform, we are facing the SDGs and catalyzing ideas to deepen collaboration, leverage resources, and sustain impact. The cost of doing nothing is great for our Earth and global community. There is a need, necessity, and opportunity to get involved in the 2030 agenda through collaboration among stakeholders, sectors, and finance.
Author Kelly Diggins is part of Rockefeller Philanthropy Advisors Global Philanthropy Team.