On June 16 we hosted our first community gathering “PFI at Villa Poranek” during which more than 70 philanthropists, investors, foundations and civil society experts gathered in five parallel Salons to discuss some of the most pressing issues for Central Europe’s democracy.
The Salon conducted under the title: Impact Investing: Fire and water – can we combine investing with a positive impact on society and the environment? was introduced by Joanna Namysł and moderated by Przemysław Pohrybieniuk. The discussion revolved around defining wise investing and its relationship with philanthropy, as well as its purpose and expected return on investment. The participants acknowledged that the group of individuals who want to have a real social impact through investing is not big enough to tackle every global problem, but that companies and HNWIs often face too little pressure to contribute to global social development and may engage in greenwashing.
The whole summary of the discussion is presented below.
One of the key issues that should be addressed at a meeting of individuals involved in business, investing, philanthropy, and social change is impact investing. People who seek to contribute to the development of society and citizenship understand the importance of allocating funds to achieve change.
The Salon on wise investing and philanthropy brought together business practitioners, individuals from a variety of NGOs, and participants from Poland and abroad. The discussion revolved around defining wise investing and its relationship with philanthropy, as well as its purpose and expected return on investment.
Most participants agreed that impact investing offers double returns: a classic financial “return on investment” as well as social / environmental change that the said investment causes. Defining the sectors and areas that require engagement in was deemed crucial. However, opinions on the significance of financial returns varied. While some stressed the importance of monetary gains, others emphasised the moral and motivational aspects of investments and the sense of contributing to a greater cause.
Personal stories played a significant role in the panel, as participants shared their experiences relating to projects that they had been involved in or financially supported. It was acknowledged that the group of individuals who want to have a real social impact through investing is not big enough to tackle every global problem. Companies and wealthy individuals often face too little pressure to contribute to global social development and may engage in greenwashing.
Another topic discussed was how to wisely invest existing funds within a company. Participants highlighted the importance of investing in organisations, enterprises and initiatives with a measurable social impact. Education was also emphasised, not just as support for less developed countries, but particularly in specialised fields. Investing in exceptional individuals and promoting investment education to raise awareness of the importance of fund allocation were seen as essential.
The discussion touched on the challenge of balancing financial returns with the environmental and social impact of investments. Companies and individuals tend to prioritise financial gains, and insufficient media coverage can lead to “whitewashing”. Changing consumer behaviour requires impulses generated by opinion leaders and agents of change.
However, there was optimism about the growing popularity and mainstream acceptance of impact investing, particularly driven by younger generations. Society’s awareness of social and environmental issues is growing.
The Salon concluded with thoughts about future generations and the evolving nature of wise investing. Amid growing awareness and respect in society for women’s rights, LGBTQ+ rights, and workers’ rights, the hope is that impact investing will become widespread and continue to lead to positive change.
“I would say that impact investing is one of the ways, one of the many ways to bring about positive change.”
