Impact Investing in Peru: A Story of Collaboration and Change
The Technical Assistance Partnership (TAP) initiative implemented by Alinea International and funded by Global Affairs Canada with one of Canada’s premier experts in social innovation, Jo Reynolds, is working collaboratively with the Government of Peru to support the National Advisory Boards for Impact Investing. The work focuses on establishing the organizational structure and governance to allow access to new and diverse forms of capital to finance Peru’s sustainable growth and development.
In this blog, Jo, a Canadian Impact Investment Specialist working with SI Canada, shares their insights and experiences from a project that involved collaborating with diverse partners and stakeholders to support the National Advisory Board.
By Jo Reynolds
Collaboration and hard work built a strong foundation for success in Peru. Over the past 18 months, a dedicated group of change-makers in Peru have tirelessly worked to pave the way for the growth of an impact economy. They aim to foster tangible, measurable, positive social and economic outcomes for lasting systemic change.
Maria Pia Morante, a Task Force member, Chair of Aliados de Impacto’s Executive Board, and Investment Director at Alive Ventures, traveled to Turkey to participate in the official GSG launch. The newly formed National Advisory Board (NAB) is pleased to welcome Pedro Grados Smith, Director de la Carrera de Economía de la Universidad de Lima, as Chair. This achievement was made possible through collaboration with over 180 stakeholders from various sectors, including the public sector, investors, support organizations, and the corporate sector.
Building the Foundation for an Impact Economy in Peru
I had the honour of supporting the Task Force over the past 15 months as part of the Global Affairs Canada Technical Assistance Program (TAP_EDM) and working closely with Alinea International. This experience not only connected me with a fantastic group of talented leaders and visionaries in Peru but also introduced me to the knowledgeable and supportive team at the Global Steering Group on Impact Investing.
The journey involved a small, dedicated team that comprised the Peru Task Force on Impact Investing, with COFIDE taking the organizational lead. Collaboratively, we worked closely with Peru’s Mosaico Lab worked closely to support the final submission to the GSG. Additionally, we received support from the Canadian Embassy Field Support Service Program, which continues to provide significant support. We also secured valuable resources from corporate foundations, including SECO, Anglo-American, and COFIDE (in Peru). In Canada, our collaborations included the SVX team, whose contributions have significantly impacted the world of impact investing in Peru, Colombia, and Mexico. We sincerely thank CAFIID for the opportunities to share the journey at Canada’s Social Finance Forum this past spring.
Supporting the Task Force
It has been a really busy year! I helped establish the business strategic plan and governance model with input from over 150 stakeholders from across the ecosystem, Aliados de Impacto, building relationships with funders and supporters to have the NAB resourced, aligning the NAB Members, Board Chair, Executive, and Executive Director; and of course, creating educational materials, profiles, and the website. I had the incredible opportunity of traveling to Peru twice over this period for stakeholder engagement sessions, and this allowed me to be genuinely connected with the project and the people while enjoying some of the best food in the world in Lima!
Strategic planning, Governance, and Stakeholder Engagement
With a NAB and Executive Board in place, the formation of Aliados de Impacto is now beginning the journey to align the ecosystem to create the infrastructure for an impact economy to flourish effectively. This will look like alignment on impact measurement, addressing barriers to the flow of capital, bringing research to the field that can support decision-making, and convening the disparate parts of the ecosystem to build connectivity and capacity for change.
The National Advisory Board’s objectives encompass elevating impact investing’s profile, fostering a platform for industry influence, accelerating participation in data collection and knowledge sharing, and serving as a pivotal meeting point for industry leaders.
Gratitude and Reflection
I am grateful to the TAP-EDM program for the opportunity it provided for my growth. Most importantly, I will take forward the relationships that have been formed. I truly enjoyed working alongside and getting to know many fun, thoughtful, and hard-working people making a difference for their country, communities, and the environment towards positive impact economies.