Impact Investment Initiative for Global Health(Triple I for GH)
1Context

In recent years, financial burden has been increasing in global health, especially on low-and middle–
income countries (LMICs). Against this background mobilization of private funds in addition to
public funds, including through sustainable financing, has become an urgent issue.
Impact investing refers to investments that intend to generate a measurable socially and/orenvironmentally beneficial impact alongside a financial return. In 2013, the United Kingdom
announced the establishment of the Social Impact Investment Taskforce under its G8 Presidency. The
UK initiative contributed to promote impact investments to tackle the most difficult socialdevelopment problems. Since then, the global impact investing market size is expanding rapidly andis estimated to be US$ 1.164 trillion 1 in 2021, of which about 7% is invested in healthcare and 6%in WASH.
At the G7 Hiroshima Summit, the leaders endorsed an initiative to raise awareness and share bestpractices on impact investment in global health, with a view to contributing to global health including
achievement of universal health coverage. The G7 intends to launch this initiative (Triple I for GlobalHealth) at the margin of the United Nations General Assembly High Level Meetings (UNGA HLMs)
as a next step and would like to invite the development financial institutions (DFIs), publicdevelopment banks (PDBs), multilateral development banks (MDBs), private companies, and otherrelevant organizations to consider joining the co-creation of this initiative to support and develop aframework to mobilize private sector investments. The partner organizations of the initiative can show
their strong commitments to solve socio-economic issues by addressing the needs of global south.
It is envisaged that the partner organizations of the initiative will, where appropriate in accordancewith their mandates, invest in, fund, give technical cooperation to or take part in projects, as well as
conduct financial transactions and other efforts that meet the following criteria. A Secretariat will beestablished ahead of the launch of the initiative.
2Criteria for the eligible investment

The criteria for the eligible investments will be elaborated by the launch of the initiative. They areplanned to be as short and succinct as possible to encourage relevant organizations in the sec.4 to join,
and will be decided in conjunction with partner organisations.
The projects/financial transactions in global health, which meet the following (provisional) criteria(a) Projects/ financial transactions which intend to solve issues/ create positive impacts in global
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health, especially in the target areas in sec. 3 below.
(b) Projects/financial transactions targeted to products/services which mainly target/benefit
LMICs, and reach the poorest and most vulnerable, to address the issues in global south.
(c) Projects/financial transactions with measurable social impacts/outcomes that could bereported, reviewed and verified with sound evidence.
(d)Other efforts such as capacity building relating to mobilization of finance whose outcomes/impacts could be reported, reviewed and verified with sound evidence.
The Initiative will be complementary to existing work supported by the G7 including the International
Financial Reporting Standards Foundation’s International Sustainability Standards Board.
3Targeted areas

Global health challenges such as immunization, communicable diseases including HIV/AIDS,tuberculosis, malaria, polio, measles, cholera, neglected tropical diseases (NTDs), antimicrobialresistance (AMR), non-communicable diseases (NCDs) including mental health conditions, sexualand reproductive health and rights (SRHR), maternal, newborn, child and adolescent health, healthyageing, nutrition, water, sanitation and hygiene (WASH), financial protection and mitigation ofcatastrophic medical expenses, pandemic prevention, preparedness and response (PPR), digital healthand others are targeted areas of the initiative.
The initiative can help enhance primary health care (PHC), including maternal and child health care,equitable access to medical countermeasures (MCM) for needy and disadvantaged people, andcontribute to a restoration of essential health services to better than pre-pandemic levels, with the goalof achieving universal health coverage (UHC) as in SDG 3.8.
4Potential partners

The G7 would encourage multilateral development banks (MDBs), Development Finance Institutions(DFIs), public development banks (PDBs), fund managers, family offices, financial institutions andfoundations, pension funds, institutional investors, wealth management firms, donor organizations,companies or industry shaping organizations, philanthropic organizations and other relevantorganizations to consider joining the initiative as partners.
5Secretariat

A secretariat will conduct outreach activities, compile data, publicize good practices, convene
working groups, and hold forums. The secretariat will collaborate with implementation/knowledge
partners including the Global Steering Group for Impact Investment (GSG), the Impact Taskforce andBill & Melinda Gates Foundation.