Social Stock Exchange Launches in London
Halosource among 11 founding members
UK Prime Minister David Cameron announced the launch of the Social Stock Exchange (SSE) at an event that was part of the G8 Summit that took place in June 2013. Halosource, parent company of the HaloKlear and HaloPure brands of bio-polymer water treatment products, is one of the 11 founding members.
On June 6, 2013, Cameron announced in London the launch of the SSE as a new initiative designed to connect the public financial markets with social impact investment. It 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 is 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, clean technology, 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.
The SSE is supported by a number of high-profile organizations, including London Stock Exchange Group, City of London Corp., Big Society Capital and the Rockefeller Foundation.
“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," said Pradeep Jethi, co-founder and CEO of the SSE. "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,” said Martin Coles, CEO of Halosource.