Today Toniic joined with several other prominent impact investing networks and leading foundations in the R3 Coalition, an industry initiative accelerating impact investments to respond, recover, and build resilience in the face of COVID-19. The R3 Coalition aims to mobilize and coordinate actions among impact investors to quickly fill financing gaps in efforts to address the devastating COVID-19 crisis. The Global Impact Investing Network is staffing the secretariat for the initiative.
The objectives of the coalition are, sequentially:
Response: Accelerate the immediate response to the current crisis
Recovery: Strengthen recovery as the pandemic subsides
Resilience: Build resilience against future crises
To achieve these objectives, the R3 Coalition will:
▪ Coordinate actions among impact investors to accelerate investments toward priority financing areas;
▪ Generate market intelligence on financing needs to address the negative effects of COVID-19; and
▪ Disseminate learnings to a wider audience to further amplify action.
During the next six months, the R3 Coalition will focus on investments targeting health interventions and selecting access to capital gaps to address. Regarding health interventions, quick and coordinated action by impact investors can mitigate the potential surge (or resurgence) of COVID-19 as the virus affects different regions around the world. Investments in health interventions could provide access to critical medical equipment to protect essential workers and care for COVID-19 patients, diagnostics to test for infections, and therapeutics to treat those infected with COVID-19.
While the needs for impact investment are far broader in this crisis than the direct response R3 envisions, Toniic is eager to support this effort. We hope that using capital to solve the direct problems of the pandemic alerts a wide audience to the role that capital can play in solving many of the world’s most pressing problems.