TMX Group Inc. Thursday announced its commitment to contribute to the development of the impact investing field in Canada as a founding supporter of the Toronto-based MaRS Centre for Impact Investing (the Centre).
TMX Group (TSX:X) will contribute funding, resources and leading capital markets expertise to the Centre, and will work to strengthen programs initiated by it to mobilize private capital to tackle social and environmental problems.
The two groups will collaborate to identify new ways to connect capital with ideas that are intended to produce a positive social or environmental impact and have the potential for financial return. The impact investing market in Canada is currently estimated at approximately $2 billion and is projected to grow to approximately $30 billion in the next decade, according to the 2010 report of the Canadian Task Force on Social Finance.
Among other key initiatives, TMX will contribute to the development of an online investing platform to connect impact ventures, funds, investors and service providers. The platform is currently under development by the Centre and is set to officially launch later this year, pending approval from the Ontario Securities Commission.