Triple I for Global HealthOperational Guidelines

Sep. 2023

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Table of Contents
I. Introduction ............................................................................................................... 3
II. Objectives .................................................................................................................. 4
III. Framework ............................................................................................................. 5
1. Principle ................................................................................................................. 5
2. Reporting, Review and Verification ....................................................................... 5
3. Target Areas ........................................................................................................... 6
IV. Partnership ............................................................................................................. 82

I. Introduction
At the G7 Hiroshima Summit, the leaders endorsed the “Impact Investment Initiative(Triple I) for Global Health” and emphasized the important role the private sector canplay through impact investing, which aims to generate positive and measurable social
impacts alongside financial returns. The initiative intends to further harness private
capital at scale and contribute to global health, including the achievement of universal
health coverage (UHC).
Prior to that, at the G7 Health Minister’s Meeting in Nagasaki, the Health Ministers
issued the Health Minister’s Communiqué and G7 Global Plan for UHC Action
Agenda. Both documents stressed the necessity of sustainable financing in global
health, as well as the necessity of mobilization of additional financial resources.
The Triple I for Global Health was launched on the margins of the United Nations
General Assembly High Level Meetings (UNGA HLM) on pandemic prevention,preparedness, and response (PPR), UHC and tuberculosis (TB) in Sep. 2023.
The initiative is open to a wide range of stakeholders including development financial
institutions (DFIs), public development banks (PDBs), multilateral developmentbanks (MDBs), private investors, private businesses, philanthropies, and otherrelevant organizations to join, support and develop a framework to mobilize private
sector investments. The partner organizations of the initiative can show their strong
commitments to solve socio-economic issues by addressing the health-related needsof the Global South.
The initiative, with continued support of the G7, is expected to build a founding
coalition of stakeholders that agree to collaborate in fulfilling the objectives of theinitiative.
The initiative will seek to maximize collaboration with relevant existing frameworks
of international organizations to avoid duplication and fragmentation.
Investment targets of the initiative as a whole could be set as necessary to achieve
the objectives of this initiative.

3II. Objectives
The main objectives of the initiative are as follows:

To promote private capital mobilization through impact investments in global
health as an innovative approach to further advance environmental, social, andgovernance (ESG) investment, and fill the financial gap toward achieving
relevant Sustainable Development Goals (SDGs) such as SDGs 3, 5, 6, 9, 10, 13,
and 17.

To ensure better access to the full range of quality health services without
financial hardship, reduce health inequality, and address global health issues,
such as advancing UHC and strengthening pandemic prevention, preparedness
and response, especially in Low and Middle Income Countries (LMICs).

To fulfill the above objectives, the initiative will work:To raise awareness of impact investments in global health with a view toincreasing the size and diversity of partners and investments.

To share best practices to further encourage impact investing/impact
transparency (measurement, verification, and disclosure) in global health.

To gather and share knowledge in impact investments in global health, with aview to achieving “impact economy”, through which investors and businesses
use “impact” as a common objective to create new businesses to address global
health challenges.

To promote discussions and information exchanges among relevant stakeholders,including DFIs, PDBs, MDBs, private investors, private businesses, and healthcommunities; facilitate networking; and enhance collaboration among them.

4III. Framework1.

Principle

To promote projects/financial transactions which intend to address global
health issues especially in LMICs such as achieving UHC and/or strengthening
PPR for future pandemics, or create positive impacts in global health,especially in the target areas outlined below.

To promote projects/financial transactions focused on products/services whichmainly target increasing access to and affordability of health services andproducts in LMICs, and are better suited to reduce inequalities globally.



To promote projects/financial transactions with measurable social
impacts/outcomes that could be reported, reviewed, and verified with soundevidence.

To promote other efforts such as capacity building related to the mobilization offinance whose outcomes/impacts could be reported, reviewed with soundevidence.

To conduct research, exchange views on, and share good practices or challenges
in impact investments in global health among partners for further developmentof impact investing/impact transparency.

To promote impact investments and impact transparency in global health.

2.

Reporting, Review and Verification

Partners are requested to report relevant projects/financial transactions to theSecretariat once a year, based on the format in Annex 1. Such projects/financialtransactions include efforts by DFIs (i.e. blended finance, outcome fund, social
bonds, lending, equity investment and technical assistance).

The accumulated amount of investments will be published.

Partners will include expected outcomes/impacts and ways to measure them.

The Partners will review and verify outcomes/impacts with sound evidence.
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Individual efforts and good practices will be published on the Initiative website
or within its information materials subject to agreement on disclosure policy.

References for reporting: References for defining outcomes/impacts and their measurement: Global
Reporting Initiative (GRI), Sustainability Accounting Standards Board(SASB), United Nations Sustainable Development Goals (SDGs),
Corporate Social Responsibility frameworks, IRIS+, Harmonized
Framework for Impact Reporting for Social Bonds 1 and WHO healthindicators.
 References for impact investment: Core Characteristics of Impact Investing(GIIN), Operating Principles for Impact Management (IFC), Definition ofImpact Finance (Institut de la Finance Durable), Final report of the Study
Group on Impact Investment for Global Health (Cabinet Secretariat ofJapan)2 and Draft Basic Guideline on Impact Investment (JFSA)3.

3.

Target Areasa) Health areas include, but are not limited to: communicable diseases includingHIV/AIDS, tuberculosis, malaria, polio, measles, cholera, neglected tropical diseases(NTDs), antimicrobial resistance (AMR), non-communicable diseases (NCDs)
including mental health conditions, sexual and reproductive health and rights(SRHR), maternal, newborn, child and adolescent health, healthy ageing, nutrition,water, sanitation and hygiene (WASH), gender lens investment in healthb) Products and technologies include, but are not limited to: drugs, diagnostics,
vaccines, devices, personal protective equipment, software/AI (digital healthsolutions),c) Services and access include, but are not limited to: pandemic preparedness,delivery chains/logistics, local manufacturing, financial protection incl. healthinsurances and mitigation of catastrophic medical expenses, end-user service

https://www.icmagroup.org/assets/documents/Sustainable-finance/2022-updates/HarmonisedFramework-for-Impact-Reporting-Social-Bonds_June-2022-280622.pdf
2 https://www.kantei.go.jp/jp/singi/kenkouiryou/en/pdf/health_final_report.pdf
3 https://www.fsa.go.jp/news/r4/singi/20230630_3.html (English version will come soon)
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provider ecosystem (this includes areas such as primary health care, health systemstrengthening), essential public health functions including disease surveillance andresponse7IV. Partnership
Institutions that support and commit to the principles outlined in sec. III may
become partners by signing the format in Annex 2.



No Partner contribution fees upon launch. Consideration may be given tointroducing partner contribution fees in the future.

Number and names of partners will be disclosed.

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