An Interview with GSGII's CEO, Cliff Prior
As we count down the days until Innovation Zero, we chatted with Cliff Prior, CEO of the Global Steering Group for Impact Investment, who gave his thoughts on the state of the net zero transition today.
What is the central challenge, that you see in your work, to a rapid acceleration of the net zero transition?
"We need systemic solutions. Global agencies from COP to G20 are making good promises, but delivery is painfully slow. JET projects are heralded but the money is not flowing. New regulatory systems in EU, UK, US and Japan are coming forward, but we do not yet know whether this will actually lead to more positive impact. Most regulatory projects are focused on climate, but we know from experience that climate measures will only be supported with the will of the people. So we need solutions which make it easier - rather than harder - for people, for companies, for investors, to contribute to the SDGs and Net Zero."
How are you working to tackle the above?
"Impact valuation, and technology. Tech for good is developing rapidly - look at agritech as an example, from zero to $20bn and still rising. Yet less than 5% is reaching the global south. Impact valuation will allow us to put the positives and negatives of each companies, each investment, into monetary value - as per developments in IWAI, IFVI, the VBA and Capitals Coalition. It will be a game changer. The Global Steering Group for Impact Investment works with 60+ countries. The GSG connects countries from both emerging and developed markets, and supports the systemic changes with impact standards and valuation. Most of all, we connect the two - ensuring that countries from all situations can have a voice and see the future of the new financial system of standards and valuation."
"Most regulatory projects are focused on climate, but we know from experience that climate measures will only be supported with the will of the people."
With whom do you want to connect to help enable the above?
"Funders - government, foundations, philanthropists - to support the systemic changes which can make the hard work easier. Companies and investors to join in to help develop the standards and valuation, to ensure that more capital and more opportunities get engaged and reach the places that need it most."