UK Prime Minister David Cameron announced the launch of the Social Stock Exchange at an event that was part of the G8 Summit that has been taking place this June 2013. Bothell, WA-based Halosource (parent company of well-known HaloKlear and HaloPure brands of bio-polymer water treatment products) is one of the 11 founding members. Because of the Halosource commitment to clean water and its innovation and excellence for developing environmentally friendly products, Halosource was welcomed into this special group.
On June 6, 2013, Prime Minister David Cameron announced in London, the launch of the Social Stock Exchange (SSE) as a new initiative designed to connect the public financial markets with social impact investment. The SSE gives investors access to information on publicly listed businesses with strong social and environmental purpose, and guarantees full and transparent disclosure on the impact of those businesses. The Prime Minister highlighted in a speech ahead of the G8 summit that the SSE demonstrates that the UK is at the heart of financial innovation and social investment. The global market for social impact investment is estimated to be worth $9 billion and expected to grow to between $200 and $650 billion in the next decade. The first member companies to be admitted to the SSE are high growth businesses in markets such as social and affordable housing, cleantech, waste, water, recycling, renewable energy, sustainable transport, health, education and culture. They include Ashley House plc, V22 plc, Straight plc, Scope, Places for People, ITM Power plc, ValiRx plc, Good Energy Group plc, Primary Health Properties plc, Halosource plc, and Accsys Technologies plc. More information can be found here.
The SSE is supported by a number of high profile organizations including London Stock Exchange Group, City of London Corporation, Big Society Capital and the Rockefeller Foundation.
Pradeep Jethi, Co-founder & CEO, said “We believe that organizations that place social and environmental aims at the core of their activities, whilst operating on robust revenue and growth models, are the ones best equipped to generate the kind of positive impact that creates real change. Nobody can guarantee a return on capital – but the SSE can guarantee the social benefit and standards of each and every company they admit.”
“This is very exciting for us as the Social Stock Exchange is another forum for sharing what we do with investors looking for social investment,” says Martin Coles, CEO of Halosource.
Source: Halosource Press Release, June 26, 2013.