The Responsible Investment Association Australasia has launched a new forum to facilitate discussion about impact investing.
The Impact Investment Forum has been established in response to growing interest in impact investing among government, philanthropists and superannuation funds, according to the Responsible Investment Association Australasia (RIAA).
Impact investing, which seeks to achieve "measurable social or environmental impact alongside financial returns", has to date been promoted in Australia by the Australian Advisory Board on Impact Investing and Impact Investing Australia.
RIAA chief executive Simon O'Connor said the Impact Investment Forum would complement the ongoing work of the existing bodies.
"Through the Impact Investment Forum, we want to develop and amplify the significant work done by Impact Investing Australia, and help take impact investing to scale," Mr O'Connor said.
The Impact Investment Forum will be chaired by former Christian Super chief executive Peter Murphy, along with co-deputy chairs Kylie Charlton (Australian Impact Investments and Unitus Capital) and Amanda Goodman (Impact Investment Group).
The RIAA's Impact Investment Forum will take over Impact Investing Australia's Impact Investor Survey and Benchmarking Report.
Impact investing is estimated to reach between US$600 billion and US$1 trillion within a decade, according to the RIAA.
The "still nascent" Australian impact investing market is expected to reach $32 billion by 2022.
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