October 21st, 2015
Philanthropy Australia CEO, Sarah Davies, said impact investing was a powerful giving tool.
“The Government’s focus on growing and developing the impact investing market in Australia is absolutely the right decision, and we applaud them for it,” Davies said.
“It’s terrific that the government has recognised that we need legislative changes to affect positive growth in the impact investing market. For Australians who have Private Ancillary Funds, legislative changes will allow them to more easily invest in social impact bonds.
“Philanthropy Australia has been lobbying for this change, so it's welcome news.
“We’ve been pleased to have been able to contribute our thoughts on growing impact investing in Australia to the Prime Minister’s Community Business Partnership, which is already examining how the broad range of policy levers can help grow impact investing. The government’s proposed discussion paper should result in a positive jump forward in the facilitation of impact investing in Australia.”
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The Australian Government has announced a review of the Australian Charities and Not-for-profits Commission (ACNC) legislation.
Advocacy & Insight Manager, Krystian Seibert, outlines Philanthropy Australia's engagement with the review.