Guernsey expert joining impact investment panel in New York
13 June 2017
Guernsey is demonstrating its position at the forefront of the development of impact investment with a local expert speaking on a panel at a global forum in New York this week.
Justin Sykes, who runs his own consultancy firm Innovest Advisory and is also Chairman of Impact Guernsey, is attending the Global Forum on Remittances, Investment and Development (GFRID) at the United Nations headquarters in New York. He is a member of a panel entitled ‘Expanding opportunities and instruments for diaspora investment’, which is part of a session focused on enabling innovation, specifically business models for remittances and migrant investment.
The panel will explore challenges and opportunities in promoting and supporting diaspora investment mechanisms. It will bring perspective from financiers and civil society stakeholders on ways and roles towards nurturing, enhancing and mainstreaming this growing market.
Mr Sykes will be presenting and discussing the Horn of Africa Diaspora Investment Fund, which seeks to use remittances to leverage increased investment in the region’s economies and to encourage market-based lending to countries in the region.
“It is important to showcase Guernsey’s expertise, and having representation at such forums can help the island become part of the structures in this sector as they develop,” Mr Sykes said.
The impact investment sector, which refers to investing into companies, organisations and investment funds with the intention of generating a measurable, beneficial social or environmental impact alongside a financial return, has more than $75 billion of assets under management globally. Estimates suggest this could grow exponentially to $2 trillion, or 1% of global invested assets, by 2025.
“It is important to showcase Guernsey’s expertise, and having representation at such forums can help the island become part of the structures in this sector as they develop.”
Impact Guernsey Chairman and Innovest Advisory Managing Director Justin Sykes
Guernsey Finance Chief Executive Dominic Wheatley said: “Impact Investment is a growing area of interest for the Guernsey finance industry. It is a growing initiative across the world and Guernsey has the infrastructure to support it. It is therefore pleasing that Guernsey has a representative sharing the island’s offering at such a high-profile event.”Back to News
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