On December 3, 2017, the "Global Social Finance Forum & 2017 Social Impact Investing Summit" was held beside Xiangmi Lake in Futian District, Shenzhen, and theConsensus on Global Social Impact Investment(also known as theXiangmi Lake Consensus) was jointly launched by a group of 77 financial, public welfare, industry, media, and other institutions, with China Global Philanthropy Institute as the initiator.
Focusing on man's yearning for a better life and the goal of global sustainable development, the "Xiangmi Lake Consensus" represents the consensus reached on the three aspects of social impact investment, namely ideas, goals, and principles, and puts forward strategies for taking action in 4 respects.
The institutions which started theXiangmi Lake Consensushope that various national governments and regions will start cooperation and dialogs soon, so that an online platform for investment and cooperation in global social impact investment may be built, that efforts may be made to give more social value to wealth, that the wake-up and return of capital can be witnessed, and that a concerted effort can be made to create a mankind fate consortium.
TheXiangmi Lake Consensusis open and serves to direct action; the initiators welcome more and more like-minded individuals, businesses, and organizations to join in making capital bring about a better life and investment become a philanthropic force.
People from the initiators of the Xiangmi Lake Consensus pose for a group photo
The following is the full text of theXiangmi Lake Consensus.
Mankind has ushered in an exciting era, in which technological advances emerge rapidly with each passing day and social changes take place similarly.
Some people are lagging behind others, while the sky looks gloomy to some and some more feel disillusioned.
As change has become the norm, how shall we find our way forward? Shall we go all out to seek a new path or stick to our original path? Shall we learn to survive as we run?
We long for a new kind of business civilization, as well as an ability to use the social responsibility of a business to direct its capital so as to build a win-win bridge between the return on investment and social value and make sure that our dream may come true.
We have found what we have been looking for. That is social impact investment! In addition to getting financial return, social impact investment attaches importance to humane care and sustainable development and to investment's positive impact on society. In fact, it will win a wider space for development than you can imagine.
The best way of doing business is to focus on whatever may bring profit while always sticking to the accepted code of ethics.
It has come to our attention that social impact investment has become quite popular around the world. Innovation, coordination, staying green and open, and sharing with each other are ideas increasingly shared by everyone; global covenant and the Equator Principles are spirits respected by all those who pay attention to responsible investment. In making life better and achieving sustainable development around the world, we shall make our voices heard, our solutions known, and our wisdom part of the global wisdom.
Nowadays, as advocates on the frontier of global social impact investment and practitioners and researchers of the ideas, we have come to the lakeside of Xiangmi Lake in Shenzhen, a city of reform and innovation, to look towards the future and plan for the future.
We have reached a consensus in three respects:
--Our philosophy. Use business wisdom to solve social problems, enhancing social well-being while seeking excellent financial returns. Treat creating wealth as the means and improving people's livelihood as the end, with the aim of allocating limited resources to where they may be needed most.
--Our goal. Always stick to the accepted code of ethics in doing business; always do the right thing in every situation. Engage in innovation without forgetting to serve the general public, trying to enhance and modernize the ability to bring order and harmony to society.
--Our principle. Value man's value, abstain from discrimination and prejudice, assume all necessary social responsibilities, take social, environmental and corporate issues into account in making investment decisions. We call on all businesses making investments to stick to and give full support to these principles.
Actions speak louder than words. We will explore our action strategy in the following four respects.
--Explore a set of standards. Establish a system of significant social influence that can be used to assess investment indexes, so that a benign cycle can be formed in which the business can respond as needed, society may act, government can give encouragement, thereby causing the social influence to develop, the encouragement to increase, and the society influence and businesses to grow.
--A batch of businesses emerges. We need a batch of socialized entrepreneurs with sentiments and a strong sense of purpose, who, driven by their ideals, will exert their great influence and encourage innovation and lead capital to go into areas that will affect the development of mankind, thereby helping the economy achieve rapid sustainable growth.
--An ecosystem is jointly created by many. Business shall grow in right directions and encourage good conduct all over the world. We shall encourage various social elements to build a general service platform; build professional think tanks by using such means as investment, operations, and assessments; achieve information sharing among resources, projects, and results; and develop a complete social impact investment ecosystem.
--A wide field is opened. From poverty alleviation, to health services, to providing for the aged, to safety education, to the environment and energy, all sorts of social problems present us a wide field of business development, which makes it necessary for us to develop new market space through value-driven innovation.
We hope that various national governments and regions will start cooperation and dialogs soon, so that an online platform for investment and cooperation in global social impact investment may be built, that efforts may be made to give more social value to wealth, that the wake-up and return of capital can be witnessed, and that a concerted effort can be made to create a mankind fate consortium. It is our hope that more and more like-minded individuals, businesses, and organizations will join our consensus and join us entering the philanthropic economy era in making capital bring about a better life and investment become a philanthropic force.