The FCA’s letter in response to the report included the following comments:

• Terminology: FCA has previously defined the term “social investing” and supports the work of the advisory group in seeking to set out and maintain a terminology with regard to social impact.
• Investment trusts: The emergence of investment trusts with an impact investing mandate demonstrates that there is space for investment products with a social angle.
• Innovate: The advisory group is welcome to promote the FCA’s Project Innovate to firms as they seek to develop better reporting of non-financial outcomes and consider the types of financial instruments to make available to investors.


Read Financial Conduct Authority Response to the ‘Growing a Culture of Social Impact Investing in the UK