Bono from U2 also becomes an ambassador for responsible finance
Environment — di Valentina Neri
Sustainable investments are gaining ground, racking up ever larger figures, and winning an exceptional ambassador: Bono, the frontman of U2.
Bono from U2 also becomes an ambassador for responsible finance
Sustainable investments are gaining ground, racking up ever larger figures, and winning an exceptional ambassador: Bono, the frontman of U2.
Swiss bank UBS, Reuters reports, has raised 325 million dollars for one of its funds. The news would not in itself be particularly remarkable, were it not for two details. The first: it is a private equity fund specialising in impact investing. The second is that, among its distinguished "founding fathers", there is also a celebrity already known for his commitment to philanthropy: the frontman of U2, Bono.
Billions of dollars for the environment and sustainable development
With its total of 2 billion dollars, the Rise Fund is a drop in the ocean compared to the Swiss banking giant's investments, which are collectively worth more than a thousand times as much. But it is an encouraging sign, because it reflects the ever stronger and more widespread attention being paid to a different kind of finance. A finance that pursues profit, because that is in its nature, but at the same time seeks to achieve a positive, tangible and measurable impact on the planet and on people. This awareness is spreading to such a degree, particularly among millennials, that banks and financial companies are equipping themselves to offer their clients an ever wider range of products of this kind. And a few months ago the first impact fund also made its debut on the Italian Stock Exchange.
Investors back impact investing
This confidence in impact investing, which represents the most advanced frontier in the world of sustainable finance, appears to be well founded. At least, that is what emerges from the latest report by the Global Impact Investing Network, which surveyed 209 investors (banks, funds, insurance companies and so on) whose "impact" portfolios are worth, in total, 114 billion dollars. 98 per cent of respondents state that these investments have met or exceeded expectations in terms of social and environmental impact. 91 per cent say the same with regard to financial performance.
Bono, a history of activism
It comes as no surprise, then, that this sector has caught Bono's attention. The U2 frontman — whose band is these days completing the two Rome dates of their tour — has been known for his social commitment since the 1990s, when he became one of the faces of the campaign for the cancellation of third-world debt. Bono is among the founders of One, an international organisation that runs education and awareness campaigns on the issues of extreme poverty, hunger and Aids, particularly in Africa. One engages around eight million people worldwide.