{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/64dcccacf78da20011671a85/6a0ef43380978431da95b430?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"The \"Impact Pioneer\" - Sir Ronald Cohen","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/64dcccacf78da20011671a85/1779379983338-94f54c26-f308-43ed-a1b2-3fdf5d7283a2.jpeg?height=200","description":"<p>Welcome to the hotseat where Joe McCarthy sits with Sir Ronald Cohen, co-founder of Apax Partners, Chair of the Global Steering Group for Impact Investment, and author of <em>IMPACT</em>.</p><p><br></p><p>Sir Ronald is widely regarded as the father of both European venture capital and impact investing. He arrived in London as an 11-year-old refugee from Egypt speaking almost no English, made his way to Oxford and Harvard, and went on to build one of the defining venture and private equity firms of its generation before stepping away to devote himself to what he calls the impact revolution.</p><p><br></p><p>His argument is simple and radical: governments are stretched, inequality is widening, and relying on taxation and philanthropy alone has failed. The answer is to redirect the trillions already moving through capital markets by measuring impact the way we measure profit. In this conversation he explains why 2026 is a watershed year for that idea, and how AI is changing what is possible.</p><p><br></p><p>In this conversation, Sir Ronald and Joe discuss the following topics:</p><ul><li>Why optimising for impact is a route to superior returns, not a trade-off</li><li>The hidden risks of impact-blind investing: carbon taxes, consumer flight, and talent</li><li>Why carbon tax is the single lever that moves the dial on emissions</li><li>How impact-weighted accounting turns tons of carbon and water into monetary value</li><li>The 1929-to-GAAP parallel and why transparency built modern markets</li><li>What Harry Markowitz and the measurement of risk teach us about measuring impact</li><li>Whether public market sustainable investing has any real additionality</li><li>Measuring social impact: pay, representation, and the cost of unemployment to a community</li><li>Where AI meets impact, from education at scale to the first AI-derived drug</li><li>How families and family offices should build impact at the portfolio level</li><li>Governments shifting from funding inputs to paying for outcomes</li><li>His advice to a younger self: start young, think big, stick with it, and bring impact to it</li></ul><p><br></p><p>Follow us on:</p><p>YouTube: @HighNetPurpose</p><p>Instagram: @highnetpurpose</p><p>Twitter: @HighNetPurpose</p><p>LinkedIn: high-net-purpose</p><p><br></p><p>Connect with Sir Ronald Cohen:</p><p>LinkedIn: Sir Ronald Cohen</p><p>Website: sirronaldcohen.org</p><p><br></p><p>Books: IMPACT: Reshaping Capitalism to Drive Real Change (2nd expanded edition, 2025), The Second Bounce of the Ball, ON IMPACT</p><p><br></p><p>00:00 Introduction and Episode Overview</p><p> 02:33 Sir Ronald's Sense of Purpose</p><p> 05:18 Refugee Roots and Early Life</p><p> 06:44 Oxford Union and Learning to Speak Without Notes</p><p> 09:14 From McKinsey to Founding Apax Partners</p><p> 10:38 Building European Venture Capital from Scratch</p><p> 11:48 Deciding to Leave Apax at 60</p><p> 13:02 The Government Call That Started the Impact Mission</p><p> 15:36 The Social Impact Bond - From Idea to Peterborough</p><p> 17:57 Challenges and Surprises in the Impact Journey</p><p> 20:03 Why Impact Is Not a Trade-Off for Returns</p><p> 22:54 Carbon Tax as an Investor Risk</p><p> 24:52 Consumer Preferences - Cycle vs Long-Term Trend</p><p> 28:12 Impact Weighted Accounting - Origins and How It Works</p><p> 33:24 From ESG 1.0 to Rigorous Impact Measurement</p><p> 35:27 Additionality in Public Markets</p><p> 38:10 Leaders and Laggards - Sector-Level Impact Transparency</p><p> 41:36 How AI Is Unlocking Impact Data at Scale</p><p> 44:00 Monetising Social Impact - Diversity Deficits and Employment</p><p> 46:58 Impact Lenses Across the Whole Portfolio</p><p> 51:06 Advice for Families and Entrepreneurs Deploying Capital</p><p> 55:53 Where to Go for Reliable Impact Information</p><p> 58:23 Governments, Outcomes Funds and the Systemic Shift</p><p> 01:03:13 Advice to a Younger Self - and the Second Bounce of the Ball</p><p> 01:04:07 How Sir Ronald Stays Energised</p><p> 01:05:29 Closing Reflections</p><p><br></p><p>This podcast is prepared by Islandbridge Capital Limited who are authorised and regulated by the Financial Conduct Authority.</p><p><br></p><p>All content on High Net Purpose is provided as general information only. It does not constitute any advice or recommendation or representations, and is not intended to influence listeners or users into making any specific investments or any other decisions.</p>","author_name":"Islandbridge"}