Investments directed towards the cultural and creative industries: Insights from a burgeoning field
The "Impact Investing in the Cultural and Creative Sectors: Insights from an emerging field" report, published by the Creative Industries Policy and Evidence Centre (Creative PEC), sheds light on the role and potential of impact investing within the cultural and creative industries.
This report explores how impact investing—a form of investment aimed at generating social and environmental impact alongside financial returns—is beginning to be applied in cultural and creative sectors, which are emerging as important fields for sustainable development and social inclusion.
The report, produced as a collaboration between Fran Sanderson, Seva Phillips, Arts & Culture Finance by Nesta, and David Maggs, identifies a growing movement of investing for impact in the cultural and creative sectors globally.
Key themes addressed in the report include:
- The challenges and opportunities for financing cultural and creative enterprises through impact investing.
- Case studies from emerging economies or specific countries, such as Sierra Leone’s creative economy diagnostic supported by the World Bank.
- Recommendations for policymakers, investors, and creative entrepreneurs to leverage impact investing for growth and inclusion in cultural sectors.
- The importance of improving access to finance, infrastructure, and capacity building in creative industries.
One of the key recommendations of the report is the development of a global community of practice for impact investing in the cultural and creative sectors.
The launch events for the report will take place online on 28-29 November, covering all time zones. These events will feature discussions on the profound social impact and potential of the cultural and creative sectors, new investment models, and challenges around building new investment models.
Hasan Bakhshi, Director of Creative PEC, states that the report explores the current state of and potential for impact investing in the creative and cultural sectors. The report is essential reading for cultural and creative sector practitioners and entrepreneurs, public and private funders and investors, and policymakers. The team behind the report encourages the cultural and creative sectors to move towards the center stage within impact investing.
For full details and to access the recordings of these launch events, visit: https://figurative.org.uk/news/new-report-launched-impact-investing-in-the-cultural-and-creative-sectors/
The report comes at a time when the UK's departure from the EU has impacted the way British firms trade and work with European counterparts. In 2015, worldwide exports of creative goods exceeded 500 billion USD, with a 150% increase since 2000. The report underscores the importance of continued investment and support for the cultural and creative sectors in the UK and beyond.
- The Creative Industries Policy and Evidence Centre's (Creative PEC) report titled "Impact Investing in the Cultural and Creative Sectors" highlights the increasing application of impact investing within these sectors.
- The report, collaboratively produced by Fran Sanderson, Seva Phillips, Arts & Culture Finance by Nesta, and David Maggs, examines the challenges and opportunities in financing cultural and creative enterprises through impact investing.
- Key findings in the report include case studies from various countries, recommendations for policymakers, investors, and creative entrepreneurs to leverage impact investing, and the importance of improving access to finance, infrastructure, and capacity building in creative industries.
- One of the report's key recommendations is the development of a global community of practice for impact investing in the cultural and creative sectors.
- Launch events for the report will take place online on 28-29 November, discussing the social impact, new investment models, and challenges in building new investment models in these sectors.
- Hasan Bakhshi, Director of Creative PEC, emphasizes the report's exploration of the current state and potential of impact investing in the creative and cultural sectors, making it essential reading for various stakeholders, including cultural and creative sector practitioners, entrepreneurs, funders, investors, and policymakers.
- As the UK transitions out of the EU, the report underscores the need for continued investment and support for the cultural and creative sectors, given their significant global economic impact, with exports exceeding 500 billion USD in 2015 and a 150% increase since 2000.
