Developing a just, sustainable and profitable global creative economy through impact investment
The definition of creative economy is typically tied to efforts to measure economic activity in a specific geography. A relevant set of art, culture, design and innovation industries are determined, and the economic contribution of those industries is assessed within a region. A unique set of industries defines each local creative economy, reflecting the culture, traditions and heritage of that place.
For the purposes of this collaborative project we have defined the creative economy by identifying a set of 145 industries engaged in the inputs, production and distribution of creative products and grouped these industries into five pillars of the creative economy: Ethical fashion, Sustainable food, Social impact media, Other creative industries and Creative places. Read more about these definitions and the creative economy.
Impact investing is investing with the intention to generate positive, measurable social and environmental impact alongside a financial return. It is an investment approach, applicable to all asset classes, that counters the traditional separation of environmental, social and governance risk factors from investment decisions that are focused on financial returns alone. Impact investors consider how their investments align with their social and/or environmental goals and values, as well as their financial return objectives.
For the purposes of this collaborative project, impact investing is the umbrella term that includes concepts such as sustainable investing, ESG (investing in companies operating with best environmental, social and governance practices) and SRI (socially responsible investing, or sustainable, responsible and impact investing). Read more about these definitions and the creative economy.