Agenda item

Report of the Chief Grants Officer.

The Chief Grants Officer introduced a progress report on social investment activity within the Corporation. Members noted that a long list of social investment advisors had been drawn up, which would be whittled down to a short list for the Chairman and Deputy Chairman to interview before being put to the Board for approval. With regard to Stepping Stones, Members noted that a more detailed report would be received once more grantees had completed the process and more information was available.

Members discussed the outcomes and actions from the Away Day. With regard to priority areas for London, although some programme themes could be discounted owing the lack of social investment opportunity, more information was needed before the Board could make material tangible progress. Members agreed that this would benefit from the wider work being carried out in relation to City Bridge Trust’s Quinquennial Review, and agreed that officers should focus on the question of risk appetite in time for the next meeting. Members also discussed the diagram below (based on EVPA’s work) illustrating the spectrum of opportunities and where the Corporation was involved. They requested an amendment to the diagram to clarify that SIB investments prioritised financial return and capital preservation over   “impact”:

RESOLVED – That the report be noted, and a follow-up report regarding risk appetite be presented at the Board’s next meeting.